Construction Industry News
Pyse, an investment platform that helps retail investors invest in sustainable projects that create social and environmental impacts from a ticket size of just Rs 5,000, has further strengthened its leadership position in renewable energy by launching India's first and largest fractional solar power plant in Karnataka. The solar power plant is an investment of Rs 26 crore with an average ticket size of Rs 25,000.
The project is strategically divided into four tranches with the first three tranches worth Rs 16 crore. Tranche 1, 2 and 3 were 2.5x oversubscribed and the money was collected in an average of 3 days. Backed by more than 600 private investors, the project is equipped to provide solar energy to major customers that operate factories.
PYSE will launch the fourth and final tranche with a minimum investment of Rs 5,000,000. The plant is expected to be commissioned by the end of July and is designed to offset 65 lakh kg of carbon footprint every year for the next twenty-five years.
Kaustubh Padakannaya, co-founder of PYSE, said: “Investor response to the launch of Tranche 1, 2 and 3 has reinforced our confidence that investors are recognizing solar energy as an asset class that has the potential to create a stable achieving returns while contributing to the environment. This project demonstrates our commitment to making green assets a lucrative financial product for retail investors and is a step towards the sustainability goals of our partner companies.”
As a Covid-born company, PYSE currently manages 40+ crore AUM with more than 4000+ investors and the company aims to build 200 crore of green assets by March 2023. Targeting its early investors, 65% of users are between the ages of 25 and 35 and are located in key Indian cities. While 35% come from tier 2 and tier 3 cities. The company's goal is to encourage retail investors to adopt a sustainable lifestyle while earning passive income.
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