NEW DELHI: Deeya Energy has said it aims to become a leading player in India’s USD 20 billion energy storage devices market with its technology that helps reduce dependence on diesel for meeting power needs.
Ravi Sharma, a global director at US-based Deeya Energy, said the “breakthrough (storage) technology” would help in replacing diesel gensets.
“India will be the launch pad for this technology. India is a key market for us. Besides the whole of South Asia, Middle East and Africa would also be big markets for this technology,” said Sharma, the former CEO of Adani Power.
He is now a director on Deeya Energy’s global board.
Sharma said the technology will help India “reduce its fuel subsidy bill and cut operational expenses for industry which uses expensive diesel as fuel”.
Talking to PTI here, he said Deeya Energy has already set up a manufacturing facility in Gurgaon and would soon start supplying the batteries to telecom and power entities.
Among others, the product has a long life, charging takes less time and is environment friendly, he added.
“We have done the testing with telecom and tower companies. We have also done it with power companies such as Power Grid and some other railway signaling schemes. After doing some fine tuning, we found that they have approved our batteries to be used,” Sharma noted.
Sounding bullish on the USD 20 billion Indian energy storage devices market, he said that he expects the company to become a leading player in the next three years not just in India but also other developing markets.
However, he did not share the company’s financial details. Deeya Energy would also be targeting Railways and other segments with its technology. –PTI
Thank You For Your Vote!
Sorry You have Already Voted!
