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PYSE Builds India’s First Fractionally-owned Solar Power Plant in Karnataka

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growatt01-08-2022

PYSE, an investment platform, has opened India’s first fractionally owned solar power plant in Karnataka.

pixon energy

This platform allows retail investors to invest in sustainable, socially and environmentally responsible projects starting at Rs 5,000

According to a statement from PYSE, India’s largest fractionally-owned solar power station in Karnataka has helped it strengthen its leadership position within the renewable energy sector.

According to the statement, the project is worth Rs 26 crore and has an average investor ticket of Rs 25,000.

Strategically, the project was divided into four tranches. The first three tranches are worth Rs 16 crore.

Tranche 1, 2, and 3 had been oversubscribed by 2.5x and the money was raised on an average of 3 days.

The project is backed by more than 600 retail investors and is equipped to supply solar power to marquee clients operating manufacturing plants.

PYSE will launch the fourth and final tranche with a minimum investment of Rs 5,00,000.

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The plant is set to be commissioned by the end of July and is designed to offset 65 lakh kgs of carbon footprint every year for the next twenty-five years.

Kaustubh Padakannaya (co-founder of PYSE) stated in the statement that “The response from investors to Tranche 1, 2 and 3 has solidified my faith in the fact, that investors recognize solar as an investment class that offers potential for steady returns while also contributing to the environment.” This project demonstrates our commitment to making green assets a profitable financial product for retail investors. It is also a step towards our sustainability goals with our partner companies.

PYSE, a Covid-born firm, currently manages 40+ cr AUM (asset under Management) with over 4,000+ investors. The company plans to invest 200 crore in green assets by March 2023.

To attract early investors, 65 percent of users are between 25 and 35 years old and live in major Indian cities. 35 percent are from tier 2 or tier 3. The company’s purpose is to encourage retail investors towards a more sustainable lifestyle and passive income.

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