BANGALORE, INDIA: Wipro Technologies, which today announced a profit of Rs. 1,319 cr in Q1, is betting big in the energy space and is building up its portfolio in this direction. The company is working towards rolling out renewable energy products by the end of the year.

Starting 2008, Wipro had launched a new division called Eco Energy, which was aimed at building green buildings, setting LEED certified facilities. But, going down the line, the company decided to focus on generation, distribution and transformation of energy.

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Speaking exclusively to CIOL, T K Kurien, head, Wipro Eco Energy, said, “Our strategy for Eco Energy is still getting formulated. But, broadly we see that low-carbon economy is going to be the reality in the coming years. We have a five-year time plan to achieve our target. We are right now very small, it will be at least a year before we start making a significant mark in the topline.”

He said the core work started around 3 months back. “We took the decision to move focus from prior responsibilities that we ventured into like building green buildings. We still continue to provide consulting in that.”

The division will be broadly divided into three segments namely, managed energy services, renewable products, MW solar. The company had already had two major wins for providing managed energy.

Kurien elaborated that the idea is to make the enterprises more energy efficient. An example would be putting up censors in energy consumptions.

“Our role would be capturing energy data and bringing energy analytics around it. We do diagnostics of the data sitting remotely,” he said, adding, “We are coming up with a set of products which are going to be renewable energy products. In between, again, we would have energy analytics as the core to it.”

Kurien shared that the products would be a mixed model where it would get into partnership for hardware. Wipro’s contribution would include the algorithms behind, as Intelligence is the most important part.

He said, “My investments would be in intelligence, my partnerships would be in the hardware. We are also seriously looking at Mega Watt player. We would buy PV, inverters, set partnerships for panels, including manufacturing of these products.”