India’s solar market is experiencing robust growth, driven by government tenders and private sector investments. The national target of achieving 500 GW of non-fossil fuel capacity by 2030, including 300 GW of solar, is creating significant opportunities across utility-scale, C&I, and residential segments. According to the latest reports, over 85 GW of solar projects are at various stages of implementation, with approximately 48 GW under tendering. This has led to a year-on-year increase in demand for solar modules.

Currently, India’s solar module manufacturing capacity has surpassed 67 GW per annum and is expected to reach 100 GW in the next 1–2 years—exceeding domestic demand for modules. With the announcement of ALCM (mandatory use of domestically produced cells in domestically manufactured solar modules) from mid-2026, there is growing momentum in new cell manufacturing plants across the country. This development is also driving investments in solar module components such as solar glass, frames, junction boxes, and encapsulants, generating employment and further boosting the manufacturing ecosystem.

Jakson Solar is well-positioned to capitalize on these opportunities by expanding its manufacturing capacities and strengthening its project execution strategies.

2. Kindly enlighten us with your tech roadmap, manufacturing capacity road map

Jakson Solar is committed to technological advancements and capacity expansion. Currently, we operate fully automated production lines with an annual solar module manufacturing capacity of 1.2 GW. This module manufacturing capacity is set to further increase with the addition of 2.5 GW new greenfield facility by early 2026

We offer both Glass-Glass (TOPCon technology) and Glass-Backsheet (PERC technology) modules, with module rating range from 400 Wp to 600 Wp. In the TOPCon range, we have also introduced 615/620 Wp modules using rectangular cells to meet customer demand for utility scale projects in FY 2025-26.

Additionally, we are also setting up another Green Field project for 3 GW solar cell manufacturing capacity, which is expected to be operational by mid 2026. With these expansions, we will have overall 6GW+ capacity of module and cell manufacturing capacity by next year.

We are also investing in operational efficiency and inhouse product reliability testing by adopting the latest technologies and testing equipment in compliance with latest IEC/BIS standards. With a focus on vertical integration, we aim to expand into ingot and wafer production in the coming years.

Furthermore, we are strengthening our R&D efforts to develop next-generation solar solutions, automation, and AI-driven quality control. Through these initiatives, Jakson Solar aims to contribute to India’s vision of becoming a global solar manufacturing hub while catering to both domestic and international markets.

3. How much manufacturing capacity India has in terms of Solar Modules, Inverters, Cells etc and what’s your anticipation in capacity addition in coming year

India currently has over 67 GW of solar module manufacturing capacity and around 20 GW of solar cell manufacturing capacity, 50% of this cell capacity having commenced production recently. By 2026, module capacity is expected to exceed 100 GW, and cell capacity is likely to surpass 50 GW, driven by PLI incentives, increasing private sector investments, and strong government support for domestic manufacturing.

The country is also witnessing significant investment in upstream manufacturing, including wafer and polysilicon production, which will reduce import dependency and enhance self-reliance. Additionally, inverters and energy storage solutions are anticipated to grow exponentially to meet increasing domestic and export demands, particularly with the push towards grid stability and energy independence.

4. What kind of market do you anticipate in current and future year in terms of Utility / C&I / Residential Market Forecast?

In the short term, utility-scale solar will continue to dominate due to economies of scale, resulting in the lowest cost of power through state and central tenders. However, the C&I sector is experiencing rapid growth, driven by corporate sustainability goals and rising electricity costs. Jakson Group is actively involved in both utility-scale and rooftop solar projects, offering in-house design, EPC, and O&M services to provide customized solar solutions for customers.

Residential solar adoption is also growing rapidly, supported by government subsidies and targeted marketing initiatives. The government aims to install solar systems in 10 million homes across all states and regions. Jakson Solar is actively contributing by providing DCR-compliant solar modules for the PM SuryaGhar scheme through its network of authorized partners.

5. What’s your view on the various opportunities such as PM Kusum & PM SuryaGhar?

The PM-KUSUM scheme presents immense potential for decentralized solar adoption, particularly in the agricultural sector. Jakson Solar has been a key supplier of solar modules for KUSUM projects, ranging from agricultural solar pumps to grid-tied solar power plants of up to 2 MW. We have supplied over 100 MW of solar modules under this initiative, contributing significantly to rural electrification and agricultural sustainability.

The PM SuryaGhar initiative, which focuses on large-scale rooftop solar adoption, is a game-changer. Our residential solar solutions, combined with financing options and quality assurance, are well-positioned to capitalize on this opportunity, promoting energy independence among households.

6. What could be the major changes in market in terms of major policy and regulatory announcements like New Open Access Rules, etc?

Key regulatory developments, such as the new Open Access Rules, ISTS waivers, and stricter ALMM norms, will reshape the solar market. Open Access reforms will allow C&I consumers to procure renewable energy more easily, while ISTS charge waivers will reduce project costs and encourage large-scale installations.

Stronger ALMM norms will enhance the competitiveness of domestic manufacturers. Additionally, supportive net metering policies and streamlined rooftop solar approval processes will drive adoption in the residential and C&I segments.

7. Visible Changes in RE Industry w.r.t. Energy Storage, RTC, Hybrid RE Projects, Floating, etc.; and their likely impact.

With over 100 GW of installed solar capacity, daytime electricity generation is often surplus, sometimes leading to curtailments, while there are shortfalls during peak evening hours. Energy storage is emerging as a key solution to address this supply-demand mismatch, ensuring 24×7 power availability and grid stability.

The rise of Round-the-Clock (RTC) and hybrid renewable energy projects, integrating solar, wind, and battery storage, is expected to accelerate large-scale adoption, ensuring an uninterrupted supply of clean energy to industries and DISCOMs. Government initiatives and declining battery costs will further accelerate growth in the energy storage sector.

Floating solar is also gaining traction, particularly in states with limited land availability, such as Kerala and West Bengal. This technology offers high energy yields while conserving land resources. Jakson Group is actively engaged in hybrid renewable energy solutions and energy storage technologies, aligning with market trends to enhance grid reliability, support RTC power generation, and enable large-scale renewable integration.

8. What’s your expectations from the Government, Policy Makers and Regulators?

Consistency in policy implementation, faster clearance processes, and incentives for local manufacturing are crucial for the sector’s sustained growth. Strengthening the PLI scheme, expanding ALMM to cover export markets, and removing regulatory bottlenecks will help unlock the full potential of India’s solar industry.

Jakson Solar strongly advocates for a stable and transparent regulatory environment to foster innovation, attract investments, and position India as a global leader in solar manufacturing.

AKS: Regarding business volume done in the last financial year, we can confirm that we have been operating our factory 24×7 for the last 3years. Business volume will be 300MW plus.

EQ: What’s your target or anticipated business for this FY for India?

AKS: This year we are expecting to double our business volume.

EQ: What are your current product / technology / service offerings?

AKS: We are currently offering a mono-Perc Half Cut P-Type module and got few orders of N-Type Topcon as well.

EQ: What’s your view on the Emerging Green Hydrogen Sector and Possible impact on Scalability of Capacity Addition of RE Assets in India?

AKS: We are in process of getting certification of N-Type with size upto 650Wp and also launching Glass to Glass module.

EQ: What sort of pricing road map, demand – supply gap you anticipate for this FY?

AKS: We expect stable pricing for P-type as well as N-Type module for next 6months.

EQ: Tell us more about your own professional journey, key leaning, key message from yourself?

AKS: About me, I am BE-Mech with PGDBM & DSM degree having 32+years of experience. My Solar Experience is about 20years. Currently I am working with Novasys as President-Solar Business.

EQ: Please tell us more about your company, directors in detail.

AKS: Novasys Greenergy Pvt. Ltd. was founded in 2004 for various energy trading purposes. In 2016, we started our journey in the Renewable Sector as an EPC player & started manufacturing Solar Panels in 2019. Today, we are a 1.2GW company and very soon expanding to 3.5GW. Our Directors Mr. Sushil Bunsal who has got BTECH & MBA Degree & Mr. Ramesh Bansal is C.A. Both are from established business families with 50 plus years of family business background.

EQ: What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipeline etc…Opportunities in Manufacturing etc.

AKS: As we all know, India is set to achieve 450GW Solar Installation by 2030 and till now we have reached 90GW & we are yet to complete 360GW. Many govt. tenders are coming & Pvt. Solar Parks are being developed. We expect 50GW installations every year. Manufacturing sector of Solar components is growing by 100% every year.

EQ: Which regions or states looks most promising to you for 2024?

AKS: I believe Maharashtra & Gujarat are doing a great job in terms of Solar Installation. However, Tamilnadu & Kerala in the south are also doing good. Karnataka & Andhra are also sowing improvements in the requirements.

EQ: What’s your view on the Emerging Green Hydrogen Sector and Possible impact on Scalability of Capacity Addition of RE Assets in India?

AKS: Regarding Green Hydrogen, I am not much aware.

EQ: According to you, what is the impact of ALMM?

AKS: ALMM is good in order to boost domestic manufacturing sectors.

EQ: Tell us about the Impact of the PM – Rooftop Solar Scheme?

AKS: Due to PM-Rooftop scheme, DCR requirements have increased by 4 folds.

EQ: How much manufacturing capacity India has in terms of Solar Modules, Inverters, Cells etc and whats your anticipation in capacity addition in 2024?

AKS: Regarding growth in Solar Module manufacturing sector, currently the capacity is 50GW which is expected to be 100GW by 2025.

EQ: How does export market out of India looks like to yourself for 2024?

AKS: Export markets, mainly US and neighbouring countries are also growing @ 20-30% every year.

EQ: What could be the major changes in market in terms of major policy and regulatory announcements in 2023 like New Open Access Rules etc (Har Ghar Solar)?

AKS: Open Access and other policies for Solar are going to be the same, stable to boost the solar sector.

EQ: Whats the total installation in India for Zero Export Solar Plants, Open Access Plants and what is the market size in 2024?

AKS: We have reached 90GW+ by July 2024 & expect 20GW addition by the end of 2024.

EQ: What kind of Solar Tariff Trends do you see coming?

AKS: Solar Tariff is expected to be around Rs.3/- per unit.

EQ: Visible Changes in RE Industry w.r.t. Energy Storage, RTC, Hybrid RE Projects, Floating etc and their likely impact?

AKS: Storage, can’t say more.

EQ: What kind of growth do you see coming in the Residential Sector Demand?

AKS: Residential sector demand is expected to grow by 30% every year.

SM: Growatt is a global leading manufacturer of PV inverters and energy storage solutions. We cater to the Indian market with a versatile range of on-grid PV string inverters from 1kW to 350kW. As part of our ongoing expansion, we are introducing new products across residential, commercial & industrial, and utility segments, providing customers with a broader selection to meet their specific energy needs. In addition to on-grid solutions, we focus on solar-plusstorage systems, offering capacities from 600W to 1MW and storage from 2kWh to 2MWh. Our latest innovation, the micro-inverter NEO series, delivers robust performance in a compact design, with options from 0.6kW to 2kW—perfect for applications facing mismatch losses or space constraints. Recognizing the growing demand in the electric vehicle (EV) sector, we have also expanded into the EV market. Growatt now offers AC EV chargers with power ranges from 7kW to 22kW and DC EV fast chargers from 20kW to 200kW. At Growatt, we are dedicated to innovation and technology, offering a wide range of products that empower our customers in their transition to clean energy.

EQ: What are the product launch plans for this year?

SM: At Growatt, we are always striving to bring the latest innovations to our customers. Building on the overwhelming success of our residential X series inverters, we are excited to introduce the upgraded X2 Pro and X2 Pro E series. These new models are designed to meet the demands of the evolving solar industry, incorporating the latest advancements in panel technology. Available in a range from 1kW to 6kW in single phase and 3kW to 15kW in three phase.

Now supporting 18A and 20A, making these inverters compatible with almost all of the latest high-efficiency panels on the market. These enhancements ensure that our inverters remain at the forefront of residential solar technology, providing superior performance and broader compatibility for our customers. Another exciting product to be launched this year is MAX 320~350KTL3-X HV inverters for utility segment. It offers an impressive 99.03% maximum efficiency, making it an economically viable solution for large-scale projects. Ideal for large solar installations with a DC/AC ratio of 1.5. Features 6 independent MPPTs, supporting up to 5 strings per MPPT, with a wide voltage range of 500V to 1500V. Accepts up to 75A per MPPT, perfect for high-wattage PV panels.

EQ: Please tell us more about your company, directors in detail?

