Most innovative power company (renewable power) (private sector) - Simpa Energy India

Simpa Energy India, the leading pay-as-you-go solar company in India, combines clean energy solutions, point-of-sale financing and doorstep services to make clean power simple, affordable and accessible to everyone. Simpa uses proprietary remote asset monitoring and mobile payments technologies to facilitate affordable credit. The smart panel technology enables financial inclusion and energy access for the unbanked and energy-poor in villages and towns across India. The company is empanelled by India's Ministry of New and Renewable Energy (MNRE) and has been operating in the state of Uttar Pradesh in India since 2013. Simpa sells solar power systems on financing to households and shops in rural India. Customers make a small initial payment to have the solar PV system installed, then it's simply pay-as-you-go for the electricity. Simpa mimics the compelling pricing model of pre-paid mobile phones. But there's an important twist; these small payments for energy service also add up towards the total purchase price and once fully-paid, the customer owns the system, enjoying clean, reliable electricity for free. The company is backed by investors such as Asian Development Bank (ADB), the US Government through Overseas Private Investment Corporation (OPIC) and international companies like Engie and Schneider Electric. Simpa has received recognition nationally and internationally for its work and impact. The company's unique offerings provide solar power systems on lease-to-own financing to its customers. Customers choose from a variety of products providing combinations of lighting, air cooling and television. Simpa takes responsibility for after sale maintenance, taking away the hassle from the customers. Having a Simpa system ensures better indoor air quality, reliable lighting, better education of children and a safer environment for women, and longer productive hours for small and medium businesses. The company recruits its staff locally and will also provide partnership opportunities to villagers who can engage with Simpa for sales and service. Simpa utilises a rooftop solar leasing model made possible with its patented pre-paid metering and control technology. INSTALL Customers make a small down payment for installation. TOP-UP Customers buy prepaid energy service days from local agents. UNLOCK When customers are ready to buyout, the system unlocks permanently providing free energy.