Corrit, Powering A Green Future through Solar
“The first step in the direction of Entrepreneurship is the most exciting yet difficult one. Be in touch with the right set of people to guide you. Avoid spending your valuable time on lengthy discussions, action should be the first and foremost priority.”
With ever so increasing population, India has always faced a scarcity of energy, in spite of the fact that India stands among the highest energy producers in the world. The need for electricity is growing rapidly with the amplification of the demand, and this is the time when change is needed the most and renewable energy is our safest bet.
The renewable energy sector has come up as the most environment friendly and viable choice to meet the needs of one and all, spreading its reach to the rural areas where electricity is still considered a luxury. A number of residential and official spaces have understood the importance and have started to make solar their way of life by setting up properties installed with the solar powered units.
Picking up a steady momentum and making its way in the market at a decent pace, solar energy has overtime gained popularity and people have started to give it its long due importance. Hence, Mayur Misra, Director, Corrit Energy & Infra provides cutting edge technological solutions with a Solar EPC and Consultancy Company that caters to the rising energy needs of residential as well as corporate clients.
They offer design, engineering, and installation of a solar power plant and also assist large developers in managing their project financially and operationally. They have commissioned and consulted 22MW of solar projects in India and Africa. Corrit is also on course to make its footprint in the Middle East this year and has also signed a MoU with SRM University, Chennai regarding setup of R&D lab on the campus for research and development on patentable technologies in this sector.
Established in 2015, Corrit has already served over 50 corporates. In 2018, it took its first international assignment of consulting a Middle East MNC for its project in Africa. In 2019, Corrit looks forward to serving Middle East based opportunities and takes pride in setting up the joint second largest non-commercial plant in NCR, India.
Business Connect: How do you feel you are different from your competitors?
Mayur: Corrit provides highly affordable and technical solutions to energy requirements. Our team comprises of people with diverse backgrounds allowing for lateral thinking to provide the correct solution depending upon customer requirement. Our team prides itself in providing full documentation support for net metering and subsidy approval from the government.
Business Connect: Did you see any transformation happening for startups, over the years in your field?
Mayur: In last 2 years, the Renewable Energy sector has seen exponential growth in the number of startups, primarily backed by Government Initiatives and awareness among masses. A new breed of startups is setting up its base on technology and information. This has also boosted vertical growth within the sector.
Business Connect: Did everything come easy, or you have your story of struggle?
Mayur: Nothing is free and nothing comes easy in this world. We have had our share of struggle like everyone else. Our team has taken a hit from predatory pricing from competitors as well as human resource management issues. The sector is suffering from decreasing prices and lack of awareness & demand. We struggle for that as well.
Business Connect: What kind of clients do you serve, any special mentions?
Mayur: We provide services to individual home owners, residential societies, commercial building owners and businesses. It includes solar consultancy for clients who require design and engineering of solar plants and client looking for investors in their assets. At the residential level, we provide a complete solar solution from design and engineering to installation and commissioning.
Business Connect: How do you ensure unbreakable faith of clients in your company?
Mayur: We never compromise with quality to make profits and thus run a long term game. We ensure that we recommend the right capacity as per the needs and availability of space.
Business Connect: How do you keep pace with the changing market trends?
Mayur: Our investment in human resource development is what keeps us updated. Our team explores the latest technologies and products in the market to increase the efficiency of plants and reduce the cost for the customer.
Business Connect: Do you believe R&D is essential for the growth of the company?
Mayur: R&D is the food for innovation in the company. Despite being a startup, we are investing in solar research in collaboration with an academic institution as specified earlier.
Business Connect: Do you still come back to work with the same zeal, like you did when you started?
Mayur: Definitely yes. In fact, it has only gone upwards. The mission to build a green India and provide a cleaner environment to future generation keeps our zeal alive.
Business Connect: In terms of your market, what do you feel the future holds for entrepreneurs?
Mayur: The market is highly dynamic but suffers from lack of awareness. For future entrepreneurs, the sector is full of opportunities not just in Tier-1 cities but in Tier-2 and Tier-3 towns. With government supporting rooftop solar power plants, it would open up doors for investments and thus business opportunities.
Business Connect: How necessary do you feel is it to keep your employees content, how do you ensure it?
Mayur: Human Resource in our opinion is more important than Capital Resource. They are the builders of the company and hold great importance. They carry our brand and build a reputation in society. Their contentment is important for the growth and stability of the company. It is ensured through our flexible management. We listen to our employees. We care for their growth and not just ours. Investing in learning has been the key. In addition, flexible work timing and a open and approachable organization helps to bring out new ideas.
Business Connect: Who is your role model in the business/entrepreneurial world and what have you learned from the person?
Mayur: Elon Musk has been the greatest role model for me and probably for all the other entrepreneurs in this sector as well. His out of the box approach towards solving a problem can be easily summed up as “Revolutionary”.
Business Connect: How are you giving back to society (CSR, if any)?
Mayur: Building a greener world in our opinion is the duty of the highest order. Corrit is also engaged with a third party working on micro grids for small villages.
Business Connect: Apart from work, what else do you like to spend your time doing?
Mayur: Engaging in debates and discussion around the economic, political and social development in India. There is frequent enrichment of my knowledge through technical discussion on latest technologies built across the world. I am also an ardent follower of Cricket.
Business Connect: How do you see the initiatives of present government with respect to your industry? Have they helped you in any sense?
Mayur: The biggest initiative taken in the sector is the International Solar Alliance. This would allow India to shape the future policy direction in the sector and attract investment for R&D. Apart from this, the government has increasingly allocated more money for rooftop plants and more projects are being taken up by government bodies. This opens up opportunities and also helps build confidence in the customers that this is the right technology.
In the near future, Mayur is positively looking forward to Corrit, a growing venture to collaborate with flourishing businesses of innovative manufacturing technologies and pushing the EPC business ahead.