SM: Energy fuels our cultural and economic development, and in the long term, the future of humanity and civilization hinges on sustainable energy sources. Driven by a vision to create a green and sustainable future, a group of pioneers in the global photovoltaic (PV) industry, led by David Ding, founded Growatt in 2011. Team Growatt’s mission for enabling everyone benefit from sustainable energy drives our commitment to delivering high-quality products and services to customers worldwide. In just a decade, Growatt has rapidly emerged as a global leader in distributed energy solutions. Today, Growatt is the No.1 supplier of residential inverters in Asia and ranks among the top five suppliers of PV inverters globally. Our shared vision with global partners to build the world’s largest intelligent sustainable energy ecosystem for human kind.

EQ: What products are you displaying at REI this year?

SM: We are excited about the upcoming edition of REI, taking place at the India Expo Center in Greater Noida from October 3rd to 5th, 2024. This year, we will continue to showcase a wide array of PV inverters and storage solutions designed to help homeowners and businesses meet their sustainability targets, including the following key offerings:

Starting with our residential products, we will be featuring the NEO 2000M-X micro-inverter, which allows users to optimize power at the module level. Our X2 Pro and X2 Pro E models from the MIC, MIN, and MOD ranges will be displayed as well. These inverters, with a high current capacity of 18A/20A, are compatible with almost all panels currently available in the industry. For commercial and industrial (C&I) installers and customers, we will present our MID 30-50KTL3-X2 and MAX 150KTL3-X LV inverters. As the first to introduce a 150kW inverter in the low-voltage segment, these units feature multiple MPPTs, a higher DC/AC ratio, and compatibility with higher wattage panels, all contributing to reduced LCOE. Additionally, they come equipped with all essential protection features, including type II SPD on both AC and DC sides. Smart features such as remote monitoring and control, IV curve scanning, one-click diagnosis, and remote firmware upgrades are also integrated.

For the first time at REI, we will unveil our new MAX 350KTL3-X utility-scale inverter. Given the recent developments and growth in utility-scale project tenders, this 350kW inverter is expected to attract significant interest. With a maximum efficiency of 99.03%, it ensures optimal DC-to-AC power conversion, maximizing energy output. In addition to these, we will also exhibit EV chargers, battery storage systems, and portable power stations during the event.

EQ: What kind of market do you anticipate in 2024 in terms of Utility/ C&I / Residential?

SM: In 2024, we’re expecting significant growth across all areas of India’s solar market—utility, commercial & industrial (C&I), and residential—driven by the nation’s strong commitment to renewable energy.

On the utility side, we’re anticipating major expansion.

The government’s push for large-scale renewable energy projects, supported by favorable policies and tenders, will drive demand for high-efficiency solar solutions. Developers will be focused on getting the most energy out of their systems while keeping costs low, positioning utility-scale solar as a crucial part of India’s energy future. In the C&I sector, we foresee substantial growth as more businesses look for ways to cut energy costs and improve their sustainability efforts. Solar energy is no longer just an environmental choice; it’s a smart long-term investment. Companies are increasingly turning to solar to reduce operating expenses while enhancing their green credentials. As a result, we expect to see rising demand for advanced solar systems that can adapt to the unique needs of businesses, offering both flexibility and efficiency.

On the residential front, solar adoption is set to accelerate as homeowners become more aware of the benefits of rooftop solar installations. With rising electricity tariffs and a growing interest in energy

independence, more households are expected to turn to solar as a way to cut costs and contribute to a greener future. An important factor in this growth will be the impact of the PM Surya Ghar Yojana, a government initiative aimed at making solar energy more accessible to residential users. It empowers households to generate their own electricity, reduce dependency on the grid, and lower their electricity bills, all while contributing to India’s broader sustainability goals.

Overall, 2024 looks promising for the Indian solar market, with all three segments—utility, C&I, and residential— playing a vital role in the country’s renewable energy journey.

EQ: Expectation from government, policy makers and regulators?

SM: We look forward to continued proactive support from the government, policymakers, and regulators to advance solar energy in India. This support could include offering more financial incentives, simplifying regulations, and ensuring that policies are clear and consistent. Improved grid infrastructure and faster approval processes for solar projects will also be crucial. Ultimately, we expect a continued commitment to ambitious renewable energy targets, which will keep India on track toward a greener, more sustainable future.

BG: Impulse Green Energy Pvt. Ltd. (IGEPL) is proud to be the authorized Distributor of Sineng Electric in India, distributing Sineng inverters across the country.since 2022. Sineng has emerged as a global leader in PV+ESS solutions, providing PV inverters, PCS, and power quality products. Listed on the Shenzhen Stock Exchange in April 2020, Sineng operates three major manufacturing bases located in Ningxia and Wuxi, China, and Bangalore, India. These bases contribute to an annual production capacity of 50 GW, ensuring that Sineng meets the increasing demands of the renewable energy sector.

Through the establishment of four R&D centres and the strategic use of high-quality resources, Sineng is committed to making sustainable, cost-effective, and reliable energy accessible to more people. The company’s efforts have earned it recognition as a Bloomberg NEF Tier 1 PV inverter maker, and it has consistently ranked among the global Top 10 PV inverter suppliers for 10 consecutive years.

Sineng’s product range benefits from the research and development expertise of Emerson Network Power, offering string inverters, central inverters, MV turnkey stations, and energy storage systems. This partnership guarantees that Sineng products excel in efficiency, performance, and reliability. With a strong emphasis on quality, rigorous testing and quality control processes ensure that Sineng’s PV inverters meet the highest industry standards. Their focus on innovation, customer value, and environmental responsibility drives their commitment to advancing global sustainable development.

EQ: Can you elaborate on the product range of Sineng Electric?

BG: Among Sineng Electric’s flagship offerings are the SP350K-INH, SP275K-INH designed for Utility Scale projects and SN125PT,SP-120K-BL, SN 60PT, SN 50PT, SN 40PT , SN33PT and SN25PT-X string inverters designed for commercial applications.

The SP-350K-INH is ideal for the 1500 Vdc utility segment, with features like 12 MPPTs, a high input current of 45A per MPPT, and a DC/AC ratio of up to 1.8.

Additionally, Sineng’s 275 kW string inverter, also for the 1500 Vdc segment, supports utility-scale solar projects. It offers 12 MPPTs and a high input current of 40A per MPPT. Its smart forced air-cooling design ensures low-temperature rise and extends its lifespan. Furthermore, the inverter’s IP66 and C5 anticorrosion protection enable it to perform reliably even in challenging environments.

These inverters also support active and reactive power control, featuring the ‘Q at Night’ function for grid support, and LVRT and HVRT capabilities for grid stability. Additional features like PID recovery maintain system efficiency, while the IP66 and C5 anti-corrosion protection ensure durability. These inverters are compatible with bifacial modules and are certified for the EU market.

The SN125PT string inverter, designed for the 1100 Vdc commercial and industrial segment, includes 5 MPPTs and advanced features such as night-time PID recovery and a built-in arc-fault circuit interrupter for improved safety. Its smart I/V curve diagnosis offers real-time PV system monitoring. The SN125PT adheres to VDE 4105/4110 standards and includes a built-in arc-fault circuit interrupter, significantly enhancing system safety by preventing electrical fires. All of Sineng’s string inverters come with optional smart I/V curve diagnosis technology for precise performance analysis and troubleshooting. Additionally, the SAU-1000-A logger facilitates remote updates and configuration of the string inverters, streamlining system management. These product developments reflect Sineng’s dedication to delivering superior energy solutions.

EQ: Can you please elaborate how Sineng is maintaining quality and reliability of its products?

BG: Sineng Electric ensures the reliability and efficiency of its products through a comprehensive strategy that includes rigorous testing, certification, and the use of highquality components. Continuous field testing guarantees the robustness of Sineng’s products across various operating conditions.

In Wuxi and Shenzhen, China, Sineng’s laboratories perform continuous product testing, including stress testing under extreme conditions. Collaborations with esteemed thirdparty organizations such as DNV GL, TÜV SÜD, and TÜV Rheinland provide independent validation of the reliability and efficiency of Sineng’s products.

Sineng’s dedication to excellence is further affirmed by its adherence to international standards, as evidenced by relevant IEC and ISO certifications. By sourcing components from renowned suppliers like Infineon and Onsemi for IGBTs, Texas Instruments for boards, Siemens and ABB for RMUs, and Huapeng for transformers, Sineng ensures the high quality and durability of its products.

EQ: Can you please showcase some major projects of Sineng Electric and their success in India?

BG: Sineng Electric has started manufacturing in India in 2018 and since then has supplied to all major project developers and EPC’s in India with total shipment of around 13GW till the beginning of this year . A notable project showcasing Sineng’s capabilities is the supply of 2,887 units of 275 kW string inverters for a 641 MW solar power project at the 30 GW Khavda Solar Park in Gujarat. Developed and owned by Adani Solar, this solar project is set to power 16.1 million Indian homes and stands as the world’s largest renewable energy installation.

The 641 MW solar project is expected to generate approximately 1,900,000 MWh of clean energy annually, helping to offset CO2 emissions by an estimated 913,428 tons each year, which is equivalent to planting 4,567,124 trees.

These successes underline Sineng’s impact on the solar energy sector and demonstrate its unwavering commitment to innovation, quality, and customer satisfaction, as distributed by Impulse Green Energy Pvt. Ltd. across India.

EQ: Which are the major places and projects in India where Impulse Green Energy has supplied Sineng inverters?

BG: Impulse Green Energy is authorized Distributor of Sineng Electric in India. We have supplied all major range of Sineng Electric ‘String Inverters’ starting from 25KW,33KW, 40KW, 50KW, 60KW, 120KW, 125KW, 275KW and 350KW to several projects in India. Below are the major states where we have supplied the Inverters; For Commercial & Industrial Projects in Tamil Nadu ,Maharashtra, Karnataka, Andhra Pradesh, Telangana, Madhya Pradesh, Gujarat , Rajasthan, Punjab, Haryana ,Uttar Pradesh and New Delhi

For Utility Scale Projects in Kerala, Chhatisgarh, Tamil Nadu, Andhra Pradesh, Maharashtra, Rajasthan, Haryana, Uttar Pradesh, West Bengal and Odisha. A very notable project where we have supplied Sineng String Inverter is the “Floating Solar Project” in Kerala.

The REI Expo aligns with national and international renewable energy goals, supporting government initiatives aimed at increasing the share of renewables in the energy mix and achieving sustainability targets. The Expo brings together stakeholders from across the value chain, the expo creates opportunities for business growth, investment, and expansion in the renewable energy sector.

The 17th edition of Renewable Energy India Expo is all set to celebrate India’s Renewable Energy Achievements & the progress made by the industry. Best of the brands exhibiting their latest innovations & technologies in the Renewable energy space. More than 800+ suppliers are showcasing their products starting from Equipment’s, EPC Solutions, Solar Panels, Components, Inverters, Mounting Structures, Robotics, IOT Solutions & more. Key attractions are BIO Energy Pavilion, German Pavilion, Investor Zone for start up’s and few more. Around 50,000+ Business Buyers are expected to attend the event in 3 days’ time (3rd to 5th October 2024, IEML, Greater Noida).

What New this year! India Shining Independently with the support of many domestic suppliers. India’s push for local solar manufacturing & Indigenous Solar production have become a reality for the country. REI Expo to showcase the cutting-edge technology built by India enterprises for global market demand.

Power packed conference to welcome 300+ leading speakers from India & Overseas, 500+ delegates expected to attend the conference and Network. The 2ndedition of The Battery show India is collocated with REI Expo with 250+ suppliers showcasing the battery materials, Chemistry & technology to address Energy storage & Mobility solution.

1. Which notable brands and industry leaders are participating in this year’s REI Expo, and what unique innovations are they bringing to the event?

India has rapidly increased its solar power capacity, becoming one of the world’s largest markets for solar energy. India has set ambitious goals to transition from fossil fuels to renewable sources, with a particular focus on solar, wind, and bioenergy.

In this context, Industry made impressive progress in setting up manufacturing facilities, Technology transfer, Business Partnership, creating skill sets and more. As a show organiser, we always believe REI Expo’s objective is to showcase Industry achievements on display. 2024 edition to witness cutting edge technology, New Products & Solutions from top brands like Reliance, Waaree Energies, Adani Solar, Vikram Solar, Premier Energies, Havells, Gautam Solar, Goldi Solar, Grew Energy, DNV, Swelect, Emmvee to name a few.

Check out for entire list: https://www.renewableenergyindiaexpo.com/

2. What cutting-edge technologies and products will be showcased at REI Expo 2024, and how do they reflect the current trends and future directions of the industry?

