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GreenEnco Ltd announced today another milestone towards the journey against Climate Emergency measures. GreenEnco has signed a Memorandum of Understanding (MoU) with The Telangana State Renewable Energy Development Corporation Ltd (TSREDCO).
GreenEnco has developed a systematic strategy to optimise operational solar photovoltaic (PV) plants by maximising energy generation. This process is called PV Asset Performance Management (APM). GreenEnco APM is a unique approach that combines in-house developed Artificial Intelligence (AI) and Machine Learning (ML) algorithms driven by human intelligence enriched with solar domain operational excellence. GreenEnco APM process has resulted in an average 8% generation gain of the assets in Europe and Asia.
Whereas, TSREDCO has been nominated by the Government of Telangana as the State Nodal Agency (SNA), for implementing all New and Renewable Energy Programmes; as the State Designated Agency (SDA) for implementing Energy Conservation activities and as the State Nodal & Implementation Agency(SIA), for setting up of EV charging infrastructure for Electric vehicles in the state of Telangana.
Under this framework arrangement with TSREDCO, GreenEnco to provide Asset Performance Management (APM), Technical Advisory (TA) to the projects developed/developing by developers, corporate enterprises, proprietors, asset owners and independent power producers of solar energy projects in the state of Telangana.
This MoU has been signed by Mr. N. Janaiah, Vice-chairman & Managing Director, TSREDCO and Dr. Jyotirmoy Roy, Founder and CEO of GreenEnco in presence of Mr. Andrew Fleming, the British Deputy High Commissioner in Hyderabad.
To support the UK net-zero commitments and to strengthen the UK-India collaboration in the low carbon technology sector, Mr. Srijith Manon, Department of International Trade (DIT) of Foreign Commonwealth Development of Office (FCDO) has invited GreenEnco to participate in the RenewX 2021 event. Following the successful event at the RenewX 2021, GreenEnco and TSREDCO have come together to establish this MoU to support further growth of solar energy in the state of Telangana.
This MoU has established a strong collaboration between India and the UK towards the goal of the net zero targets for both countries and gaining more investors’ confidence to attract foreign investment in the state of Telangana.
“TSREDCO being the State nodal agency responsible for promotion and implementation of Renewable energy projects, signs this MoU with GreenEnco to offer support in optimizing the present plant performances of the existing solar projects.
All the solar power developers presently operating in Telangana can get these services”, said Mr. Neelam Janaiah, Vice-chairman & Managing Director of TSREDCO.
“We are delighted to establish this engagement with TSREDCO to support the solar developers in the state of Telangana to unfold the true value of their solar assets and help increase the confidence of their investors for further green investment in their projects. GreenEnco APM has successfully helped developers and asset owners to increase the value of their assets in Europe and India”, said Dr Jyotirmoy Roy, Founder and CEO of GreenEnco.
“Delighted that the expertise of British company GreenEnco is, by today’s signing of an MoU with TSREDCO, going to enable private providers in the state scope to optimise the solar energy production”, said Mr. Andrew Fleming, the British Deputy High Commissioner in Hyderabad.
GreenEnco is a UK based renewable energy advisory firm that provides strategic and risk management consulting services across the complete solar PV project lifecycle, energy storage and Zero-Emission infrastructure projects. GreenEnco aims to offer a smart energy solution with its energy management and energy efficiency services. GreenEnco has performed over 4.5 GW of services in the last 4.5 years and these projects are located in over 12 countries on 4 continents.