Skyfri Group, a cleantech company headquartered in Oslo, Norway, has acquired India’s third largest O&M provider Avi Solar.
Skyfri, backed by leading climate investors SpeedInvest, Singularity, and Link Venture Capital, is one of the fastest-growing clean technology firms globally, accelerating growth through targeted acquisitions and deployment of technology to fully automate solar asset management.
“The acquisition of Avi Solar is part of a strategy to consolidate the O&M industry globally and automate most of the tasks that are manual today. Our ambition is to become the largest and most trusted technology platform for solar asset management worldwide. The plan is to streamline, automate and put a layer of quality on solar asset operations for asset owners. We do this through our proprietary technology, operational staff, domain expertise, and best practices from Europe,” says CEO of Skyfri, Pratik Ghoshal.
The Skyfri technology takes care of a solar asset (or portfolio of solar assets), from its very inception to the end of its asset lifecycle. This is done through the combination of firmware, software, and technology solutions that are OEM-agnostic and can be deployed on any solar asset regardless of size, installation, or location.
It identifies root causes of production downtime and energy losses in real-time, provides alarms to operational personnel instantly, consolidates former siloes such as billing, invoicing, contracting, maintenance management, and other asset management tasks into one cloud platform. This increases efficiency for clients.
“Taking care of solar assets is today mostly done in separate tasks, by separate companies. For example, billing and invoices are done by one software, while another does monitor, and reporting and a third company does the actual O&M onsite. Skyfri integrates all these verticals into one single source of truth, and one complete digital platform. The scalability of our technology makes it available for several clients, at a reasonable rate, so that everyone, regardless of size can optimize their production,” says CTO of Skyfri, Aslan Shamsutdin.
The acquisition will bring over 500MW of additional solar power plants for some of the largest and most reputed renewable asset investors and owners, such as KKR, Cleantech, Bosch, and Honda, onto the Skyfri platform, called Skyfri Intelligence.