GreenTech Secures Rs 30 Crore for Wind Turbine Asset Management

GreenTech, a company focusing on technology-driven operations and maintenance, has successfully raised Rs 30 crore, composed of both equity and debt, in its initial funding round led by Transition VC. The funds will be allocated to the enhancement of global infrastructure, the advancement of AI and ML predictive maintenance systems, SCADA analytics, and to propel business development across India and critical international wind markets, according to a recent press release.

Company Overview

Founded in 2018 by Daniel Raj, GreenTech serves as a technology-oriented independent service provider that offers extensive operations and maintenance (O&M) and asset management solutions for wind turbine fleets. Their services include predictive and preventive maintenance, corrective repairs, full-scope O&M, SCADA upgrades, blade inspections, crane-less major component replacements, and internal repair capabilities across mechanical, electrical, and electronic systems.

Operational Reach

With operations spanning all major wind states in India and an expanding international footprint in Southeast Asia, GreenTech enables asset owners to enhance energy generation, boost reliability, and prolong the lifespan of turbines. The company aims to strengthen its analytics platforms, broaden its repair and refurbishment facilities into a multi-disciplinary hub, which will encompass mechanical, electrical, generator, gearbox, and electronic card repair.

Future Plans and Revenue Goals

GreenTech is set on scaling its predictive maintenance algorithms using AI and machine learning, with a goal of achieving substantial revenue growth over the next two years. The company asserts that it manages multi-brand wind assets and provides support to clients throughout India and Asia, including regions such as Vietnam and Sri Lanka, while also exploring opportunities in other markets within Southeast Asia and the MENA regions.

Supply Chain Ecosystem

The robust supply chain ecosystem of GreenTech comprises over 100 suppliers, 20 repair loops, more than 7 significant component partners, and an inventory of over 6000 components.