According to reports, private equity firm Zephyr Peacock has invested up to Rs 50 crore in Mumbai-based Gadhia Solar, sources close to the development told VCCircle. However, details of the investment were not immediately known and the company spokespersons were not available for comment till the time of filing this article.
The solar energy company provides energy solutions by using parabolic concentrated technology and has implemented some of the world’s largest solar thermal systems during the past two decades. HTT GmbH of Germany provides technical support to the firm which has developed various applications based on solar concentrators, including solar cooking apps (steam cooking, thermic oil-based cooking, etc.), solar air-conditioning, large-scale drinking water systems, solar crematorium and waste water evaporation, among others. The company has a dedicated research and development (R&D) team in Germany and owns a manufacturing plant in India.