REI Expo objective is to present the latest technological advancements to inspire and inform stakeholders, including businesses, government officials, and the investors. At the same time, India’s focus on energy security is commendable to ensure a stable, reliable, and sustainable energy supply for its growing economy.

Demand for high quality products is driving the Industrial Revolution & welcoming the latest technology to India. REI being the industry preferred platform for many years, we are expecting many product launches, cutting edge technologies, High quality inverters & Storage solutions at the event. Distributed solar is a key area to focus, Exhibitors have great solutions for the Residential and Commercial & Industrial segment.

The marketing team is making every possible effort to reach all the Residential and Commercial welfare associations, Industrial Associations & Chambers, Rural societies to take advantage of the government scheme and benefit the nation by adopting Solar as a Solution.

3. Sustainability is a crucial theme in today’s industry. How is REI Expo 2024 addressing this, and which participating brands are leading the way in sustainable practices?

Reducing the carbon footprint has become a critical necessity in today’s world due to Climate Change Mitigation, Public Health, Economic Stability and Future Generation. Informa India is playing a very important role in greening the nation by hosting Renewable Energy India Expo & The Battery Show India together. This combo is going to address the energy transition & Mobility Transition to a larger audience. As an exhibition organiser, we are very proud to host the event at IEML, Greater Noida, Powered by Solar Rooftop. Encourage attendees to use Metro Transportation, EV Vehicles are used for internal mobility for visitors, Reusable materials for stall building, Water dispensers to avoid water bottles, Contactless Registration to avoid papers and more.

In today’s world, we all understand that actions we take today will determine the quality of life for those who come after us. It’s a collective effort that requires action from individuals, businesses, and governments.

4. How is REI Expo 2024 supporting startups and new innovations in the industry, and can you highlight any new and exciting startups that will be present?

The sector is filled with many new entities, REI Expo for many years made all possible efforts to support Small & Medium Enterprises. Even in 2024, we have a start-up Pavilion, Fundraising activities for Start up, Strong success rate for beginners at the show. The forum is created to ensure, Small to large firms gain full benefits from the platform. The vendors of PM Surya Ghar Muft Bijli Yojana going to gain full benefits & Exposure about the products. Special education & Contest “Solar Installers Premier League” hosted during the show by our event partner to showcase the efficiency of installation & Best Practises followed by Industry leaders. This activity is going to empower New Entrepreneurs to understand the Process, Product & Performance of this sector.

5. In your view, what impact does REI Expo 2024 aim to have on the industry, and how do you envision it shaping the future of the sector?

Joining with the world “Our Mission is NO Emission” – Reducing our carbon footprint is necessary to ensure a liveable planet for future generations. India is doing a great job in this space of greening the nation. As an organization, Organiser, Citizen of this great nation, we are committed to support all the initiatives taken by the Government. REI Expo will make every possible effort to fast track our Net Zero Vision dream before the set target. Make an effort to be with us at REI Expo, “Together we Sustain”

Company Specific Questions

1. How much business have you done last Financial year in India?

During the fiscal year 2023-2024, GSE Renewables (GSER) achieved a noteworthy turnover of INR 72 Crores (Unaudited), marking an impressive 360% growth compared to the preceding fiscal year. Specifically, in FY22-23, GSER reported a turnover of INR 20 Crores. This upward trajectory underscores the company’s strategic advancements and its ability to adapt to market dynamics, positioning it for sustained success and growth.

2. What’s your target or anticipated business for this FY for India?

With our upcoming Open Access Parks along with our existing Rooftop portfolio, we are expecting to cross 80Crores in our turnover. Our target for the current fiscal year in India revolves around the strategic expansion of our business operations. GSER is shifting gears to broaden our offerings from On-site Solar to Off-site (Open Access) Solar, aligning with favourable regulatory conditions and market opportunities. This shift represents a proactive approach to fueling the growth of our business. Our primary focus this year is to consolidate our presence in the Off-site Solar segment and capitalize on the increasing demand within the Renewable Sector. To support this expansion, we are planning to strengthen our team, ensuring we have the necessary expertise and manpower to effectively meet the rising demand and deliver value to our clients.

3. What are your current product / technology / service offerings?

At GSER, our offerings span a wide spectrum of services within the renewable energy sector, tailored to drive the development, construction, and operation of sustainable energy projects. Our core services include:

i. Investment Banking and Management: We provide strategic financial guidance and management services to support the investment and financing needs of renewable energy projects.
ii. Project Development and Execution: GSE specializes in all aspects of project development, from initial site selection and feasibility studies to the turnkey construction of renewable energy installations.
iii. Asset Management and Advisory: We offer comprehensive asset management services aimed at optimizing the financial and operational performance of solar assets, including monitoring, reporting, optimization, and compliance management.

Our focus is on delivering efficient and innovative solutions, utilizing advanced technologies like drones and robotics for project maintenance and optimization.

4. What are the product launch plans for this year?

I would say that our current focus at GSE Renewables is directed towards Offsite (Open Access) Solar Projects, leveraging the favorable policies by DISCOM. We’re excited about our upcoming Solar farm dedicated to C&I customers, offering sustainability solutions with minimal investment requirements. Moreover, GSER has strategic plans to further expand our business operations.

5. What sort of pricing road map, demand – supply gap you anticipate for this FY?

In terms of pricing roadmap and demand-supply dynamics for this fiscal year, the renewable energy market presents a promising outlook. Globally, the market size has been growing significantly, with India ranking 4th in this sector. Projections indicate substantial growth, with the market expected to reach USD 3114.73 Billion by 2030, driven by a compound annual growth rate of 16.8% from 2023 to 2030.

In India, approximately 42% of total electricity consumption has transitioned to renewable energy sources, a trend that has been steadily increasing. The government’s focus on sustainability further reinforces this shift, with favorable policies from DISCOM encouraging the development of renewable energy infrastructure.Moreover, there’s a notable trend among businesses towards embracing sustainability, which aligns with the increasing demand for solar energy. Recognizing this trend early on, GSER has been proactive in accommodating the surge in demand for solar energy, recognizing its reliability as a renewable energy source.

6. Tell us more about your own professional journey, key learnings, key message from yourself.

Our journey started with a deep passion for renewable energy and a vision to contribute to India’s energy transition towards sustainability. We recognized the immense potential of solar energy in India and set out to harness it to drive positive change.Building a startup in the solar sector comes with its fair share of challenges, from regulatory hurdles to market fluctuations. We learned to be resilient in the face of adversity and to adapt quickly to changing circumstances. Flexibility and the ability to pivot when necessary have been crucial to our success.We place a strong emphasis on understanding and meeting the needs of our customers. By listening to their feedback and building strong relationships, we have been able to deliver value-added solutions that exceed expectations. Customer satisfaction is our top priority, and it drives everything we do. Lastly, Our success would not have been possible without the dedication and expertise of our team. We have assembled a talented and diverse team of professionals who share a passion for our mission. Investing in our team’s growth and development has been instrumental in achieving our goals.

7. Please tell us more about your company, directors in detail.

Our company is led by two directors, Sahil Kejriwal and Ajay Kejriwal. Sahil Kejriwal brings a wealth of expertise to the table with a B.Sc in Mechanical Engineering and Business Administration from Carnegie Mellon University, USA. He has further enriched his knowledge through executive education programs at renowned institutions such as Wharton, IIM, Flame, and ISB. With over 17 years of experience as a Consultant with McKinsey & Co. USA.

8. What Products are you displaying at REI this year?

– NA as we are service based company.

Market Specific Questions

1. What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipeline etc…Opportunities in Manufacturing etc…?

Currently, India presents significant opportunities in the renewable energy sector across various fronts. In terms of projects, there is a substantial pipeline of tenders and projects in the renewable energy space, particularly in solar and wind energy. The government’s ambitious renewable energy targets and supportive policies, such as competitive bidding mechanisms and incentives, have spurred investment in renewable energy projects across the country. Additionally, there are opportunities in manufacturing, with initiatives like the Production Linked Incentive (PLI) scheme aimed at boosting domestic manufacturing of solar modules, cells, and other components. This presents an opportunity for India to enhance its self-reliance in renewable energy technology while creating jobs and driving economic growth. Overall, India’s renewable energy sector offers a promising landscape for project development, manufacturing, and investment, positioning the country as a key player in the global transition towards clean energy.

2. What kind of market do you anticipate in 2024 in terms of Utility / C&I / Residential?

As of 2024, the Indian solar market is anticipated to see significant growth across utility-scale, commercial and industrial (C&I), and residential sectors. With increasing emphasis on renewable energy and sustainability, utility-scale solar projects are expected to continue expanding, driven by supportive government policies and declining solar module costs. The C&I sector is likely to witness rising adoption of solar power as businesses seek to reduce energy costs and meet sustainability targets majorly their ESG goals. Rooftop solar installations, both in commercial and residential sectors, are expected to gain momentum, aided by favorable net metering policies and improving technology. Overall, solar energy is poised to play a pivotal role in India’s energy landscape, providing clean and sustainable power solutions to meet the growing energy demands of the nation.

3. Which regions or states looks most promising to you for 2024?

For 2024, when considering solar energy prospects, Maharashtra emerges as the most promising region. This is attributed to several factors, including high tariff rates and favorable policies supporting both Onsite and Offsite solar projects. Particularly noteworthy are the recent policy developments such as the Green Energy Open Access Policy, 2022, and the MERC Open Access (Second Amendment), 2023. These policies have made it feasible for companies, even smaller firms, to opt for Open Access Solar with a minimum requirement of just 100 kWp. This accessibility is opening new avenues for smaller businesses aiming to adopt renewable energy practices and go green.

4. What’s your view on the Emerging Green Hydrogen Sector and Possible impact on Scalability of Capacity Addition of RE Assets in India?

As a CEO of a leading solar company in India, I see the emerging green hydrogen sector as a promising opportunity to enhance the scalability of capacity addition of renewable energy assets in the country. Green hydrogen like solar and wind power, offers a sustainable solution to store excess energy and address intermittency challenges. By integrating green hydrogen production with existing renewable energy infrastructure, such as solar and wind farms, we can optimize resource utilization and unlock new revenue streams. The adoption of green hydrogen has the potential to drive further investment in renewable energy capacity expansion, while also contributing to grid stability, decarbonization efforts, and economic growth in India.

5. How much manufacturing capacity India has in terms of Solar Modules, Inverters, Cells etc. and what’s your anticipation in capacity addition in 2024?

In terms of solar manufacturing capacity, India has made significant progress, boasting an annual installed high-end solar module manufacturing capacity of 60 GW.

India’s manufacturing capabilities have evolved rapidly, transitioning from less than 10 GW of low-wattage polysilicon modules in the financial year 2020-21 to the current 60 GW capacity, featuring high-wattage and technologically advanced Mono Perc, Topcon, and HJT modules.

As the demand for Indian modules, especially those listed under ALMM (Approved List of Module Manufacturers), continues to surge, new companies are entering the market. This influx of new players suggests a promising trajectory for manufacturing capacity growth in the upcoming year.

6. How does export market out of India looks like to yourself for 2024?

I anticipate a robust export market for solar products out of India in 2024. With the country’s growing manufacturing capacity and expertise in solar technology, coupled with favorable government policies promoting renewable energy, India is poised to become a significant exporter of solar modules, inverters, cells, and related components. By facilitating a conducive policy environment, including export incentives, trade agreements, and streamlined regulations, we can further stimulate the growth of India’s solar export market. Additionally, fostering collaborations with international partners and promoting Indian solar products through trade missions and exhibitions will enhance market penetration and competitiveness. Leveraging India’s strengths in solar manufacturing and project development, we aim to position the country as a leading exporter of solar solutions, contributing to economic growth, job creation, and global efforts towards sustainability.

7. What could be the major changes in market in terms of major policy and regulatory announcements in 2024 like New Open Access Rules etc.?

Major changes in the Indian Solar Policy shall be the ceasing of extension of ALMM rule and lowering the threshold of open access eligibility for consumers. Further Maharashtra is expected to release their circular for increasing the rooftop net metering limited to 5MW.
Also, GOI may raise the renewable purchase obligation (RPO) targets to further boost companies to go green

8. What’s the total installation in India for Zero Export Solar Plants, Open Access Plants and what is the market size in 2024?

