Wind O&M Specialist GreenTech Secures INR 30 Crore in Funding Led by Transition VC

GreenTech, a tech-driven operations and maintenance (O&M) firm specialising in wind turbine asset management, announced that it has raised INR 30 crore in its first funding round. The investment, a strategic mix of equity and debt, was led entirely by Transition VC, India’s first venture capital fund dedicated to the energy transition.

The fresh capital is earmarked for a significant scaling of GreenTech’s global infrastructure. Key priorities include upgrading the company’s proprietary AI/ML predictive maintenance engines, modernizing its SCADA (Supervisory Control And Data Acquisition) analytics platforms, and accelerating business development across India and burgeoning international markets in Southeast Asia (SEA) and the Middle East and North Africa (MENA).

Redefining Wind Asset Management

Founded in 2018, the Coimbatore-headquartered GreenTech offers an integrated suite of services - ranging from full-scope O&M to crane-less major component replacement - the company is shifting the industry toward a "condition-based" predictive strategy.

           "GreenTech is committed to elevating wind asset management through data-driven maintenance and comprehensive multi-brand expertise," said Daniel Raj, Founder of GreenTech. "Our focus is to maximize generation and deliver sustained value for asset owners as the renewable energy sector continues to expand."

Raiyaan Shingati, Co-Founder & Managing Partner at Transition VC, said "Over 30 GW of assets will be free from OEM warranties by 2030. This unmet need is GreenTech’s opportunity to become the industry leader."

Bridging the Technology Gap

Historically, wind O&M in India has relied on Original Equipment Manufacturers (OEMs) using reactive models, often leading to delayed fault detection and high operational costs. 

GreenTech’s architecture utilizes a global control center in Coimbatore to provide real-time anomaly detection and failure forecasting. This technology-led approach significantly reduces machine downtime and optimizes energy output for multi-brand turbine fleets, the company claims.

The company’s supply chain features over 100 suppliers, 20 repair loops, and an inventory of 6,000+ components.

Tapping into a Growing Market Opportunity

India’s wind market currently exceeds 50 GW of installed capacity, with a government target of reaching 150 GW by 2030. Currently, Independent Service Providers (ISPs) like GreenTech manage less than 5 GW of these assets, leaving a massive unaddressed market. As turbine warranties expire, the demand for high-quality, cost-effective independent service is surging.

With this new funding, GreenTech plans to transform its repair and refurbishment facilities into a multi-disciplinary hub covering mechanical, electrical, and electronic systems. The company is targeting a multifold increase in revenue over the next 24 months.

Shoeb Ali, Co-Founder & Managing Partner at Transition VC, noted, "With global OEMs leaving India, approximately 30 GW of assets need ISPs who can bring technical expertise at lower prices. We see at least INR 3,000 crore of white space in the Indian wind O&M market, and GreenTech is set to capture a significant share."