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Siddharth Malik’s success story in solar power for India

How seven young entrepreneurs defied hurdles to develop clean renewable energy  http://economictimes.indiatimes.com/news/emerging-businesses/entrepreneurs/how-seven-young-entrepreneurs-defied-hurdles-to-develop-clean-renewable-energy/ 4 AUG, 2012,   SHREYA JAI,ET BUREAU articleshow/15347643.cms   Renewable energy in India has always been a risky business, be it due to high input cost, unsteady market or lack of government support. But these seven young entrepreneurs defied all this and much more. 

At a time when even big companies are reluctant to enter the renewable energy market due to the huge costs involved, they have come up with innovative solutions to develop clean energy, which brings down the costs and is accessible by the commons, even village folks, reports ET. 

‘SWADES’ STORY IN REAL  Siddharth Malik, 30 Megawatt Solutions, Delhi 
AN engineering and management degree fromUniversity of Pennsylvania, a flourishing career with energy-focused companies in the US where the base package is a sinful $1,00,0000 per annum. What more can you ask for?

Well, Siddharth Malik had ideas. This passionate 30-year old left all this to come back to India and start his own renewable energy venture amalgamating high-performing solar-thermal systems with fossil fuels.

He started Megawatts Solutions in 2010, which provides concentrated solar-thermal solutions. “At least when sun is shining, fossils need not be fired,” says Malik, adding, “this simple idea creates long-term economic value for industry owners.” Its 0.5-mw pilot project in Guragon provides a hybrid solution by integrating solarthermal with fossil fuel that offers considerably higher value than stand-alone solar thermal plants.”  It has resulted in up to 25% more efficient performance than competing technologies , which makes a drastic improvement in economics of solar,” adds Malik.

MS’ solutions are based on home-grown concentrated solar thermal technology and its role ranges from designing to manufacturing, installing and commissioning industrial-scale solar thermal projects. It has four projects in the pipeline including a 3 mw solar thermal heating project in Gujarat – the largest ever in India.

August 4, 2012 - Posted by Christina Macpherson | decentralised, India