– The cumulative installed solar capacity in the open access segment stood at 3.2 GW in 2023, making it the highest open-access solar capacity addition in a calendar year. Expectations are this size will experience a two-fold increase in the upcoming financial year.
– The extension of the Approved List of Models and Manufacturers (ALMM) order until March 2024 and falling module prices drove commercial and industrial (C&I) consumers to commission pending projects and sign new PPAs. Factors such as declining system costs, favorable policies and the green energy open access Rules in several states fueled solar installations through the open access market in 2023
– The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its approval to introduce the Production-Linked Incentive (PLI) Scheme in High Efficiency Solar PV Modules for Enhancing India’s Manufacturing Capabilities and Enhancing Exports boosting the manufacturing and developing capabilities

9. What kind of Solar Tariff Trends do you see coming?

The solar tariff trends are expected to continue their downward trajectory, driven by several factors. Firstly, advancements in technology and economies of scale are leading to lower manufacturing costs for solar panels and related equipment. Additionally, increased competition in the solar industry is driving companies to offer more competitive pricing to secure contracts.

Furthermore, supportive government policies and incentives, such as tax credits and subsidies for renewable energy projects, are further incentivizing investment in solar energy, potentially leading to more competitive tariff rates.
Overall, the trend suggests that solar tariff rates are likely to become more competitive and affordable, making solar energy increasingly attractive as a viable alternative to traditional energy sources.

10. Visible Changes in RE Industry w.r.t. Energy Storage, RTC, Hybrid RE Projects, Floating etc. and their likely impact.

I recognize the visible changes in the renewable energy (RE) industry, particularly in areas such as energy storage, real-time control (RTC), hybrid RE projects, and floating solar. These advancements, as highlighted by Mercom India, signify a transformative shift towards enhancing the reliability, efficiency, and versatility of renewable energy integration. Energy storage technologies offer the potential to mitigate intermittency issues, improve grid stability, and enable round-the-clock power supply. RTC solutions facilitate better grid management and optimization, ensuring seamless integration of variable renewable resources. Hybrid RE projects, combining multiple energy sources, maximize resource utilization and enhance project economics, while floating solar presents innovative opportunities for utilizing water bodies for solar power generation. Embracing these trends and technologies can unlock new avenues for growth and innovation in the solar sector, driving India’s transition towards a sustainable energy future.

11. What kind of growth do you see coming in the Residential Sector Demand?

DISCOMS have maintained their pattern of increasing their tariff every year. Along with introduction of National portal for rooftop solar by MNRE and subsidies from the government for this purpose, the demand in the residential sector is not much behind industrial and commercial sectors. With proper awareness of importance of use of renewable energy and monetary savings through use of rooftop solar system after considering our immense population, Indian residential market for Solar is experiencing an exponential curve towards self sufficiency in electricity.

12. What’s your expectations from the Government, Policy Makers and Regulators?

Our Expectation as a significant player in the rooftop C&I market from our respected Policymakers is of streamlined approval processes, transparent regulations, and consistent policies that promote investment and ensure a level playing field for all market participants. Additionally, initiatives to enhance grid infrastructure, promote domestic manufacturing, and provide incentives for renewable energy adoption will be instrumental in driving the continued expansion of the solar sector. Collaboration between industry stakeholders and policymakers is crucial to address emerging challenges and capitalize on opportunities for sustainable development.

13. What’s your expectations from the Industry Stakeholders?

I expect industry stakeholders to collaborate closely to drive innovation, efficiency, and sustainability in the solar sector. This collaboration should include sharing best practices, fostering partnerships for research and development, and advocating for policies that support the growth of renewable energy. Furthermore, I anticipate industry stakeholders to prioritize transparency, integrity, and ethical business practices to build trust and credibility within the sector. By working together towards common goals, we can accelerate the transition to a clean energy future and maximize the positive impact of solar energy on India’s economy and environment.

India with diverse geographical regions, long coastline, biodiversity, and high dependence on natural resources is one of the most vulnerable countries to climate change risks worldwide. Further, more than half of India’s population lives in rural areas and depends on agriculture & allied activities, which are highly sensitive to climate change, threatening the livelihoods of people dependent on them.

There is emerging evidence that the productivity of crops, livestock and fish is likely to be affected with implications to food security, livelihoods and sustainability in agriculture. The occurrence of frequent extreme weather events across different parts of the country has resulted in significant losses in crop yield and income for farmers at a micro level, besides negatively impacting the nation’s economy at a macroeconomic level.

The impacts of these climate change threats vary across regions and communities based on factors such as geographical location, socioeconomic status, access to resources, and adaptive capacity. Vulnerable groups, including smallholder farmers, landless labourers, and marginalized communities, often bear the brunt of these impacts, facing challenges in adapting to changing climatic conditions and maintaining their livelihoods.

As per IPCC AR6, climate change has caused widespread adverse impacts and related losses and damages to nature and people that are unequally distributed across systems, regions and sectors and also economic damages from climate change are widespread in climate-exposed sectors, such as agriculture, forestry, fishery, energy, and tourism.

2. Beyond traditional methods, what innovative strategies is NABARD promoting to enhance the climate resilience of agricultural practices and rural infrastructure in India?

NABARD supports the adoption of climate-resilient crop varieties and diversified cropping systems that are better adapted to changing climatic conditions. This includes promoting drought-tolerant crops, salt-tolerant varieties, and crop diversification to minimize risks associated with climate variability.

NABARD has recently launched a new initiative called JIVA, which pioneers agroecology as a strategic and transformational approach to ensure sustainability of watershed and wadi projects at scale. With principles of natural farming at its core, JIVA aims to diversify crop systems, integrate livestock and trees, rejuvenate biological processes, manage pests using natural methods, extend crop cover for a longer period, and efficiently manage soil moisture and rainfall, thereby ensure adaptation and mitigation as co-benefits.

NABARD is collaborating with UNDP to co-create data driven innovations in agriculture and food systems to support small holder farmers. NABARD is currently hosting a digital public good platform, Data in Climate Resilient Agriculture (DiCRA), to provide access to quality data on Climate Resilient Agriculture (CRA), and assist in data-driven decision making across the agriculture ecosystem in India and optimize investments.

3. How is NABARD supporting rural financial institutions and farmers in accessing financing for climate-resilient technologies and adaptation measures?

NABARD has been at the forefront, leveraging concessional finance and grants to encourage farmers to embrace sustainable techniques. These include promoting climate resilient agriculture practices, water-efficient irrigation systems, renewable energy adoption, and precision farming methods, aligning with the larger goal of reducing carbon footprints while enhancing productivity.

NABARD plays a pivotal role as the National Implementing Entity and Direct Access Entity for major climate funds such as the Green Climate Fund, Adaptation Fund, and National Adaptation Fund for Climate Change. This position allows NABARD to access and deploy climate finance effectively, driving impactful initiatives that address the pressing challenges of climate change in the ANR sector.

NABARD has created its own dedicated Climate Change Fund (CCF) to support awareness-building on Climate Change issues among various stakeholders and to promote and demonstrate innovative Climate Change adaptation/mitigation interventions and climate-resilient livelihoods.

4. How does NABARD ensure that its climate action initiatives in the ANR sector promote not only resilience but also sustainable resource management and equitable benefits for marginalized communities?

The whole spectrum of NABARD’s functions and initiatives, unique across the world, focuses on the attainment of sustainable development and mitigating and adapting to climate change. NABARD’s initiatives in the Agriculture, Natural Resources, and Rural Development (ANR) sector have integral components of climate action for vulnerable sectors and communities. Prominent among these are: Watershed Development, Tribal Development, Infrastructure development under RIDF, NIDA, etc. besides its climate change projects.

NABARD recognizes that climate resilience cannot be isolated from sustainable resource management. Its initiatives consider ecosystem health, soil conservation, and biodiversity. By promoting sustainable practices, NABARD ensures long-term benefits for both people and the environment.

NABARD conducts regular monitoring and evaluation of its climate action initiatives to assess their impact on resilience, sustainable resource management, and equitable benefits for marginalized communities. This includes tracking key performance indicators related to livelihood improvement, natural resource conservation, and social equity.

5. What mechanisms are in place to monitor and evaluate the effectiveness of NABARD’s climate action initiatives in the ANR sector? How are lessons learned being used to refine and improve future interventions?

The project assessment environment has seen big changes all over the world and there is a renewed focus on ensuring that each project is evaluated and monitored on a real time basis and that there is a definite body of data to substantiate the impact. Recently NABARD has developed an “Outcome-Based Monitoring and Evaluation Framework” for capturing, evaluating and presenting the outcome datasets of all our developmental initiatives.

Traditionally, within NABARD, monitoring and evaluation efforts have focused on processes, inputs, activities, and outputs. Through this framework, we are extending the scope by incorporating outcome-based assessments. By linking the Monitoring and Evaluation (M&E) framework with the Outcome Framework indicators, we will be able to assess not only the activities and outputs but also a holistic impact and outcome of its development initiatives.

NABARD defines clear metrics to measure climate resilience. These metrics assess outcomes related to livelihoods, natural resource management, and adaptation. Regular tracking ensures alignment with climate goals.

NABARD’s commitment to monitoring, evaluation, and learning ensures that climate action initiatives in the ANR sector are effective, sustainable, and responsive to community needs. Lessons from past experiences guide future interventions, fostering resilience and equitable benefits.

6. How is NABARD fostering collaboration with various stakeholders, including government agencies, private sector entities, civil society organizations, and local communities, to ensure a comprehensive and inclusive approach to climate action in the ANR sector?

NABARD facilitates multi-stakeholder partnerships involving government agencies, private sector entities, civil society organizations (CSOs), research institutions, and local communities to address climate change challenges in the ANR sector. These partnerships leverage diverse expertise, resources, and networks to develop holistic solutions and promote collective action.

NABARD promotes participatory planning and decision-making processes that involve stakeholders in setting priorities, identifying solutions, and allocating resources for climate action, especially in our developmental initiatives like watershed and tribal development projects.

NABARD promotes community engagement and empowerment by involving local communities, farmers, and indigenous groups in the design, implementation, and monitoring of climate action projects. This participatory approach ensures that interventions are contextually appropriate, socially inclusive, and responsive to local needs and priorities.

7. How is NABARD contributing to knowledge sharing and capacity building on climate-resilient practices and policies within India and potentially beyond its borders?

By acknowledging the importance of knowledge and skill-building, NABARD has initiated extensive capacity-building programs, creating awareness amongst farmers in climate-resilient practices. These workshops, demonstrations, and collaborations with experts aim to empower farmers with the necessary tools and knowledge to combat climate challenges effectively, highlighting the importance of green literacy programmes.

NABARD has also established a Centre for Climate Change at BIRD, Lucknow, Uttar Pradesh, which is involved in knowledge sharing, training, capacity building of stakeholders, policy advocacy, etc.

NABARD partners with multilateral agencies such as UNDP, the World Bank, ADB, GCF, FAO, GIZ, etc. to leverage resources and expertise for scaling up climate-resilient initiatives. These partnerships facilitate knowledge exchange, technical assistance, and financial support for implementing climate projects and programs both within India and in other countries.

Key objectives and focus areas for the 8th edition of RenewX which is scheduled on 26th& 27th April 2024 at Hitex, Hyderabad is to showcase the latest advancements and innovations in renewable energy technologies& Energy Storage. And also to provide a platform for industry experts, researchers, policymakers, stakeholders to share insights, research findings, and best practices.

RenewXExpo is created to drive the buyers to sourcing premium products for their projects & other implementations.More than 150+ top brands showcasing their product solutions to foster the industry growth & address the market demand.

2. Can you share your approach to cultivating and managing partnerships for RenewX?

Nurturing and developing relationships between the industriesis always the key intention of the organizer&RenewX Expo. Informa Markets being the largest exhibition organiser in various Industries like Pharma, Jewellery, Cold Storage, Construction &more. Efforts are on via RenewX to solarize these enterprises with the support of the exhibitors.

Government mission is also to enhance the distributed solar solutions benefitsto Industries, Corporates, Communities and Residential. RenewX Expo attracts visitors / Buyers from power consumers to have partnership with solar experts to reduce energy cost, learn more about Energy Independence.

Special promotionsare done to welcome Residential Welfare Association, High Network Individuals, to take full advantage of PM-Surya Ghar Muft Bijli Yojana.

3. How has RenewX contributed to the growth of the Indian Renewable Energy Market?

Starting 2015, RenewX focus is to foster partnerships and collaboration among international stakeholders, Enterprises, and organizations working in the renewable energy field. Enhance the product availability in South India to increase capacity building in solar space. RenewXExpo is one the biggest partnership building initiative between manufacturers, Buyers& Traders.Contribution wise, RenewX Expo supported the manufactures to identify business partners in southern region, Created Energy Independence to various power consumers, Mitigate Climate change& reduce air pollution, Job Creations in this ecosystem, Grid Stability & Resilience in power sector, Sustainable development within communities and many more…..

4. In its 8th edition, what specific goals does RenewX aim to achieve for the South Indian Renewable Energy and Electric Vehicle MarketSolar Market?

