Amplus Solar

Your Partner for a Greener World

Sales & Marketing
Industry:
Type:
HQ:
Size:
Founded:
Specialties:

Renewables & Environment

Privately Held
Building 2, 14th Floor Vatika Business Park, Sohna Road Gurgaon, Haryana
11-50 employees
2008
Solar, Rooftop Solar, Energy Advisory, Renewables, Solar RESCO, PPA Solar, BOOT
Solar, Energy

Sanjeev Aggarwal - Managing Director & CEO - Founder

Guru Inder Mohan Singh - Chief Operating Officer - Founder
Amplus Solar
One of Indias largest dedicated distributed solar power companies
Run by veterans of the power industry with significant experience of developing,
constructing and operating power plants.
Constructs and operates distributed rooftop solar projects for industrial and commercial
customers under long-term power purchase agreements
With the investment from I Squared Capital, Amplus seeks to expand its footprint and
become a leader in rooftop solar in India and Southeast Asia.
Setting up a state-of-the-art centralized monitoring facility in the outskirts of Delhi
Rapidly growing its marketing, project and field teams across India
Why Amplus
Strong Financials
Amplus investments are backed by I-Squared Capital, a US based Private Equity fund with $3
bn of assets under management. That means quick implementation without any third party
investors
Solar Expertise
Delivered more than 50 MW of Solar Projects. Experience of over 300 rooftop projects. We
follow global best practices across all areas process, products, technology, and EHS
standards.
Focus on Best Solution
With our end to end in-house capabilities including designing, procurement, engineering,
permitting, and project management and monitoring, we offer customized solar solutions
that best meet your needs.
Management
With over 150 years of collective experience in the best power companies across the world,
our people are committed to deliver only the best.

Why Solar
Go Green, Save Money!
Your Own Solar Plant with ZERO InvestmentHassle Free Maintenance; Real-time Analytics
Seamless Integration With Your Existing SystemGuaranteed savings every day
High Performance Solar TechnologyFocus on Reliability and Safety
Proprietary Design for Optimum GenerationGuaranteed Delivery Timelines

I Squared Capital Partners with Amplus to Create a Leader in Distributed Rooftop Solar Power in
India
August 24, 2015 04:30 AM Eastern Daylight Time
Meeting such a goal requires substantial investment from both the public and private sectors
SINGAPORE--(BUSINESS WIRE)--I Squared Capital, through its ISQ Global Infrastructure Fund, is pleased to
announce an investment in Amplus Energy Solutions Private Limited (Amplus), an owner and operator of
distributed rooftop solar power in India.
Amplus constructs and operates distributed rooftop solar projects for industrial and commercial customers
under long-term power purchase agreements. Rooftop solar power eliminates the need for costly and
inefficient transmission by generating and consuming electricity within the same area. According to the
Central Electricity Authority (CEA), power generation in India produced 0.82 metric tonnes of carbon dioxide
for every megawatt hour of net electricity generated in 2014. In contrast, Amplus generates power with zero
emissions, while at the same time enabling its customers to lower their long-term electricity costs. The current
Amplus portfolio contains projects for diverse customers, including leading multinational companies.
Amplus was founded in 2012 and is run by veterans of the power industry with extensive experience in global
companies like AES, NTPC, Mirant and SBI Capital Markets. With the investment from I Squared Capital, Amplus
seeks to expand its footprint and become a leader in rooftop solar in India and Southeast Asia. Amplus is
setting up a state-of-the-art centralized monitoring facility in the outskirts of Delhi and growing its project and
field teams across India.
Distributed or rooftop solar is a green technology that can provide significant economic and environmental
benefits. Under the Modi government, the Ministry of New and Renewable Energy has targeted the
development of 40 gigawatts of rooftop solar by 2020. Meeting such a goal requires substantial investment
from both the public and private sectors, said Gautam Bhandari, Partner at I Squared Capital. We are proud
to partner with Amplus to bring this efficient and sustainable technology to more customers in India and
beyond. Amplus is setting up an office in Singapore to pursue opportunities there as well as in other Southeast
Asian countries.
Rooftop solar installed by Amplus allows industrial and commercial customers to lower their electricity bills
with no upfront capital costs, said Sanjeev Aggarwal, CEO of Amplus. We provide construction capital,
guaranteed implementation timelines as well as ongoing operations and maintenance. Our power purchase
agreements offer customized tariff options lower than grid tariffsthe resulting savings can begin from day
one of installation. With sizeable backing from I Squared Capital, we now have the resources and capital to
build a leading distributed solar company in India and Southeast Asia.
About I Squared Capital: I Squared Capital is an independent global infrastructure investment manager
focusing on energy, utilities, and transport in North America, Europe, and select high growth economies. The
Firm has offices in New York, Houston, London, New Delhi, Hong Kong and Singapore.

