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Renewable energy

Waaree Renewable Technologies Invests in Smart Joules for Climate Tech Ecosystem Expansion

Strategic Insights

— 1 min read

Waaree Renewable Technologies Limited (WRTL), a leading solar EPC and renewable energy solutions provider, has announced a strategic investment in Smart Joules Pvt. Ltd. (SJPL), India's largest and fastest-growing Cooling-as-a-Service (CaaS) and energy efficiency company. This investment marks a collaboration between WRTL and SJPL, underscoring WRTL's growing ambition as an active investor in the Energy Transition and Climate Tech ecosystem.

WRTL sees energy efficiency and Cooling-as-a-Service as pivotal to shaping a sustainable future, especially in markets like India, Southeast Asia, and MENA. The investment will enable SJPL to expand its Cooling-as-a-Service and AI-driven efficiency solutions to a wider customer base. WRTL's leadership in renewable energy and global network will significantly accelerate SJPL's growth journey, enabling the company to access sustainable cooling without upfront costs.

Key Takeaways:

  • The investment marks a collaboration between WRTL and SJPL, underscoring WRTL's growing ambition as an active investor in the Energy Transition and Climate Tech ecosystem.
  • WRTL sees energy efficiency and Cooling-as-a-Service as pivotal to shaping a sustainable future, especially in markets like India, Southeast Asia, and MENA.
  • The investment will enable SJPL to expand its Cooling-as-a-Service and AI-driven efficiency solutions to a wider customer base.
  • SJPL operates across three high-impact verticals: JoulePAYS, JouleCOOL, and DeJoule, which offer Cooling-as-a-service, Energy Savings, and AI-driven automation platforms for energy savings.
  • Smart Joules is scaling rapidly to capture emerging markets in India and beyond, with support from investors like ADB Ventures, Nadir Godrej, and Saket Burman.
  • WRTL delivers utility-scale and distributed solar solutions, providing high-performance, sustainable energy solutions to commercial and industrial clients.
  • SJPL's mission is to make sustainable cooling accessible to industries, hospitals, and businesses without upfront costs, aiming to capture a significant share of the global Cooling-as-a-Service market.

Statistics:

  • ~2.5 GW of projects executed and over 10,000 rooftop installations by WRTL
  • India, Southeast Asia, MENA, and parts of Africa & Latin America represent the largest future markets for Cooling-as-a-Service (CaaS)
  • US/EU markets represent niche but premium segments for CaaS

Sources:

  • Waaree Energies Ltd. (Original Press Release)
  • Smart Joules Pvt. Ltd. (Company Information)

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