Sankhe on mission to improve solar energy ecosystem
Reliance Industries Limited (RIL) has signed a US$32 million definitive agreement to acquire majority stake in SenseHawk of California, a Solar Digitization Platform (SDP) with customers throughout the solar asset lifecycle in the US, EMEA, APAC and SEA.
The deal includes funding for future growth, commercial rollout of products and R&D by the developer of software-based management tools for the solar energy generation industry.
SenseHawk, founded in 2018, helps accelerate solar projects from planning to production by helping companies streamline processes and use automation.
SenseHawk has helped 140+ customers in 15 countries adopt new technology for their 600+ sites and assets totalling 100+ GW.
SenseHawk’s Solar Digital Platform offers end-to-end management of solar asset lifecycles.
SenseHawk, along with RIL’s other investments in New Energy, will be synergistic and create unique solutions with higher value to customers, Mukesh D. Ambani, RIL Chairman and Managing Director, said on 5 Sept 2022.
Commenting on the partnership, Swarup Mavanoor, CEO and Co-Founder, SenseHawk, said, “The SenseHawk team foresees strategic value in working with RIL, as one of the largest global infrastructure corporations, and look forward to this next phase in our growth.”
Rahul Sankhe, President and Co-Founder, SenseHawk, elaborated, “We are on a mission to improve the solar energy ecosystem, acquiring 50% of the market by 2025 and with RIL as our partner, we will accelerate on our execution toward that goal.”
The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete before end 2022. fiinews.com
