THE WORLD these days is facing a unique challenge — how to balance the needs of an energy hungry civilisation while addressing the issues of climate change that power generation brings forth. Anmol Jaggi had set out to deliver solutions to the dilemma, more than 15 years ago, by venturing into the clean energy sector.
Jaggi forayed into carbon trading when he was in his final semester in college, buying carbon credits from wind farms in India and selling them to European firms.
Today, his company Gensol Engineering Ltd. is a one-stop shop for all things related to solar power generation, from advisory services to turnkey EPC projects to being an OEM. The company also entered the EV manufacturing sector in 2023 and announced its maiden electric vehicle to be manufactured at its greenfield plant in Chakan, Pune. The facility can produce 30,000 EVs per annum.
Gensol has also put up 600MW of solar projects, including rooftop, ground-mounted, and floating installations, across India. It has expanded its footprint to South-East Asia, West Asia, and Africa.
In 2019, Jaggi co-founded BluSmart, which operates in the EV ride-hailing and EV charging infrastructure space in Delhi-NCR and Bengaluru. Its total fleet of nearly 7,000 EVs has saved 31,000 metric tonnes of CO2. It currently operates 40 charging hubs with 5,000 charging stations.
Gensol’s revenue grew 145% YoY to ₹390 crore in FY23, while BluSmart crossed $50 million in annual revenue run rate, delivering over 100% YoY growth. — Rajiv Ranjan Singh