Mahindra Launches ‘TEQO’ - Asset Optimization Solution for Global Renewables Industry
- The name TEQO is derived from three words, Technology, Quality and Operations and reflects the company’s aspiration o deliver a comprehensive, technology-enabled, asset management solution.
Chennai, June 12, 2019: Mahindra
Partners, the USD 1 billion Private Equity division of the Mahindra Group,
today launched TEQO, a technology driven asset care company that offers
optimization solutions for Renewable Energy customers in India and globally.
Mahindra Partners currently manages the Group’s Cleantech Division, including
Mahindra Susten, which is India’s leading solar EPC company.
Mahindra
Teqo enables Renewable energy asset owners to maximize their returns by
leveraging advanced technologies, including Machine Learning, Artificial
Intelligence, IoT, Big Data, Robotics, Augmented Reality and Natural Language
Processing.
TEQO began
life back in 2013 as part of Mahindra Susten, rapidly growing into the world’s
tenth largest provider of solar Operations and Maintenance (O&M) services.
This prompted Mahindra to give the company a new identity, to accelerate its
growth, with the aspiration to emerge as a leading player in the global Renewable
Energy asset management Industry.
“I am delighted
to see the successful journey of TEQOover the last six years from a captive
O&M department within Susten, into a business unit and now as an
independent entity – TEQO. With digitalization, sustainable technologies and
customer centricity at its core, I am confident that TEQO will lead the way in
the tech enabled Renewable Energy O&M space globally” said Parag Shah, Managing Partner, Mahindra
Partners.
TEQO offers
customers cutting edge Asset Monitoring solutions, power generation maximizing
algorithms, precision robotics, automated drones, on-ground operations and maintenance
fleets. In addition, it also offers asset management services, technical due
diligence expertise and performance analysis services. In its earlier avatar,
the company was known for its customer centricity and has always strived to
help customers get the best out of their renewable energy assets.
“With over 4 GWp of projects experience in a
short span of 6 years, and a growing eco-system of advanced technology products
and services, backed by a strong team with deep domain expertise, we at TEQO
are proudly building the most comprehensive renewable energy asset management
company with a global footprint.” said Steve
Odak, CEO, Mahindra Teqo.
The company
aims to drive innovation as the industry demands smarter ways to maximize
generation with a clear line of sight to hybrid Solar, Wind, Storage and
conventional energy portfolios, as it aims to reach a 20 GWp portfolio by 2022,
with a significant global footprint. The company remains firmly committed to
serving its customers and enabling them to succeed in the competitive renewable
energy landscape.
As the
Renewable Energy industry continues to grow rapidly, with the global Solar
industry set to triple its installed capacity by 2027, TEQO has taken a
proactive approach to identifying the issues from hybrid portfolios, including
Solar, Wind, Storage and conventional energy sources. The software and
analytics platform is capable of integrating insights from hybrid portfolios
and offering a unified view to the asset owners for seamless monitoring and
analytics to maximize generation and ROI from their investments.
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