About the company:

Organisation:
Amplus Solar is a leading distributed solar power
company with pan-India operations. It designs,
engineers, constructs, finances, owns and
operates rooftop solar energy systems.
It is one of the largest rooftop operations of Build
operate own transfer or B.O.O.T model in India.
About B.O.O.T or opex model
In this, Amplus will install the rooftop solar for
consumers and also owns the risks of planning,
constructing, operating and maintaining the
project for a specified time period

During this time, Amplus will charge the

consumer who use the infrastructure that's
been built to realize a profit

And, at the end of the specified period, the

ownership of the solar heater is transferred
back to the consumer either freely or for an
amount stipulated in the original contract
Contrary to this is the Capex model, in which the
installation is done at full price and the entire
solar panel is transferred to consumer soon
after
Other key people
Vikas Sareen, GM- Technical (Solar)
Has been with the company since 2013, prior to which
was with AGM and Azure Power. Is an alum of Jamia
Millia Islamia.
Abhishek Goyal, Financial Analyst
Joined Amplus in 2013, prior to which was associated
with AES, IL&FS Private Equity and Reliance
infrastructure Limited. Holds a bachelors degree from
PEC and has attended courses on Corporate
restructuring, Corporate Finance, Options, Futures,
derivatives from IIMC
Ritu Lal, Director - Business Development
Has been with the company since 2014, prior to which
she has been assosciated with DSM & Glaxo SmithKline.
Holds an MBA from FMS, Delhi
Guru Inder, Director
Joined Amplus in 2012, prior to which was in Azure
Power, AES and PFC. Is an alum of IMT

Key Personnel
Sanjeev Aggarwal, Promoter & MD
Sanjeev promoted the company in 2010, prior
to which he was the Energy and Business
Development Director of AES Chhattisgarh
since 2004.
Prior to that, Sanjeev has also had various stints
in working with the power and infrastructure
sector in CRISIL, Vedaris, Mirant Asia Pacific
and SBICaps
He is an alum of IIMA and Jamia Millia Islamia
Honors:
Is a member of Renewable Committee, FICCI
since May 2015
Has won the FICCI young leader award in 2013

Member, Infrastructure Committee of

AmCham India
Member, FICCI Power Committee

Advisory Council, National Power Training

Institute, Government of India

Recent News
Growth focus:
The company aims to be a pure play BOOT rooftop
operator in India over the short term. It plans to
add 30 - 40 sites over this period
Fresh funding:
I Squared capital to invest $150 million in Amplus
Questions
Focus your questions on the following depending
on the speaker:
Sustainability of the BOOT model

Acceptance by companies as well as retail

consumers to paying for Solar energy
Initiatives that government can further take to
improve renewable energy consumption in
India

KEY FEATURES:
1. Backed by I-Squared Capital having $3bn Asset under management. That means quick
implementation without any third party investors
2. Delivered more than 50 MW of Solar Projects. Experience of over 300 rooftop projects. We
follow global best practices across all areas process, products, technology, and EHS standards.
3. With our end to end in-house capabilities including designing, procurement, engineering,
permitting and project management and monitoring, we offer customized solar solutions that
best meet your needs.
4. With over 150 years of collective experience in the best power companies across the world, our
people are committed to deliver only the best.

Working Model:
The team at Amplus Solar brings its understanding of technology, regulatory framework and the
power market as a whole to its customers.
It understands the customers requirements and offers a customized solution, be it the sizing of
the plant or the mounting arrangement of solar modules.
Our depth of understanding of the power market helps us in forming a view on the long term
movement of the grid pricing, availability of grid power and the consequent running of diesel
generators; both of these help the customer appreciate the long term certainty on solar pricing
and savings.
Above all, the transparent approach and the in-depth knowledge help in convincing the client
that our association is going to be win-win solution
OPEX/BOOT MODEL:
Under this model, Amplus will invest and maintain the plant and the customer pays only for
energy.
Capex model is when the customer invests.
At Amplus Solar, we believe that the opex model is a sustainable growth model where customers
will find it a real source of value since it transfers the risk to the party that is best equipped to
manage it.
For example, if a hotel installs a rooftop solar system on the capex model, it assumes on itself,
various risks, including the technology selection, design, O&M and performance risks. For a hotel
or an educational institution or an industry, it would rather focus on its core business than allocate
resources to a solar project and that too for the long term.