In this insightful interview, R. Chandra engages with Nishant Sood, Country Lead- India of candi solar, to uncover the inspiration, challenges, and future plans of his innovative solar energy company.
R. Chandra: To start the interview, can you share the about mission & vision of candi solar, along with your background?
Nishant Sood: My journey into the renewable energy sector was not linear. I started as an engineer, having studied at IIT Delhi, followed by an MBA from IIM Calcutta. My career began in the finance sector, where I worked in investment banking in cities like Mumbai and Hong Kong. However, after spending several years in finance, I felt a strong urge to be apart something more tangible and impactful. This desire led me back to India, where I initially started a cutting tool business. In 2019, I found my true calling in sustainable energy and became a part of candi solar as Country Lead. The mission & vision behind candi solar is to create a significant impact by providing clean, renewable energy to businesses, ultimately helping to combat climate change.
R. Chandra: What were the initial challenges that candi solar faced in the starting days, and how did you overcome them?
Nishant Sood: The early days were challenging, especially with the unexpected onset of the COVID-19 pandemic. We had just secured a round of investment before the first lockdown in March 2020, which was fortunate timing that helped us sustain through the uncertain period. However, the pandemic brought our operations to a near halt for about five to six months. During this downtime, we focused on refining our systems, processes, and strategies. One of our priorities was to retain our entire team, knowing that their experience and skills would be crucial for our growth post-pandemic. It was a tough period, but our resilience and commitment to our mission helped us navigate through it.
R. Chandra: How has the company’s mission evolved since its inception?
Nishant Sood: Our mission, which is to power a more sustainable planet, one rooftop at a time, has remained consistent since we started. However, the way we approach our mission has evolved. We have set an ambitious goal to achieve 1 gigawatt of installed capacity by 2030, which would offset the carbon emissions of a city like Zurich. While our broader vision hasn’t changed, we continuously adapt our strategies to meet the realities on the ground and to leverage new opportunities as they arise.
R. Chandra: Can you explain candi solar’s business model and how it stands out in the solar energy market?
Nishant Sood: Candi solar operates with a focus on the commercial and industrial sectors, which is what candi solar stands for. We provide end-to-end solutions, covering everything from assessment, construction, and financing, to maintenance of solar assets. A key aspect of our model is our ability to innovate and cater to what we call the “missing middle.” While most developers target either large investment-grade companies or government projects, we focus on small and medium enterprises (SMEs). These businesses often lack access to the necessary capital and resources to transition to solar energy. By offering customized solutions and flexible financing, we are enabling these SMEs to adopt solar energy, which sets us apart in the market.
R. Chandra: What are the key markets you are targeting, and how do you plan to expand in those regions?
Nishant Sood: We are currently operating across India, with a strong presence in industrialized and solar-friendly states such as Maharashtra, Gujarat, Karnataka, Tamil Nadu, Punjab, and Haryana. Our focus now is on deepening our penetration in these regions. We plan to increase our installed capacity and explore new markets within India that have a growing demand for sustainable energy solutions. Expansion into other regions will be based on a combination of market potential and our ability to deliver customized solutions efficiently.
R. Chandra: How do you ensure the affordability and accessibility of your solar energy solutions?
Nishant Sood: Affordability and accessibility are at the core of our business model. We achieve this through customization and innovation. Each customer has unique technical and credit needs, so we assess these factors to provide tailored solutions. For example, in Gujarat, where third-party power sales are restricted, we offer deferred payment plans or performance-based loans. This flexibility ensures that more businesses can afford to adopt solar energy. By offering various financing options, we make it possible for companies of all sizes to transition to renewable energy without significant upfront costs.
R. Chandra: What role does technology play in your business operations and customer solutions?
Nishant Sood: Technology is integral to everything we do at candi solar. It allows us to scale our operations and offer efficient solutions across India. We utilize AI and automation to streamline data assessment, system maintenance, and troubleshooting. For instance, we employ robotic cleaning systems for solar panels, which reduces maintenance costs and improves efficiency. Our use of technology extends to customer engagement as well, where we offer simplified power purchase agreements and automated processes to make solar adoption as seamless as possible for businesses.
R. Chandra: How does candi solar contribute to environmental sustainability and reducing carbon footprints?
Nishant Sood: Our contribution to environmental sustainability is central to our mission. Every solar project we undertake directly reduces carbon emissions by replacing fossil fuel-based energy with clean, renewable energy. Our goal to achieve 1 gigawatt of installed capacity by 2030 would significantly offset carbon emissions, equivalent to that of a city like Zurich. By enabling businesses to adopt solar energy, we are helping to create a more sustainable planet, one rooftop at a time.
Through innovation, strategic expansion, and a steadfast commitment to sustainability, candi solar is leading the way in the solar energy market. The journey is a testament to the impact that visionary leadership and cutting-edge technology can have on creating a sustainable future.
