Duron Energy plans expansion in India
Duron Energy Pvt Ltd, the Indian subsidiary of US-based Distributed World Power, a maker of affordable off-grid solar energy solutions, is looking to raise up to $10 million (about Rs 50 crore) venture capital to fund its expansion in India.
The company, started in 2008, has recently completed the pilot marketing of its plug-n-play solar lighting solutions in two states of Karnataka and Uttar Pradesh and is now looking at an aggressive expansion across the country.
“We have done pilot projects for our off-grid solar lighting products mainly in the rural and semi-urban areas in these two states and are looking to roll out in five other states this year. We are in talks with a few private equity and venture capital firms for raising around $8-10 million,” Ajay Awasthi, President & CEO, Duron Energy Pvt Ltd said. read more →
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