India’s PM vision on the solar space reflects a commitment to harnessing the immense potential of solar energy to drive economic growth, energy security, and environmental sustainability.

RenewX Expo 2024 goals isto align with the government vision and campaign PM Surya Ghar Muft Bijli Yojana, which aims to solarize 10 million households and more.We strongly believe, C&I customers can play a very vital role in generating electricity locally and take full advantage of cost benefits. The show marketing team are making all possible efforts to welcome C&I customers to the event, so that exhibitors can highlight all the latest products / solutions / financial options available in the market.

Driving Entrepreneurship:In remote or rural areas where grid infrastructure may be limited or unreliable, distributed solar solutions offer a cost-effective means of providing electricity access.Are you ready to become a Business Owner? Don’t Miss RenewX Expo!

5. How has RenewX evolved over the past seven years, and what milestones has it achieved in promoting sustainable economic development in the region?

Resilience and reliability are crucial aspects of any energy system, RenewXhas been able to create the complete value chain and benefit the industrywith this exhibition. Knowledge sharing and learning about latest developments, supported the industry and technical experts. More than 4500 Business visitors attend this exhibitionto gain business growth. As mentioned above, event objectives are to provide best technologies, Increase solar adoption, Create employment, Develop Business Owners, Focus on highlighting environmental benefits for the communities and Support government schemes.

6. Can you share more insights into the top buyers from industry, exhibitors, and the overall business space covered in the 2024 edition of RenewX?

From the exhibition perceptive, 2024 edition will be witnessing the galaxy of all the best brands under one roof. Brands like Waaree Energies, Vikram Solar, Goldi Solar, Rayzon Solar, SMA Solar, EVVO Solar, Emmvee Solar, Luminous, Microtek, Deye Inverters, Exide to name a few are showcasing the latest solution in energy space.

In terms of Buyers, we are expecting Project developers, IPP’s, System Integrators, Dealer & Distributors, C&I, Residential welfare associations, High Network individuals, Investors and more…

2-dayConference offer opportunities for professionals to share their expertise, research findings, best practices, and insights with peers. Attendees can learn about the latest advancements, trends, and innovations. To know more about the conference proceeding, kindly visit www.renewx.in

7. What can attendees expect from Brands@RenewX 2024, and how does it contribute to showcasing the latest innovations and products in the renewable energy sector?

The expo offers insights into the latest market developments, emerging trends, investment opportunities, and regulatory changes. Attendees can source High-efficiency Solar Panels, Top ratedInverters & UPS from leading brands, Mounting structures, Trackers & Financing solutions fortheir business need. Buyers can discuss pricing, terms, and conditions with exhibitors, negotiate discounts or special offers, and finalize purchase agreements onsite.

]]> https://www.eqmagpro.com/eq-in-exclusive-conversation-with-mr-arun-chaudhary-sales-head-mea-india-sineng-electric-co-ltd/ Wed, 01 Nov 2023 05:43:41 +0000 https://www.eqmagpro.com/?p=321375 1. What’s your target or anticipated business for this FY for India?

In 2023, Sineng Electric envisions a dynamic landscape in the Indian energy market, where we have seen a wealth of opportunities for our company to thrive and excel.

We have been proactive in enhancing our services and ensuring that our clients have access to cutting-edge technology. It has been made possible through strategic collaborations with industry-leading EPCs, developers, and other stakeholders in the solar energy sector. The year commenced on an exceptionally positive note, many projects have concurrently picked up speed at the beginning of the year, and commissioning is already underway for many projects.

Furthermore, our efforts have borne fruit with the signing of contracts for gigawatts of projects. The momentum in order is expected to continue steadily throughout Q4 of 2023. We not only focus on the utility-scale market but also see vast potential in the C&I, residential, and energy storage segments, which have shown significant promise.

2. How much business have you done last financial year in India?

For Sineng Electric, we have witnessed an exponential increment in PV inverter and PCS sales during the last financial year. Notwithstanding certain challenges, such as high raw material prices and shortage of key components, we have successfully managed to deliver the products on time thanks to our well-organized supply chain management.

As a leading supplier of PV and energy storage solutions, Sineng has consistently dedicated to innovation, driving company’s rapid growth. At Sineng Electric, we have always prioritized quality and customer service, continuously optimizing energy solutions to meet higher standards. Thanks to these ongoing efforts, the year 2022 proved to be highly lucrative, as Sineng Electric proudly ranked Top1central inverter supplier in India for 2 consecutive years.

3. What are your current product / technology / service offerings?

With over a decade of track record in the solar industry, Sineng Electric offers an array of products, including PV inverters, energy storage inverters, and power quality products, catering to customers’ diverse needs.

In the realm of solar inverters, our comprehensive product lineup ranges from 3kW to 4.4MW, applicable to residential, commercial, and utility-scale projects.

• In the utility-scale string inverter category, we proudly introduce the 275kW inverter, which is designed to be compatible with high-power modules of 182mm and 210mm wafers, with a maximum string current of 20A. Based on the same technology, 350kW string inverter has been developed and it has been adopted in the Chinese domestic market extensively.
• Among the central inverter product series, our flagship offering is the 3.125MW PV solution featuring dual MPPT, which has witnessed GWs of installations worldwide. In response to market demands, we also introduced a 3.3MW solution in 2021, and further expanded our portfolio with the launch of a groundbreaking 4.4MW solution, redefining the benchmark in the central inverter solution segment.
• In the C&I sector, Sineng supplies25(X)-125kW string inverters. With high string current, built-in AFCI, string current detection, and handle design, the products have gained widespread popularity in the Indian market, thanks to their outstanding performance and user-friendly operation.
• Regarding the residential market, we provide 3kW-25kW solar inverters, featuring fanless design, natural cooling and supporting a 1.5 DC/AC ratio. Our inverters stand out with their superior efficiency, unparalleled reliability and utmost safety, making them the ideal choice for homeowners seeking sustainable and hassle-free energy solutions.

4. What are the product launch plans for this year?

As a customer-centric vendor, there is a zeal in us to make service and products better. Over the years, Sineng has kept investing in research and development, striving to improve the products in terms of efficiency, modularity, diversified capacity, etc. Keeping current market requirements in mind, Sineng looks forward to launching the following products:

• EP-4400-HB-UD: As expected, 4.4MW central inverter solution will be launched in quarter four of 2023 for the international market. This solution has 4 MPPTs, each 1.1MW has one MPPT, overload capacity is 120%. Optimized cooling system and better thermal management has been equipped to improve the utilization of semiconductor device. One module can be tagged out of operation without affecting other healthy modules, this is how the availability of inverter has increased.
• SP-350K-INH: Sineng also will launch the 350kW string inverter in quarter four as well. With maximum efficiency of 99.0% and 12 MPPTs, the product has been regarded as the preferred choice for utility-scale applications. Engineered with IP66 protection, the string inverter ensures reliable performance in harsh environments, including deserts, mountains, and adverse weather conditions. The SP-350K-INH, with the MPPT current of 45A, offers seamless compatibility with high-power modules and provides cost-saving advantages.

5. As Sineng has planned to expand its annual production capacity of PCS and BESS, what are your views on the energy storage market?

To expand our annual production capacity of PCS and BESS underscores our unwavering confidence in the energy storage market. According to S&P Global, the period from 2022 to 2030 is expected to witness the installation of a staggering 12.1 GW and 30 GWh of energy storage in Indian market, marking a substantial upswing in prospects. By 2025, the market is projected to experience exponential growth, with nearly 8 GWh in annual installations, and we wholeheartedly believe in its boundless potential.

In residential energy storage projects, ESS serves as the whole home backup, cutting electricity expenses, optimizing self-consumption, and diminishing reliance on the grid. For C&I applications, energy storage systems emerge as powerful tools for reducing peak demand charges, providing grid support services such as frequency regulation, and ensuring uninterrupted power supply. When it comes to utility-scale power stations, energy storage plays a pivotal role in guaranteeing grid stability, enhancing resilience, and enabling peak shaving. As the industry places greater emphasis on the significance of solar-plus-storage solutions, we envision a bright and promising future ahead. Our investment in expanding production capacity exemplifies our steadfast commitment to meeting surging demand and contributing to a more sustainable energy landscape.

4fores, a technology-based Spanish company offering engineering services for the “optimization of renewable energy systems”.At 4fores, we always thrive for technological led innovation. Our R&D team is continuously investing in customer focused innovation projects. One such example is to design and develop 12 MW LVRT/HVRT test laboratory for one of the prestigious customers in renewable industry.

4fores is specialized in consulting, engineering, certification, testing, and inspection of renewable energy power plants as well as HV electrical installations as substations, power transmission and distribution network.

We also carry out Grid Integration Studies (Plant modelling, simulations, and engineering studies) to demonstrate the compliance to the grid code regulations.

Below listed are few of the services we offer:

• Grid Quality evaluation, modelling, and simulation studies. Network integration studies, Load flow analysis, Transient stability analysis
• Engineering consultancy to get the optimum output from the power plants.
• Technical support to study incidents, RCA, troubleshooting support resulting optimized operation.
• Measurement, recording and analysis of power quality parameters for improved grid compliance.
• Testing and certification of wind turbines and other types of Generators under Low voltage and High Voltage Ride Through (LVRT and HVRT)
• Design, development, and manufacturing of electrical equipment’s (Mobile Substation, Testing Laboratory, BESS, EV Charging stations)
• Outsourced R&D support as per customer’s requirement
• Development of algorithms for design and optimization of components. (E.g. reduce cost, size and to improve performance

4fores India Pvt Ltd was established to cater renewable energy customers requirements in India.

Our MISSION : We stive to offer our customers technology-based solutions for the optimization of energy assets.

Our VISION : To be recognized as engineering services and leading global R&D company in Energy Sector.

2. What’s your target or anticipated business for this FY for India

Our anticipated business for this fiscal year in India is focused around leveraging our engineering expertise to drive sustainable solutions within the renewable energy sector. We have set ambitious targets to contribute significantly to the green energy landscape and play a pivotal role in India’s transition towards a cleaner, more sustainable future.

Our key objectives are :

• Market Penetration: Our primary objective is to establish a strong presence in the Indian renewable energy market to offer our services. This will be achieved through targeted marketing efforts, strategic partnerships, and a keen focus on client acquisition within the sector.

• Diversification of Services: We aim to expand our service offerings to cater to various segments of the renewable energy industry. This includes wind, solar, hydro, and other emerging technologies.

• Technology Innovation: We are committed to staying at the forefront of technological advancements in the renewable energy sector. This will involve investing in research and development, as well as fostering partnerships with leading technology providers to offer cutting-edge solutions to our clients. We have strong R&D team working on various innovation projects.

• Client-Centric Approach: Our success is basically tied to the success of our clients. Therefore, we will maintain a client-centric approach by providing tailored solutions, excellent customer service, and ongoing support throughout project lifecycles.

By aligning our objectives with the broader goals of the renewable energy sector in India, we are confident in our ability to not only meet our anticipated business targets for this fiscal year, but also contribute significantly to the country’s sustainable energy future.”

3. Tell us more about your own professional journey, key learnings, key message from yourself:

Absolutely, I would be happy to share a bit about my professional journey. I have completed my engineering in “Electrical, Electronics and Power System” from Dr. B.A.M.U and did master’s degree in operations management from Wellingkar’s Institute of Management Studies, Mumbai.

I started my career in Power Sector right after completing my engineering. Over the years, I have had the privilege of working with some incredibly talented individuals and being a part of EMCO, Cummins Generator Technologies, Suzlon Energy, Andritz Hydro and Genpact.

I have 20 years of holistic experience in the Power Generation and Energy sectors from concept to commissioning. I have acquired a 360-degree business approach and hands-on experience in all spheres of capital equipment life cycle business management ranging from Asset Management, Project Management, Quality Assurance, Product Development, Business Development and Engineering services in the Power and Energy Space.

I also got international work experience working on various assignments in the area of consulting projects, operational excellence projects delivering significant business impact.

One of the key learnings that has shaped my career is the importance of adaptability. I have found that embracing new challenges with an open mind not only leads to personal growth but also enhances the value I can bring to my team and projects.

Another valuable lesson I have learned is the power of collaboration. No matter how skilled an individual is, true innovation often comes from the collective effort of a diverse team. I’ve seen firsthand the impact of effective teamwork in achieving complex goals and surpassing expectations.

One of the key messages I would like to convey from my professional journey is the importance of continuous learning. Whether it’s staying updated on industry trends, seeking out new certifications, or exploring different perspectives, I believe that a commitment to lifelong learning is essential for long-term success.

