GreenTech, a technology-driven operations and maintenance (O&M) company specializing in wind turbine asset management, has raised ₹30 crore in its first funding round, comprising a mix of equity and debt, led entirely by Transition VC, India’s first venture capital fund dedicated to the energy transition.
The capital will be deployed to expand GreenTech’s infrastructure, enhance its AI- and ML-driven predictive maintenance platforms, upgrade SCADA analytics systems, and accelerate business development across India and select international markets in Southeast Asia and the MENA region.
Redefining Wind Asset Management
Founded in 2018, GreenTech provides OEM-agnostic O&M services for multi-brand wind turbine assets, including full-scope operations and maintenance, predictive analytics, SCADA modernization, component repairs, blade inspections, and crane-less major component replacement. Its global control center in Coimbatore enables remote monitoring, real-time anomaly detection, and AI-enabled failure forecasting, reducing downtime and optimizing energy output.
Bridging the Market Gap
Historically, India’s wind O&M market has been dominated by reactive maintenance models from OEMs. GreenTech positions itself as a technology-led independent service provider, enabling condition-based and predictive maintenance. The company currently manages assets across India, Vietnam, and Sri Lanka, supported by a supply chain of over 100 suppliers, 20 repair loops, seven major component partners, and an inventory of more than 6,000 components.
Strategic Opportunity
India has over 50 GW of installed wind capacity, with a government target of 150 GW by 2030. More than 30 GW of assets are expected to move out of OEM warranties by 2030, creating strong demand for ISPs. Transition VC co-founders Raiyaan Shingati and Shoeb Ali highlighted that this represents a ₹3,000 crore market opportunity, positioning GreenTech for significant growth.
Leadership Perspective
“GreenTech is focused on enhancing turbine performance and reliability through data-driven maintenance and multi-brand expertise,” said Daniel Raj, Founder, GreenTech. “We aim to deepen our technology capabilities and expand our footprint to support asset owners effectively as renewable energy capacity scales up.”
With this fresh capital, GreenTech plans to transform its repair and refurbishment facilities into a multi-disciplinary hub and target a multifold increase in revenues over the next 24 months, driven by expansion in under-served domestic and international markets.
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