Robotic PV Panel Cleaning Firm Airtouch Solar Signs Agreement with ReNew Power

Israel-based robotic PV panel cleaning specialist, Airtouch Solar has signed an agreement with ReNew Power, a leading Indian start-up that delves into renewable energy.

Airtouch Solar signed orders in an overall scope of approximately USD 3.3 million with the Indian mega-corporation ReNew Power for the supply, installation, operation and maintenance of solar panels cleaning robots in several projects. This is a follow-up transaction with the company’s existing strategic client, which manifests a significant vote of confidence in the products, services and capabilities of Airtouch Solar, the Israeli company has revealed.

Tal Laufer, CEO of Airtouch Solar, said, “We are happy to announce today another batch of orders in India with ReNew Power, one of the largest solar developers in the subcontinent, which is one of the largest renewable energy markets globally, for a total of about 52 GW of solar facilities. The expansion of our activity in India corresponds with Airtouch’s growth strategy, and we perceive these orders, which are additional transactions with an existing client – ReNew – as a significant vote of confidence by a major strategic client, who chose to expand the scope of their activity with us. The Indian subcontinent is a major growth market for Airtouch.” Tracing the recent developments of Airtouch, he added, “Two months ago, we updated several agreements for the sale of robots to clients in India, including the HERO conglomerate, which also chose to expand their activity with us. The production, logistics, service and sales arrays we launched over the last year in India, support the accelerated expansion of our operations in the country, and enable proximity to the clients, as well as reduction of delivery and response times, while improving the profitability ratios. An added benefit is the proximity to additional potential territories in Asia, alongside the expansion of our operations in Israel.”

The Expanding Footrprint of Airtouch in India 

Airtouch Solar continues to expand its activity in India. The company has announced a batch of orders in a value of  close to USD 3.3 million with the Indian mega solar corporation ReNew Power. The transaction with ReNew Power includes agreements for the sale, installation, operation and maintenance of robotic systems manufactured by Airtouch for the dry (water-free) cleaning of panels in seven solar fields of ReNew Power in India.

ReNew Power, one of the three leading development companies in the solar industry in India, has active solar projects in a scope of 3.7 GW, and additional projects in a scope of 3.1 GW, regarding which binding contracts have been signed. At present, ReNew Power operates dozens of projects throughout India. ReNew Power’s revenues in 2021 amounted to approximately USD 912 million. According to Airtouch, the new order from ReNew Power may have a positive impact with regards to the expansion of its activity in India.

An overall remuneration in the amount of approximately USD 1.0 million was set for the supply and installation of the system across all projects. This amount is divided into several milestones according to the rate of the supply, installation and operation of the systems. The remainder of the remuneration, in an estimated scope of approx. USD 2.3 million, is expected to be received for the provision of services and maintenance to the projects, and will be spread over a period of 25 years from the date of handoff of the projects to the client. The transaction with ReNew Power will be performed by issue of orders for execution for the projects.

The current transaction is subsequent to the execution of a previous order from ReNew Power from April 2021, for the supply and installation of systems in three projects in India, in an overall amount of approximately USD 2.7 million, as well as operation and maintenance services in the amount of close to USD 5.6 million.

According to the company, the engagement in the aforementioned agreements batch constitutes a significant vote of confidence by the client, which is a major and strategic client of the company.

During recent months, Airtouch reported on signing agreements with clients in India, which include an existing client from the HERO Indian conglomerate, for the sale and operation of solar panels cleaning robots, in an overall amount of more than USD 1.3 million (for the sale of the robots and the provision of maintenance services).