In summary, my professional journey has been characterized by adaptability, collaboration, continuous learning, integrity, and a growth mindset.

4. What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipeline etc…

The opportunity for offering engineering services in the Indian renewable energy sector is particularly promising at present. Following are some key aspects to consider:

• Growing Renewable Energy Market: India is aggressively pushing for renewable energy adoption to meet its ambitious targets. The government has set an ambitious goal of 450 GW of renewable energy capacity by 2030. This includes a significant focus on solar, wind, and other emerging technologies.

• Technological Advancements and Innovation: The renewable energy landscape in India is witnessing rapid technological advancements. This includes improvements in solar panel efficiency, energy storage solutions, and grid integration technologies. Our offering cutting-edge engineering solutions in these areas can give a competitive edge.

Indian companies and research institutions are actively seeking collaborations with international R&D firms to develop and refine renewable energy technologies. Opportunities exist for projects focused on improving solar panel efficiency, wind turbine design, energy storage solutions, and advanced materials for renewable energy components.

• Grid Integration and Storage Solutions: With the increasing penetration of renewable energy sources, grid integration and energy storage solutions are becoming critical. Our grid integration studies to meet the grid code compliances can help to improve grid reliability and stability.

India’s power grid is undergoing a significant transformation to accommodate the growing renewable energy capacity. R&D projects related to grid integration, smart grid technologies, and demand-side management can help optimize the utilization of renewable energy sources.

In summary, the opportunity for offering engineering services in India’s renewable energy sector is substantial, driven by ambitious government targets, technological advancements, and a growing market.

Q1. What is your New Venture About?

Ans: TerraNxt is creating a Digital Platform which will significantly reduce the fast growing Soft Costs* in Solar PV Business. Over last 3 decades, industry was focused in developing technologies that helps in reduction of cost of Solar Modules, Inverters and Racking system while there was minimal focus on adoption of technologies that helps reduce the Soft Costs.

Q2. What are Soft Costs and why they are a concern area?

Ans: Soft Costs are all those costs involved in delivery of Solar PV Project which are associated with human being. E.g Customer Acquisition Costs, Design Costs, Risk Analysis and Proposal Preparation Costs, Project Management Costs, Cost of Delays and other in-efficiencies, Cost of O&M, etc. Due to shortage of talent in the industry and annual increments to beat inflation, these costs have been growing steadily. They used to be in the range of 10% to 18% around a decade back, and are now in the range of 15 to 30% (depending upon the size of the PV Plant). For the Net Zero goals to materialize, a sharp focus on continuous cost reduction of PV is imperative and TerraNxtis doing its bit in this direction

Q3: How is this idea born and who else is part of this?

Ans: Like any other start-up, this was also started as an idea 2 years back at a coffee house where 4 friends were discussing to do something by leveraging their respective skills. My other co-founders – Rupesh Kumar, Krishanu Acharya and Amit Kumar were already a full time entrepreneurs in the area of Satellites, Geo-Spatial Analytics and Digital Technology Development and were convinced that Solar PV is the next big opportunity. I was mentoring them by giving ideas and what are the needs of the industry and pain areas and what kind of solution will be needed by the industry. I was lucky to get a brief stint as Digital Transformation Leader at ACWA Power where I saw huge possibilities of Digital Technologies making a strong impact on Solar PV Sector. And one fine day, I decided to join my friends full time to lead this venture. It was a tough decision (leaving a high paying job at one of the best companies) but I was well supported by my family in allowing me to pursue my passion.

Q4. Can you tell us a bit more about what TerraNxt will bring out soon? In layman’s term

Ans: TerraNXt will be launching its first product (PVNxt) in FY2024 which will:

A. Reduce the Costs of Visits to Customer Roof to ZERO
B. Will significantly enable SMEs/MSMEs involved in Solar Roof Top PV Business by reducing their costs of doing business and increase response to customers
C. Will enable DIY for Roof Top PV Customers (for less than 100 KWp size)
D. Will help optimize the design of Utility PV Plants by providing best tilt-pitch combination within minutes
E. Will generate LOD 300 level 3D Layout of Utility Scale PV plants in minutes (fully Geo-located components) for Digital Twinning and use in 6D BIM Project Management
F. Will Generate Detailed BoQ of Utility Scale Plant (Level 3)
G. Will provide complete risk analysis of any terrain incl associated cut-fill volumes and layout challenges within hours. Something that Developers/EPC need during large bids

Q5: Which markets are you focusing?

Ans: Our platform is being built entirely on Cloud and can be accessed by any customer worldwide. We shall be initially focused on Asian Markets (incl Middle East) and will have different business models suiting to the needs of each target country.

Q6. Who are your competitors in this space? And how are you going to deal with them?

Ans: We have few big players from European and USA region who have done a good amount of work in this field. Some of the noteworthy players are – Aurora Solar, TerraBase Energy, PV Case, Enpal. We believe that PVNxt will provide lot many value pools to customers and at a descent detail which these platforms are still lacking and that our teams rich experience in Solar PV EPC (with focus on details) will be leveraged to its full extent.

Q7. Are there any Investors on-board?

Ans: We are currently boot-strapped and incubated at FITT IIT Delhi and Wadhwani Foundation. Hoping to get an investor very soon!!

INVT (Shenzhen INVT Electric Co., Ltd) was founded in 2002. It is a product and service provider in the world’s leading and respected industrial automation and energy power field. In 2010, the A-share were listed on the Shenzhen Stock Exchange (Stock Code: 002334).

INVT has been concentrating on industry automation and energy power and is committed to “Providing the best product and service to allow customers more competitiveness”.

In indian market started solar business from Mid of 2015 & till date system running successfully in Indian market. Eventhough as per standard 5Years warranty terms we have completed one cylces& ready to finish 2nd cycle for warranty within 2 years.

At present, the main product range of INVT Solar includes on-grid inverters (1-136kW), off-grid inverters (3-5kW),Hybrid Inverter (3-12kw), energy storage inverters (3-630kW), pump inverter, the energy storage inverter, the light storage solution, the intelligent family energy ecological chain. Products are exported to Europe, Australia, Southeast Asia-India, and other more than 60 countries and regions, providing photovoltaic poverty alleviation and distributed generation services.

19 years of experience accumulation of inverter technology, lead the photovoltaic.INVT has accumulated 19 years of experience in power electronics and inverter technology. The company has 12 major R&D centers, the first one has the qualification of TUV-SUD eyewitness laboratory, owns the UL eyewitness laboratory qualification and the national CNAS laboratory. The company has invested more than 10% of its sales revenue each year, and now has more than 1050 patents. The iMars series inverter has a unique product technology advantage in product stability, power efficient transformation, low harmonic current harmonics and grid security access, which can be widely used in BAPV (home roof, office roof, factory roof), and BIPV. Building integrated), commercial power station and other distributed photovoltaic grid connected power generation system.

2. What kind of new services and solutions have you brought in for your customers?

In terms of service INVT serving from last 8years in Indian market &More than 400MW+ installed systems in C&I sectors. All systems running very successfully & INVT offering ontime warranty with spares in the market. Ontime onsite prompt response is our service motto. We are upgrading our product as per market demand

3. Please tell us about INVT Electric’s products and solutions?

4. What’s your vision for the Indian solar industry beyond 2020 ?

INVT Group already stock listed from last more than 10 years & We have planning to develop our brand on very different level. We have planning to setup For solar inverter Manufacturing level in Indian market. We will add Solar inverter & EV charger development in our production basket. We will upgrade more our product portfolio & same as we will more focus on quality product with actually usable supportive warranty terms. In Indian market some brand offering more than 8 years warranty but actually in a current scenario they are not providing after sales service support after installed within 1-2 years and same sometimes not providing replacement unit or card as they committed to customer. So our aim is provide meaningful supportive ontime onsite service not like other companies fake committed after sales service support on non visionary humbug service warranty. Our aim is provide Valuable product with upgraded technology with Coast effective & after sales service response if main important with committed warranty frame & same as support after product warranty terms.

We at GoodWe continue to offer robust energy solutions for Indian solar market.We have quite a flexible range of solar On-Grid string inverter solutions for Residential, Commercial, Industrial and Utility projects in India. Our string Inverter range for Residential rooftop starts at 0.7kW and extends to 20kW.Our Commercial and Industrial product offerings range from 25kW to 120kW and our utility product segment offers 250kW and 350kW.All the inverters offer a very low start up voltage of only 200V and comes with most updated MPPT technology so as to maximise the generation from your solar project.These three-phase string inverter is specially designed to maximize the benefits of large ground-mounted projects and rooftop projects. Effectively if you wish to put up solar over your roof or on ground, GoodWe has a solution to your every solar inverter requirement.

In the energy storage sector, our hybrid inverters range from 3 kW to 100 kW, allowing seamless integration of energy storage systems. We manufacture lithium-ion batteries with capacities ranging from 5.4 kWh to 16.4 kWh, providing reliable and efficient energy storage solutions.

To promote sustainable transportation, we offer solar powered EV chargers in single-phase and three-phase configurations ranging from 7 kW to 22 kW.

In Totality we offer a diverse productrange, withone of the highest efficiency, safety and cost effectiveness to drive the energy transition in a big market like India.

2.What are the product launch plans for this year.

This year we are launching GoodWe 350kW string Inverter for utility-based ground mount projects. It has some of the latest features which will not only lead to higher yield but also help you with lowest operation and maintenance. It offers flexible 12 MPPT and 15 MPPT options, supports dual modules with a maximum series input current of 15/20 A, and supports 182 mm / 210 mm modules. The integration of IV curve scanning and diagnostic functions simplifies management and maintenance and improves performance. Focusing on safety, cost optimization (LCOE) and economics, the 350kW 1500V inverter is best in class string inverter suitable for your utility-scale PV projects.

3. What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipeline etc…Opportunities in Manufacturing etc…

India’s solar renewable market has been experiencing significant growth and opportunities. The Indian solar market offers some really exciting opportunities:

Solar Project Tenders and Pipeline:

India has been actively promoting solar energy through various government initiatives and policies. The solar project pipeline in India, particularly in the utility-scale sector, has been robust. Opportunities abound in both central and state-level tenders. The government’s focus on achieving ambitious renewable energy targets has created a favorable environment for solar projects.

Solar Rooftop Segment:

The rooftop solar segment, including residential, commercial, and industrial installations, has been growing steadily. Government incentives, net metering policies, and the desire to reduce electricity costs have driven this growth. The residential, commercial and industrial market happens to be in the sweet spot for India.

Energy Storage and Hybrid Systems:

As solar penetration increases, energy storage solutions and hybrid systems are gaining importance. We can consider exploring opportunities in this sector, especially in regions with intermittent grid supply or in remote areas where off-grid solutions are needed.

Skill Development and Training:

Given the growth of the solar industry, there’s a growing need for skilled labor and professionals. GoodWe offers opportunities in providing training and skill development programs for the solar workforce.

4.What kind of market do you anticipate in 2023 in terms of Utility / C&I / Residential

I think solar market is going to get really exciting and booming this year, given the drop in PV module prices. We have already surpassed targets set for solar this year and India continues to grow it’s solar installation share at the fastest pace. In terms of anticipating specific markets:

Utility-Scale Solar Sector: The utility-scale solar sector in India is expected to continue its growth trajectory. The government has set ambitious targets for renewable energy capacity, including solar, and was actively promoting solar projects through competitive bidding and incentives. Opportunities for utility-scale solar projectsare likely to remain robust, with a significant pipeline of projects in various stages of development. Auctions and tenders for large-scale solar installations are expected to continue, offering opportunities for project developers, EPC companies, and component manufacturers.

Commercial and Industrial (C&I) Sector: The C&I sector is emerging as a promising segment for solar installations, driven by increasing awareness of sustainability and the need for cost-effective power solutions. Many businesses and industries are exploring rooftop solar installations to reduce electricity costs and meet their sustainability goals. Solar companies catering to this sector are likely to find opportunities in providing customized solar solutions and financing options to C&I clients.

Residential Solar Sector: The residential solar sector is also expected to grow as more homeowners showed interest in adopting solar PV systems for energy generation. Government subsidies, net metering policies, and decreasing solar panel costs are making residential solar installations more affordable. Solar companies specializing in residential installations could tap into this market by offering competitive pricing, quality products, and effective marketing strategies.

Energy Storage and Hybrid Systems: The integration of energy storage solutions with solar systems are gaining importance, especially in regions with unreliable grid supply. Companies offering energy storage solutions and hybrid systems are expected to see increased demand, particularly in remote areas and industries with critical power requirements.

