Mumbai (Maharashtra) [India], October 11: Solar energy is emerging as a game-changer in the global energy mix as the globe shifts toward clean, sustainable, and renewable energy sources. As countries work to minimize their carbon footprints and meet ambitious climate objectives, India, as a bright economy, is making significant strides in the solar power revolution. Krivi Energy Pvt Ltd, a growing solar enterprise with an aim to ignite a brighter and more sustainable future, is leading the effort.
India’s solar business has grown exponentially as a result of favorable government policies and incentives. India ranked fourth worldwide in solar energy installation in 2021. The total installed solar capacity in India as of March 31, 2023, is an astounding 66.78 GWAC.
Krivi Energy Pvt Ltd is a fast-growing leader in the solar sector of India. Managing Director, Mr. Raj Bhalala, founded the company in 2013, and it has rapidly expanded, diversifying into solar cells, panels, and EPC services. Krivi is on a quest to lead India’s solar power revolution, with the goal of making our country Self – Dependent in energy.
The Remarkable Journey of Krivi and its Founder
Krivi Energy Pvt Ltd began its career as a supplier of solar cells and panels for solar power plants. Krivi found the market’s potential under the energetic leadership of Mr. Raj Bhalala by performing extensive market research, and analyzing client wants, rivals, and industry trends. The government’s financial incentives, tax breaks, subsidies, and programs functioned as an additional boost. Krivi quickly established a considerable client base in the solar sector. Krivi achieved sales of Rs. 147 crores in FY 2023 and is on track to achieve sales of Rs. 240 crores in FY 2024.
Krivi’s extraordinary success can also be linked to its founder’s remarkable journey and passion for solar power. Born in 1988 in Mumbai, Mr. Raj Bhalala hailed from a business family which dealt in the trading of Iron & Steel. Mr. Raj Bhalala’s father wanted him to get the best education, so he was sent to USA to complete his Bachelors & Masters in Mechanical Engineering Technology from Rochester Institute of Technology, New York.
Mr Raj Bhalala always looked up to his dad as a mentor. He has seen his father overcome all challenges as a businessman and then building an empire on principles which he never comprised with.
Unfortunately, in 2010, while Mr. Raj Bhalala was studying in the USA, his father, Mr. Bhupendra Bhalala, passed away in a car accident, and he had to come back and handle his dad’s business. Though Mr. Raj Bhalala handled his dad’s business with the same zeal and principles, his passion was lying elsewhere. Mr. Raj Bhalala studied solar extensively while he was in USA, and that was what he was interested in and keen to work on. His mother, the chairperson, Mrs. Rita Bhupendra Bhalala, guided and supported him to pursue his passion. Thus, in 2012, he surrendered all his shares in his father’s company to the other shareholders and laid the foundation of Krivi Metalex Pvt Ltd in April 2013 with a vision to do something in the space of Solar. The same company got renamed in 2018 as “Krivi-Tex Pvt Ltd” and in October 2023 as “Krivi Energy Pvt Ltd”.
Furthermore, Krivi has already started working on EPC projects in the field of solar from the beginning of 2023. In very short time they have gained good success in it. Mr. Veer Bhalala, younger brother of Mr. Raj Bhalala, graduated from Deakin University, Melbourne, Australia, in Business Management, is heading the new Solar EPC division.
Krivi Supports the Vision for Atmanirbhar India
Krivi is currently aiming to raise Rs. 310 crores (USD 37.5 million) in equity. Krivi anticipates significant growth in its Solar division.
Mr. Raj Bhalala and Mr. Veer Bhalala have a long-term goal of making India self-sufficient in the energy sector. They intend to build 2GW fully integrated production units for Solar Cells, Solar Panels, Silicon Wafers, and Polysilicon. These plants will be built in four stages, with completion scheduled for 2035. Their dedication is consistent with the Indian government’s goal of transforming the country into an energy exporter.
Krivi’s dedication to manufacturing excellence, innovation, and environmental responsibility is paving the road for India to become a global leader in energy exports. In doing so the company is supporting PM Modi’s laudable vision for a Self-dependent or Atmanirbhar India.
Mr. Raj Bhalala expressed confidence about India’s growth in the solar sector. He said, “The journey has only just begun, and there is much more to come.” India’s solar potential, estimated at over 748 GW, indicates our infinite ability for solar energy as well as our commitment to a sustainable future.”
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