Sumit Kumar Somani | PickRenew Energy Pvt. Ltd.
Think about the last time you saw a solar panel. Maybe it was on a rooftop, powering a traffic light, or even charging a calculator. They’re becoming increasingly ubiquitous, a silent revolution is powering our lives. The solar industry is one of the fastest-growing fields in the world, with new technologies and innovations emerging at a lightening speed.
There will be a time when your electricity bill will be a faded memory, due to the sun shining on your roof. It might sound like science fiction, but it’s becoming a reality for more and more people every day. It’s the time to transition to cleaner energy sources.
PickRenew Energy Pvt. Ltd. helps organizations to get their renewable energy goals fulfilled through customized and efficient solutions. Founded by Mr. Sumit Kumar Somani, an entrepreneur and business leader, PickRenew was made to guide organizations through the problems of the changing energy world and move toward a sustainable future. With over 20 years of combined expertise within its leadership team, PickRenew brings a wealth of knowledge to help clients make informed decisions and maximize long-term value.
PickRenew provides complete solar energy solutions, from initial feasibility studies and design to installation, operation, and maintenance. Using a data-driven approach, the company optimizes energy systems for maximum efficiency, sustainability, and cost-effectiveness for projects of all sizes.
In the spotlight is founder Mr. Sumit Kumar Somani in an interview of our esteemed “Entrepreneur Of The Year” edition. Learn from his insights and valuable lessons as a true businessman to succeed and make it the best company. Keep reading.
Prime Insights: Brief us on the inception story of the company.
PickRenew was founded with a vision to move towards sustainable and renewable energy solutions by helping organizations through the problems of the changing energy world. With over 20 years of combined expertise, our founders recognized the growing need for efficient, data-driven, and cost-effective renewable energy systems that give long-term value.
The company was born from a passion for helping clients make right and confident energy decisions, with engineering and industry-best practices. Through advanced tools and customized strategies, PickRenew started its journey of providing tailored energy solutions by maximizing performance and getting strong returns on investment.
Today, PickRenew is a trusted partner for businesses and industries looking to adopt sustainable energy solutions, helping them to get a cleaner and brighter energy future.
Prime Insights: How do you balance your personal and professional lives?
Maintaining work-life balance has been a task. I’ve set clear boundaries between work and personal life. Prioritizing tasks and focusing on essentials helps me manage my time. Self-care, hobbies and time with family, is a must for recharging. Open communication with both my team and family helps manage expectations and reduce stress. Finally, I embrace flexibility, understanding that life is unpredictable and needs adaptability to changing demands.
Prime Insights: Being a CEO, is your story of struggle any different from others?
As a CEO, my struggles, like many others, began from scratch with limited resources and financial uncertainty. I made tough decisions, led diverse teams, and balancing growth with sustainability. The pressure of the role made balancing work and personal life difficult. External factors like market shifts and economic downturns were another challenge. Finally, the constant pressure for the company to perform well has taken a toll on my mental well-being.
Prime Insights: What kind of clients do you serve? Any special mentions?
At PickRenew, we provide customized renewable energy solutions for a diverse clientele. We work with commercial and industrial businesses seeking cost-effective sustainability, institutions like schools and hospitals transitioning to solar for energy security, and large-scale project developers requiring end-to-end EPC services. We also help homeowners to turn their roofs into personal power generators. I’m proud of our track record of providing successful projects for notable organizations, helping them get energy independence, maximize performance, and get strong returns on their investments, regardless of project size.
Prime Insights: What are your key offerings for the residential sector?
Customized Solar Systems:
We provide customized solar rooftop solutions that match household energy consumption patterns and available rooftop space.
Cost Savings:
Our residential solar systems reduce electricity bills while providing a short payback period and long-term financial benefits.
End-to-End Service:
From consultation and design to installation and maintenance, we give a seamless solar experience for homeowners.
Energy Independence:
By using solar power, homeowners can reduce dependence on the grid and enjoy uninterrupted power supply.
Sustainable Living:
Our solutions promote environmentally friendly living, reducing carbon footprints and contributing to a greener future.
Prime Insights: How do you keep up with the changing market trends?
I keep pace with changing market trends with a multi-faceted approach. I prioritize innovation by investing in R&D, doing experimentation within my team, and working with startups. A customer-centric approach is crucial; I constantly gather feedback, personalize experiences using data, and foster customer loyalty. Agility is key, so I stay flexible, embrace change, and monitor market trends. I invest in upskilling my team, attracting talent, and building a learning culture. Strategic partnerships are important, so I make alliances and co-create solutions with partners. Finally, I use digital technologies like AI and IoT, invest in digital capabilities, and create smooth digital experiences to meet changing customer expectations. This helps us remain competitive and adaptable.
Prime Insights: Do you believe R&D is needed for the growth of the company?
At PickRenew, I consider R&D crucial for innovating and maintaining a competitive edge in the ever-changing renewable energy sector. Through R&D, I focus on improving efficiency by using advanced technologies like high-efficiency modules and smart inverters. I also use innovative system designs adaptable to various environments, from rooftops to large-scale plants. R&D helps me reduce costs, make solar more affordable, and make eco-friendly solutions for a reduced carbon footprint and greater grid independence. By investing in future-ready technologies like AI-driven monitoring, I make sure our clients benefit from the latest advancements.
Prime Insights: Do you feel CEOs today face equal competition or is there an ‘it’s okay’ attitude to it?
As a CEO, I’ve seen that competition is stronger than ever due to globalization and tech disruption. I’m competing locally as well as globally, which needs innovation and adaptability. While I’m driven to outperform rivals and achieve growth, I also know the value of collaboration, for long-term goals and sustainability. I avoid complacency, understanding that even established companies must adapt. Investor pressure pushes for aggressive growth, but I also prioritize corporate social responsibility and a healthy work environment. I believe finding the right balance between competition and collaboration, or “coopetition,” is crucial in today’s business world.
