GPS has launched ARYA, a climate infrastructure platform focused on sustainable biofuels and industrial decarbonization projects. Founded with an aim to help India achieve its Net Zero target, Arya will incubate, develop, and operate climate-positive projects, with GPS Renewables as the execution partner.
This trend is interesting - one in which firms whose main business was providing a service (in this case a solution and as an EPC) becoming also developers.
We saw this happening in solar, where firms realised that being an EPC was a one time revenue opportunity for a project but being a developer meant continuous revenues.
Of course, it requires a certain level of company capability and maturity (not to mention cash stacks) to explore this avenue. Presumably, GPS has reached that stage.