5.What kind of growth do you see coming in the Residential Sector Demand

The residential sector in India’s solar industry is expected to experience significant growth in demand, driven by several factors:

Reduced Solar Panel Costs: The cost of solar panels has been steadily decreasing, making residential solar installations more affordable for homeowners. This reduction in costs is expected to continue, further incentivizing residential adoption.

Government Subsidies and Incentives: Various state and central government incentives and subsidies are available to promote residential solar installations. These incentives, such as net metering and subsidies on solar equipment, make it financially attractive for homeowners to invest in solar power systems.

Rising Electricity Prices: The increasing cost of conventional grid electricity in many parts of India make solar power an attractive option for homeowners seeking to reduce their electricity bills. Solar installations provide long-term savings on electricity costs.

Environmental Awareness: Growing environmental consciousness among homeowners lead to increased interest in clean energy solutions. Many individuals and families wantto reduce their carbon footprint and contribute to a more sustainable future.

Grid Reliability: In regions with unreliable grid electricity supply, residential solar installations with battery storage become an appealing option to ensure uninterrupted power availability.

Availability of Financing Options: The availability of financing options, including loans and lease agreements, make it easier for homeowners to invest in solar power systems without significant upfront costs.

Government Initiatives: The government has launched programs to promote rooftop solar installations in residential areas. Such initiatives aim to simplify the installation process and reduce administrative barriers.

Given these factors, it is anticipated that the residential sector’s demand for solar installations will continue to grow in India. Homeowners are increasingly considering solar power not only as a means to reduce electricity bills but also as a long-term investment in clean energy.

Solplanet is a brand of AISWEI, which is formerly known as SMA’s Chinese subsidiary and has successfully been manufacturing high-quality and reliable products for renowned brands like SMA and Zeversolar.

Today, AISWEI is a leading R&D and manufacturing company focusing on clean energy. Headquartered in Shanghai, China, with three R&D centres, one manufacturing base, and offices in Asia, Europe, South America, Africa, and Oceania, AISWEI and Solplanet serve customers in many countries and regions across the globe.

With Solplanet, you get innovative solar products that are easy to install, highly reliable, extremely user-friendly and supported by our award-winning customer service. From single-phase inverters for residential use, to three-phase high-performance inverters for commercial and industrial situations, and even EV chargers, Solplanet’s product line contains simple-to-use products that can help to bring more sun into any home or business.

Rico Guo brings a wealth of experience and expertise in international sales strategy and has played a crucial role in expanding Solplanet’s global presence. His leadership has been instrumental in driving the company’s growth and commitment to sustainable energy solutions on a global scale.

On the other hand, Huseyin Büyükbektas is a professional in the MENA region, where solar energy is rapidly evolving. As the MENA Sales Director, Huseyin has been spearheading Solplanet’s efforts in this dynamic market, capitalizing on his deep knowledge of the region’s unique opportunities and challenges.

What are your current technology offerings?

Solplanet is committed to offering cutting-edge technology to the industry. With a legacy of well over a decade in the manufacturing segment we developed a broad portfolio of products that arebest fit for the residential commercial and industrial utility segment. We offer a complete range of residential inverters and C&I Inverters. Solplanet inverters are equipped with ShadeSol technology, a crucial feature that optimizes energy generation by addressing shading issues. This feature holds significant importance forresidential, commercial, and industrial (C&I) segments. We take pride in positioning Solplanet inverters as a high-quality solution offered at a competitive and affordable price point. Recognizing the challenges associated with demand and supply, we ensure ready stock availability at our distributor points. The lightweight design and user-friendly installation procedures of Solplanet inverters have garnered immense appreciation and interest from numerous EPC companies. Additionally, our pro version inverters are capable of accommodating high ampere strings and support a 150% DC overload, catering to the unique demands of various regions. Solplanet remains committed to delivering reliable, efficient, and technologically advanced solutions that meet the market’s evolving needs.

What are the plans for the Indian market for this year?

We have developed a value chain by choosing the right distribution partner for India. We are delighted to announce the appointment of Power-n-Sun as our authorized partner for the MENA region. With their support, we aim to achieve remarkable success in the commercial and industrial (C&I) segment. Our ready stock and ongoing discussions regarding significant opportunities demonstrate our commitment to supplying Solplanet inverters. We aim to promote our flagship product Aquarius series 110KW inverter. Excitingly, there are several upcoming projects on the horizon. The positive responses received from EPC companies and developers have been incredibly encouraging, prompting us to expand our presence in all the regions of India. To ensure seamless sales and service operations, we have established a robust network throughout India. We are grateful for the strong partnership that supports our goals and look forward to continued success together.

Tell us more about your professional journey, key learnings, and key message from Yourself

As the Regional Sales Manager at Solplanet, I am responsible for overseeing the MENA and India markets. My expertise lies in developing new markets by establishing business relationships through the appointment of channel partners and the activation of key accounts. With a strong focus on product features and benefits, I aim to leverage my experience to drive business growth for Solplanet in the MENA and Indian regions. Previously, I held the position of Sales Head at SMA, where I successfully managed the Indian market. In addition, I took on the additional responsibility of overseeing the 2GW O&M portfolio for a utility-scale business. My skills extend to sales forecasting and managing large-scale business deals. I am always eager to expand my knowledge, currently focusing on OEM and ODM business practices. Throughout my career, I have successfully launched multiple products to the market, including the Sunny Tripower series by SMA, Zeversolar, and SolidQ50 products.

Achieving success often involves facing challenges and setbacks. Perseverance and resilience are essential traits to overcome obstacles and stay focused on long-term goals.

Building strong relationships and working collaboratively with partners is crucial for personal growth and professional success. Empathy helps in understanding others’ perspectives and building meaningful connections.

I often emphasize the importance of authenticity, staying true to one’s values, and making a positive impact on others and the world. I encourage individuals to embrace their unique qualities, use their talents to contribute positively and create a meaningful legacy.

What is your opinion on the domestic manufacturing of Inverters?

India has been steadily increasing its manufacturing capacity for solar products due to its ambitious renewable energy goals and policies to promote solar energy. Several companies had set up solar manufacturing units in the country, and the government had been actively encouraging domestic production through initiatives like the “Make in India” campaign.

In my opinion, domestic manufacturing or assembling helps us to reduce import costs, promote local employment, and contribute to the growth of the solar manufacturing ecosystem in India. At the same time, we have to consider the quality production and quality checks before the product hits the market.

I am curious to know if these domestic units are maintaining in-house quality checks and testing units as follows:

• Temperature and humidity tests
• Shock and vibration tests
• EMC compliance tests
• Long-term field tests under real-life international grid conditions
• Water/dust resistance testing
• Reliability tests include high-temperature and full loading, long-term salt fog endurance tests,

Solplanet is continuously improving the technologies through our internal R&D centres. We aim to develop products with the best quality components with all the in-house product testing facilities to ensure a reliable product. We will be happy to have strategic partnerships with large conglomerates in India.

Open question, is there something you want to add?

In light of the specific requirements and conditions in India, we advise developers, EPC companies, and stakeholders to consider Solplanet inverters as their preferred choice. Our inverters, featuring ShadeSol technology for optimized energy generation, are well-suited for the unique challenges associated with shading issues in the region. Moreover, the high-quality construction and competitive pricing make Solplanet inverters an attractive option for both residential and C&I projects. With our ready stock availability and efficient after-sales service network, we ensure a seamless experience for our customers in the India region. By choosing Solplanet inverters, stakeholders can benefit from cutting-edge technology, ease of installation, and reliable performance, ultimately contributing to their success in the dynamic renewable energy market of the India region.

Vipin Bhardwaj : In 2023, we anticipate a dynamic and evolving market in the renewable energy sector in India, characterized by growth across various segments. Here’s a breakdown of our expectations:

Utility-Scale Market: We anticipate continued growth in the utility-scale solar market. Government initiatives and policies promoting renewable energy adoption, coupled with falling solar panel costs, are likely to drive large-scale solar projects. Utility-scale installations will continue to play a significant role in meeting India’s renewable energy targets. We are also inline to growth plan of India Utility market by our Upcoming Launching of Utility Inverter in 1500V.

Commercial & Industrial (C&I) Market: The C&I segment is expected to experience substantial growth in 2023. Many businesses and industries recognize the economic and environmental benefits of adopting solar solutions. We Solax keep on delivering the preferredour C&I Scale inverter till 125 KW High standard features and with advancements in technology with, we anticipate increased adoption of solar energy among commercial and industrial consumers looking to reduce their energy costs and environmental impact.

Residential Market: The residential solar market is poised for significant expansion in 2023. Increasing awareness of solar energy’s benefits, coupled with government incentives and net metering policies, will drive more homeowners to invest in solar installations. The launch of innovative residential solar products, like our X1-BOOST G4 and X1-MINI G4 inverters, will contribute to the growth of this segment.

In summary, 2023 is expected to see growth across all segments of the renewable energy market in India, with utility-scale, C&I, and residential sectors all contributing to the country’s renewable energy goals. This diverse market landscape offers opportunities for stakeholders across the industry, including SolaX Power, to provide tailored solutions that meet the unique needs of each segment.

Q2. SolaX Power has a reputation for technological advancements. Can you elaborate on any recent technological updates or breakthroughs that have been integrated into your solar inverter solutions?

Vipin Bhardwaj : We Solax brings technological advancements include the integration of Smart Feature i.e. IV curve Scanning, Higher Current (16 A) Per Sting and capabilities into our inverters to integrate with High Fluctuation in Grid. This groundbreaking feature enhances Safety, grid stability during voltage fluctuations, contributing to grid reliability and renewable energy integration. Additionally, our products now incorporate AI-based predictive maintenance, reducing system downtime, and ensuring long-term reliability for solar systems. These innovations underscore our commitment to cutting-edge technology in the solar inverter sector.

Q3.Could you provide some insights into Solax current market presence and any upcoming plans for expansion in the India Market ?

Vipin Bhardwaj : SolaX Power is committed to expanding its presence in the Indian market. Currently, we have a strong foothold with a Multiple PAN -India Distributors, Regional Service warehouses and Local Sales and Service team in India, and we are actively working to further strengthen our network of partners and service centres. Our upcoming plans include introducing new products, enhancing customer support, and collaborating with local stakeholders to promote sustainable energy solutions across India. We are dedicated to contributing to India’s renewable energy goals and providing innovative solar and energy storage solutions to Indian consumers.

Q4. What are the SOLAX’ s product launch plans for this year?

Vipin Bhardwaj : In 2023, SolaX Power already brings new and high demanded renewable energy solutions in India. Our recent product launches, including the Mini and Boost G4 inverters and Hybrid inverters in 48V, have already set higher standards for efficiency and reliability in residential solar installations. But we’re not stopping there. Anticipating the needs of businesses and industries, we’re gearing up to unveil our Commercial Series of Hybrid inverters, promising efficient and sustainable power management solutions. Furthermore, our forthcoming release of Low Voltage Stackable Li-ion batteries in 2023 is poised to revolutionize energy storage, offering unprecedented scalability and efficiency for both individuals and businesses. With these launches, SolaX Power reaffirms its commitment to providing innovative, eco-friendly energy solutions, empowering India to embrace a greener and more sustainable future.

Whats your target or anticipated business for this FY for India

We are proud to be a part of Make in India Campaign of Government of India. Our target is to achieve 500 MW in a coming year and increasing capacity year on year. Currently our manufacturing unit is established in 15000sqft area of 3 storied building. We have planned construction for a visionary and fully automated manufacturing facility with more than 80000sq. ft area in next 3-4 years.

PVblink has an ambitious plan to expand its manufacturing unit capacity to 2GW by 2025. Currently possessing for residential range inverter, the company plans to manufacture the same for commercial and industrial range.

What are your current product / technology / service offerings

At the heart of PVblink’s success story lies its state-of-the-art solar inverter technology. PVblink’s inverters take efficiency and reliability to new heights. By incorporating advanced algorithms and smart grid integration, these inverters optimize energy conversion, ensuring every ray of sunlight is utilized to its maximum potential.

Since its inception, PVblink has achieved remarkable milestones. Partnering with industry leaders and collaborating with research institutions, the startup has been at the forefront of innovation, constantly pushing the boundaries of solar inverter technology. Their presence is already felt across India, where solar installations powered by PVblink’s inverters are making significant contributions to reducing dependence on fossil fuels.

Our Single phase inverter has 18Amp input current capacity, compatible with latest high watt peak modules. Our Three phase inverter has 36Amp input current capacity, compatible with latest high watt peak modules.

With a professional R&D team, PVblink puts its best foot forward in terms of product innovation and portfolio expansion, ensuring that production capacity and product quality go hand-in-hand across the entire range. PVblink is committed to becoming a major driving force in the global transition towards a sustainable future.

