ZunRoof receives USICEF's grant

Solar rooftop firm ZunRoof Tech said Wednesday that it has received a grant from US-India Clean Energy Finance (USICEF) in the fourth round of funding programme. The USICEF is a partnership between the Ministry of New and Renewable Energy, the India Renewable Energy Development Agency (IREDA), the Overseas Private Investment Corporation (OPIC) and a consortium of foundations.

The awardees have requested a grant for various project-preparatory activities, including legal, technical and financial advisory. "We are glad to join the company of Indian clean energy firms chosen by USICEF and to receive this grant. It is not only a strong endorsement of ZunRoof's vision, but it also motivates us towards our mission of making clean energy accessible to homeowners across the country," Pranesh Chaudhary, founder and chief executive officer, ZunRoof, said in a statement.

The USICEF grant to ZunRoof will cover the cost of up to 2 per cent of 10 megawatts (MW) of solar rooftop projects across the country. In April, ZunRoof received a pre-series A funding of USD 1.2 million from Pirojsha Godrej.

The company has designed solar rooftops for over 10,000 residential houses and is already a market leader for residential solar rooftops in more than 40 Indian cities. ZunRoof is also gearing up to launch new smart energy products and services targeted at residential customers.