Kozhikode: Wayanad-based Vatsaa Energy Pvt Ltd, which builds floating solar plants, is set to go global.
The startup is part of India's bilateral investment agreements with Malaysia worth US$36bn inked this week.
It will build floating solar plants over reservoirs of Malaysia’s hydropower projects.
The young entrepreneurs from Wayanad, who built their first plant over the Banasura Sagar reservoir there in 2015, are excited at going global and getting much better visibility back home.
The MoU was signed between Vatsaa and Malaysia's Mutiara Etnik Sdn Bhd in New Delhi on Monday in the presence of Malaysian Prime Minister Najib Razak and Union commerce and industry minister Nirmala Sitharaman.
The team, headed by Ajay Thomas, incubated their model at StartUp Village in Kochi in 2014.
“When we introduced, the KSEB officials were impressed by our idea and allowed us to implement it in Wayanad," Mr Thomas said.
"At Banasura, we constructed a 10-kilowatt capacity plant which cost `20 lakh for the KSEB under its Energy Open Innovations Zone project. For Malaysia, we'll be building 10-MW plants."
The group constructs on-grid solar plants also in lakes, rivers and oceans after studying geographic and climatic conditions.
"The plant is anchored so that changes in water level does not affect its stability. The system can withstand heavy winds, rains, snowfall and even tornadoes," he said.