Prime Insights: How necessary do you feel is it to keep your employees content, how do you ensure it?
I believe employee contentment is essential for several reasons, like-
Increased Productivity: Employees who feel valued and supported perform at a higher level, meet deadlines, and contribute more effectively to team goals.
Employee Retention: Content employees are less likely to leave the company, which reduces turnover costs, minimizes disruption, and retains valuable talent.
Innovation: Employees who feel engaged and empowered share ideas and drive innovation, helping the company stay competitive.
Positive Work Culture: When employees are content, it creates a positive work environment where collaboration, trust, and mutual respect stay. This is crucial for attracting top talent.
Customer Satisfaction: Satisfied employees give better customer service, which results in higher levels of customer satisfaction and loyalty.
Prime Insights: Who do you look up to and what do you convey further to the ones who look up to you?
I admire leaders for their different qualities. I look up to Steve Jobs for his innovative thinking and excellence. I admire Indra Nooyi for her focus on sustainability and employee welfare. Resilient leaders like Howard Schultz inspire me with their ability to overcome adversity. Innovators like Elon Musk inspire me to take calculated risks. I also like Warren Buffett for their contribution to philanthropy and long-term thinking. To those who look up to me, I convey the importance of having a clear vision, leading with integrity, taking challenges, constantly innovating, and remembering the importance of giving back to the community.
Prime Insights: What are your thoughts on CEOs’ participation in the entrepreneurial world?
As a CEO, I see my role going beyond my company in several ways:
Entrepreneurial Role: I have an entrepreneurial spirit, taking risks and innovating, even in established structures. I also explore new ventures.
Mentorship and Guidance: I mentor aspiring entrepreneurs and younger CEOs, sharing my knowledge and network to help them solve challenges. I take part in startup ecosystems, providing resources and guidance.
Investment in Startups: I invest in startups, providing not just capital but also strategic advice based on my experience.
Innovation: I use new technologies and build a culture of innovation, both within my company and in the broader ecosystems, setting an example for others.
Creating Entrepreneurial Ecosystems: I help venture capital, startups, and entrepreneurial networks, helping create an environment for new businesses.
Philanthropy and Social Entrepreneurship: I take part in social entrepreneurship, supporting ventures focused on solving global issues and contributing through CSR programs.
Networking and Influence: I also participate in industry events, connecting entrepreneurs with resources and shaping the discourse around entrepreneurship.
Championing a New Generation: I promote diversity and inclusion in entrepreneurship, supporting initiatives that provide access to resources and mentoring for underrepresented entrepreneurs.
Prime Insights: What message do you want to give to those CEOs who give up on their dreams because of some stereotypes?
To CEOs and aspiring leaders giving up due to stereotypes, I say: Don’t let them define you. True leadership comes from knowing your strengths and vision. The world needs different voices, including yours. Every successful CEO had doubts, but their resilience makes them different. Stay true to your vision, trust your instincts, and surround yourself with believers. Your dreams are valid, and your leadership is needed—don’t let anyone tell you otherwise.
Prime Insights: What does the company hold for it in the future (Plans)?
My plans for PickRenew Energy are:
Expanding Project Portfolio: Doing larger-scale solar EPC projects, expanding across India and internationally (especially the Middle East), and using innovative technologies like floating solar, solar-wind hybrids, and utility-scale battery storage.
Establishing Module Manufacturing Facilities: Setting up a state-of-the-art solar module manufacturing plant focused on high-efficiency modules like bifacial panels and n-type cells.
Battery Manufacturing Factory: Forming a battery manufacturing unit for lithium-ion and advanced energy storage batteries for India’s growing need and helping EVs and industrial backup.
Battery Storage Projects: Developing large-scale battery storage projects for grid stabilization, peak load management, and uninterrupted power supply.
Expanding Infrastructure: Setting up regional offices and warehouses for local client support and collaborating with international partners for innovative technologies.
Training and Development: Launching solar training institute for skilled engineers and technicians and providing community-based skill development programs.
Partnerships and Collaborations: Working with global technology providers and forming alliances with financial institutions.
Green Hydrogen Initiatives: Exploring and investing in green hydrogen technologies and projects.
Prime Insights: What milestones and achievements do the company boast of?
In just the last five years since 2019 with a team of three, I’m proud to have led our growth to a passionate team of 80. We’ve seen huge revenue & MW growth year on year and from 130 KW from the first year our total installation has reached to 80 MW as on date. We’ve also entered new markets and increased our market share in solar rooftop and solar park businesses.
Prime Insights: How are you giving back to society (CSR)?
At PickRenew, I’m giving back to society with CSR works on education, healthcare, infrastructure, and environmental responsibility. We provide school bags and sweaters, distribute sports kits, and do free eye checkup camps. During winter, we distribute blankets to those in need. We’ve also made WBM pathways to improve village roads. We take green initiatives like tree planting and renewable energy awareness. My vision is to bridge social gaps and create a positive impact on underserved communities.
Prime Insights: Lastly, is there a message you would like to give to Prime Insights readers?
A Message from the CEO of PickRenew Energy Private Limited
Dear Prime Insights Readers,
I believe renewable energy is a must for an eco-friendly future. At PickRenew Energy, I’m doing this transition, creating solutions that help businesses and communities while preserving our planet. We aim to make a difference through rural electrification, solar innovation, and community-focused CSR initiatives. I want you to use renewable energy in your own lives. Every small effort contributes to extraordinary change. Let’s work together to build a sustainable energy ecosystem and leave a positive legacy for future generations.
