SunBorne Energy (backed by General Catalyst & Khosla Ventures) has closed a funding of $ 5 Million as per a SEC filing (Source). The company is looking at raising $20 Million. SunBorne is an early stage company developing utility scale concentrated solar thermal power plants in India. The company aims at deploying proprietary technology innovations supported by local sourcing enabling reductions in cost per megawatt (MW) of generated power.
The venture is presently focused on Indian market, as the company foresees – “significant potential for solar thermal electric power in India due to its rapidly growing economy, acute power needs, and abundant availability of solar radiation.”
Earlier in August 2011, SunBorne Energy had tied for debt funding to the tune of Rs 140 crore ($30.5 million) from domestic banks for its 15 megawatt (MW) solar photovoltaic plant in Gujarat. The total project cost had been estimated in the range of Rs 200-240 crore. State Bank of Patiala, the lead bank, with three other banks, Export-Import Bank of India, Canara Bank and State Bank of Travancore, participated in the debt program.
The company may be on a hiring mode to augment their team in India. We could identify the following key vacancies on their web site: Vice President – Engineering, Solar PV Business & Senior Manager/AGM Civil Engineering. Those interested in exploring an opportunity with SunBorne energy can check out the details at – http://www.sunborneenergy.com/careers.html.