Cleanleap: Switching gears a little;. How has Prime Minister Modi's ambitious ideas affected business? Is it a more suitable environment for this sort of a venture now than it was with previous Indian governments?
Venkat: Rather than passion-driven it’s a necessity-driven market here in India. But Modi is considered to be one of the leaders who has understood this requirement early – he comes from being the Chief Minister of the state of Gujarat, which is known for its renewable programs.
Cleanleap: He has made some pretty amazing statements, hasn't he?
He has. Let's talk about one event, a new initiative that is going on called REINVEST India
– calling in international companies to set up their units in India. He also makes a statement that renewable energy should be made affordable. Which means that he is not saying that we have to limit this renewable energy to megawatt installations, he's talking about forty million rooftops.
Cleanleap: It does sound like the government now is quite passionate about renewable energy and having solar power. Now, would you say the general public is as well? Are they coming along for the ride? Or getting excited about the idea of replacing fossil fuel energy with solar solutions and wind solutions?
With the kind of encouragement that the government is offering and Recent statement from one of the biggest banks in India, State Bank of India has declared they will be financing these initiatives
– they said that they would finance up to 15000 megawatts of renewable energy in five years. When you have subsidies and financing available I don't think the people will hesitate to go in for such things.
Cleanleap: For a new consumer though do you feel like these kind of products - in particular your products like the One-Kilowatt-in-a-Box or similar - will be affordable for average Indian consumers?
Venkat: I can say yes because for two reasons:
1. Renewables energy is becoming affordable
2. Finance institutes/ banks are coming forward to lend money for such products.
Cleanleap: Mr. Tangirala, thank you for your time.
Venkat: My pleasure.