Lead Story

Outlook Start-Up Outperformers 2023: Sustainability Top 3

Top three growth-stage start-ups in the sustainability sector


Lighting Up the Dark Spots

Ind-Barath Power Infra Limited (w), a power infrastructure development company, has been into the business of power generation since 1999. Its projects are based on a variety of fuels like coal, gas and renewable sources.

It has six renewable energy power plants—four biomass plants of 64 MW, a 9.5 MW hydro power plant and a 0.75 MW wind power plant, taking the total operational capacity of its renewable energy plants to 74 MW. The bulk of its projects is in southern India which faces high power deficit and has high power procurement costs.

These projects are located in Tamil Nadu, Maharashtra, Kerala and Himachal Pradesh. In Tamil Nadu, the company has the 20 MW Ind-Barath Energies Thoothukkudi Limited and the 18 MW Raghu Rama Renewable Energy Limited in Ramnad, both of which are biomass-based plants and have Prosopis juliflora shrubs combined with wood powder and matchbox waste as their primary source of biomass. The Ind-Barath Energies Maharashtra Limited is a 20 MW biomass plant in Nanded in Maharashtra, while the 0.75 MW wind power plant of IBPIL is located in Idukki in Kerala. The hydro power plant, incorporated in the year 2000, is located in Dharmshala in Himachal Pradesh.

Among the investors in the group are Citi Venture Capital, Sequoia, Bessemer Venture, UTI, 3i Capital, PTC India Financial Services and Goldman Sachs.

02 Bhilwara Energy

Powering States with Renewable Energy

Founded in 2006, Bhilwara Energy Limited (BEL), the flagship entity in the power section business of the LNJ Bhilwara Group, has been engaged in the renewable power sector and is the principal holding company of all the power ventures of the group. Its businesses include power generation, transmission, distribution and trading.

As of March 31, 2023, BEL has eight subsidiaries. It has presence in states like Himachal Pradesh, Rajasthan, Arunachal Pradesh and Maharashtra. Its 14 MW wind power project in Kolhapur in Maharashtra generated 20.04 million kWh in FY23, while the 192 MW Allain Duhangan Hydro Electric Project in Himachal Pradesh generated 637.13 million kWh. The 20 MW wind power project in Jaisalmer in Rajasthan, by BG Wind Power Ltd, generated 10.57 MU energy during the year. In April 2023, BEL divested its entire equity stake in BGWPL.

03 CJ Darcl

Delivering Sustainable Transport Logistics

CJ Darcl Logistics is an end-to-end transport and logistics company which is involved in packaging and delivering goods. Being a total logistics solutions provider and consultancy company, it invests in technology that optimises end-to-end solutions and reduces carbon emissions.

The company’s multimodal transportation services cover road, rail, coastal and air routes with an eye on operational and environmental sustainability. It promotes sustainable practices under the theme of “Driving towards a greener tomorrow”. In June this year, CJ Darcl, in a move to embrace alternative fuels for both short and long-haul cargo delivery, introduced its first electric vehicle for intra-cargo movement in Bangalore. The company’s multimodal transportation model analyses route maps to uncover the most efficient and environmentally conscious paths for goods transportation, its president Nikhil Agarwal had elaborated while launching its pilot run.

Currently, it has a pan-India network of more than 185 branches and covers more than 5,000 locations.