As a reliable and efficient solution and service provider, PVblink’s philosophy is to create a win-win partnerships with its customers. By understanding the pain points of customers and integrating them in our customer care, PVblink is able to offer outstanding before and after sales service.

What are the product launch plans for this year

In current Year, we are glad to announce that we are launching our single phase series from 0.6kw to 6kw with single and dual MPPT with Maximum Input Current Capacity of 18 Amp in India. And for Three Phase right now we are launching series of inverters from 5kw to 30kw with 3 MPPT and Maximum Input Current Capacity of 36 AMP.

PVblink also have a range of offgrid product solution as per market requirement from 1kva to 250kva.

Additionally, we understand the demand of the market and to comply the need of the market, our R&D team had successfully developed “Hybrid Switch” which will be game changer of Industry through which one can be use their existing ongrid system’s modules for charging batteries of offgrid system.

What are the company’s strategies to achieve target anticipate for this FY

Company’s strategies to achieve target may include:

• Our Marketing and sales strategies.
• Expansion plans into specific geographic areas .
• Partnerships or collaborations.
• Product or service enhancements. – Our R&D Team is continuously working for product innovations and enhancement.
• Customer acquisition and retention strategies.

Tell us more about your own professional journey, key learnings, key message fromYourself

With a mission to make solar energy accessible to all, PVblink is democratizing clean power generation. By offering a range of inverter models suitable for residential, commercial, and industrial applications, the startup is bridging the gap between renewable energy technology and diverse consumer needs. Moreover, their commitment to affordability ensures that solar power becomes a viable choice for a wider demographic, accelerating the transition to a cleaner energy future.

Please tell us more about your company, directors in detail

PVblink Technology Pvt. Ltd. is a Solar Inverter Manufacturing company and has a global presence. The company has been founded by a group of highly experienced renewable energy professionals who have a collective vision of widening the accessibility of renewable energy.

Our mission is to become a leading provider of solar inverters across all solar PV segments. PVblink is an ISO 9001:2015 certified Company that prioritises ethical and correct business practices. With research and manufacturing of PV inverters and renewable energy solutions at its core, PVblink is able to offer an extensive product portfolio for residential, commercial and industrial purposes.

Market Specific Questions

What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipelineetc…Opportunities in Manufacturing etc…

India is taking significant steps toward the solar energy sector and has set ambitious targets for renewable energy capacity addition. The government has been actively promoting solar energy through various initiatives, policies, and tenders, creating opportunities in the manufacturing and project development sectors.

There has been a visible impact of solar energy in the Indian energy scenario during the last few years.

Mission’s objective is to establish India as a global leader in solar energy by creating the policy conditions for solar technology diffusion across the country as quickly as possible.

India aims to create a solar power capacity of 280 GW by 2030.

In order to achieve the target, Government of India have launched various schemes to encourage generation of solar power in the country like Solar Park Scheme, Kusum yojana, Canal bank & Canal top Scheme, Bundling Scheme, Grid Connected Solar Rooftop Scheme etc.

Currently Solar power installed capacity has reached around 70 GW.

Government provide the opportunity in terms of tenders by giving best subsidies to the consumers from prospective suppliers.

The “Make in India” Campaign run by government has encourage the manufacturers in India to start the manufacturing of solar inverters, Solar panels, Batteries and other related equipments. These campaign encourages the establishment of solar manufacturing facility in the country.

What kind of market do you anticipate in 2023 in terms of Utility / C&I / Residential

Solar industry has been experiencing significant growth globally, including in utility, commercial and industrial (C&I), and residential sectors. This trend is driven by factors such as decreasing costs of solar technology, increasing environmental awareness, supportive government policies and tenders, etc…

In recent years, utility-scale solar projects have gained momentum due to their potential for large-scale electricity generation and cost competitiveness. Governments and utilities often conduct auctions and tenders for the development of utility-scale solar parks and projects.

The C&I sector has also shown promising growth in solar adoption. Many commercial and industrial establishments are installing solar systems to reduce energy costs, enhance sustainability efforts, and meet renewable energy targets. These shows the best opportunity of growth for the suppliers, EPC constructors etc..

The residential solar market has seen increasing interest as well, driven by subsidy schemes, net metering policies, and consumer awareness of the benefits of solar power. Homeowners are opting for rooftop solar installations to generate clean energy, reduce electricity bills, and contribute to environmental sustainability.

Which regions or states looks most promising to you for 2023

The top 5 states for installed renewable capacity in India are Rajasthan, Gujarat , Karnataka, Tamilnadu and Maharashtra.

Rajasthan has the highest solar power generation potential of any state in the country. The state recently surpassed Karnataka as the leading state in solar installations. Rajasthan’s operational solar power projects produced roughly 17GW of solar energy.

How much manufacturing capacity India has in terms of Solar Modules, Inverters, Cells etc and whats your anticipation in capacity addition in 2023

According to reports India’s capacity to manufacture solar modules, Inverter, Cells etc.. is around 38GW and is expected to reach approximately 95 GW by the end of the calendar year 2025.

What kind of growth do you see coming in the Residential Sector Demand

As India Government and also State Governments in India are very much aggressive for installation of Green energy, Residential sector is the best sector which can be focused for maximum reach for the usage of green energy. Government of india also had started National Portal for direct subsidy distribution to end users and also some state governments are running their own tenders to push this sector. So we believe that Residential sector will be always an attractive sector for solar integrators and consumers.

We express our sincere gratitude to our Business Partner, EPC, and End-users for their invaluable support, co-operation, and trust in us.With the strong back support of all these stakeholders, we have successfully delivered over 300Mw of solar inverters in India. Through a comprehensive and forward-looking business roadmap, we are strategically positioning ourselves to achieve sustainable growth in both current and future sales.

2. What is your target or anticipated business for this FY for India?

We are very much optimistic this year with our sale forecast of 200Mw+ and with our strategic initiatives and solid customer base we will contribute to steady growth and a successful year ahead.

3. What are your current products / technology / service offerings?

Currently we are offering on-grid inverters ranging from 1-25kW, 75-110kW, and hybrid inverters ranging from 3-10kW. Fox ESS is a company with a dedicated research and development team that continually aligns its innovations with customer requirements and market demands.

For instance, our Starfin heatsink claims a distinctive design, delivering a remarkable 30% better cooling performance compared to competitors. Its sleek aesthetics, user-friendly operation, in-built customer interface, and our unwavering dedication to quality makes our inverters strong competitors in our industry. Our product excels becauseofbrilliant engineering, top-tier components, dedicated monitoring system, 16 A current support and many other features which make our product unique in terms of appearance, touch, and display compared to other products.

Moreover, our complete supply chain and exceptionalengineering for all our products makes us the Top Brand globally.

4. Please tell us more about your company?

Fox ESS is one of the vertical of Tsingshan Group, a renowned Fortune Global 500 company and the leading producer of stainless steel globally. Moreover, the company holds the top position in nickel production and ranks fourth in lithium resources. As of 2023, Tsingshan Group boasts an impressive manufacturing capacity of 86 GWh for batteries and energy storage systems. These facts highlight the company’s exceptional prominence and accomplishments within the industry.

In just short span of 3 years, Fox ESS has made it to the Forbes China list of unicorn companies. We have a massive 12GW factory in Wenzhou, led by visionary management and an excellent R&D team, making us the preferred choice for customers worldwide. Our dedicated R & D team is continuously working to improve our technology and products. In the Indian market, we began by offering on-grid inverters, and now we provide on-grid inverters ranging from 1-25kW, 75-110kW, as well as hybrid inverters from 3-10kW.

We have a full production and supply chain that covers everything from smelting nickel-chromium alloys to producing battery materials, manufacturing battery cells, assembling battery packs, and producing on-grid and energy storage inverters.

Our efforts have been widely recognized in India and around the world, motivating us to continue working hard and striving for excellence.

5. What are the products launch plans in near future?

Fox ESS has made its mark as a global supplier, with a presence across the world. In India, we are providing an impressive inverter for the Commercial and Industrial (C&I) sector, ranging from 75kW to 110kW, along with hybrid inverters from 3kW to 10kW. These high-quality products are now readily available through our extensive network of business partners.

We now offer a diverse range of advanced products. This includes Lithium Battery Prismatic Cells, EV Chargers, Stackable Batteries, and exclusively, Micro Inverters, which were recently unveiled at the prestigious SNEC event in China.

6. What kind of growth do you see coming in the Residential Sector Demand?

The growth of solar inverters in the residential sector is expected to continue due to several key factors: Ongoing awareness of environmental issues and to reduce carbon footprints have motivated many to invest in solar energy. The Indian government also offer incentives, subsidies, and implementing policies to promote solar energy in the residential sector. These make solar installations more financially attractive to residential owners, boosting the demand for solar inverters. Furthermore, significant long-term cost savings on electricity bills, making them an attractive investment for residential customers.

As the industry continues to evolve, advancements in technology, changes in government policies, and environmental considerations will play significant roles in shaping the future of residential solar and the demand for solar inverters. As the residential solar industry grows, competition among solar inverter manufacturers has increased, leading to product innovation. The residential solar inverter market is expected to experience nonstop growth as more residential owners adopt solar energy solutions.

“We always has for long partnered with only the best product manufacturers. Fox ESS inverters are undoubtedly technically advanced, dependable and come with the most modern featuresand after sales service. We and our stake holders have been satisfied with Fox ESS for it’s the product quality and service.Technology superior inverter have better growth in Indian market.”

Pradeep Srikanthan – VP, Redignton Solar

“We are proud to be a channel partner of Fox ESS.The product is excellent, the service is exceptionaland they handle every aspect of it seamlessly.Their excellent customer support after the sale makes sure our customers are happy. We been delivering the products in Indian market fortwo years and Fox ESSIndiateam has given good support in all aspects. I strongly believe thatthat spending a bit extra onwell-engineered products is worthwhile as compared to some compromised product.”

Jay Bhatt – Director, Yuvaan Energy

“We very happy to work with Fox ESS. I receive all the necessary support from the company to serve my customers better. The product quality is outstanding, and their after-sales service is worth appreciating. Fox ESS inverter remains a reliable and efficient option for anyone seeking to convert solar energy into usable electricity. Their commitment to a long-term vision for the Indian market is what convinced us to become their partner. I believe that, brands with focus on good quality, service and long-term vision can surely survivein the Indian Market. Just offering products at lower value doesn’t assurance long-term success. Indian customers are becoming smart and are opting high-quality and technically advanced products, and this is where Fox ESS stands out.”

 Mr. Neveil Thakkar & Mr. Jay Thakkar

Ashok: EnerMAN IoT SCADA product ETi-SOL, monitors the performance of key equipment 24/7 with sampling frequency of 1 minute and notify thealerts / alarm on breakdown of equipment infew seconds. This will help Engineers/Technicians to attend the breakdown to reduce the loss of generation. EnerMAN provides analysis on Inverter ranking and Inverter downtime loss, this will help Engineers/Technicians to take corrective action to improve the performance of low performing Inverters and take preventive action to reduce the down time of Inverters. EnerMAN products will help in improving the efficiency / generation by more than 2%. Our products is deployed over 1.8GWp Solar plants which will directly contribute in generating more than 2% i.e 45 million units out of 2.25 billion units (18 MT of Co2 reduction or equivalent to nurturing 7.1 lakhs mature trees).

2. What are the key challenges currently faced by solar PV plant operators in India, and how does EnerMAN address these challenges?

Ashok: Reliable, affordable, end-to-end, easy to use, SCADA solution providers (quick supply and support service)to fulfil all regulatory compliance and remote monitor the performance of the Solar Assets is big challenge in India and in the world. EnerMAN trying to address these challenges.

3. Can you discuss the integration of AI and ML technologies in your products and how they enhance the performance of solar PV plants?

Ashok: EnerMAN IoT SCADA product ETi-SOL, monitors and analyses the performance of Inverters using AI and ML. The Analysis report with ranking of the Inverter performance based on various KPIs. This will help Asset Owners / O&M site Engineers/Technicians to initiate the comprehensive maintenance work to improve the low ranked Inverter performance, which will enhance the performance of Solar PV plants. EnerMAN provide analysis of Equipment downtime, keep track of equipment downtime throughoutits life time, which will help Asset Owners / O&M team to take timely preventive and corrective action reduce the downtime, which will enhance the performance of Solar PV plants

4. What trends and innovations do you anticipate shaping the future of the renewable energy industry, and how is EnerMAN preparing for them?

Ashok: Maturity and affordability in Energy storage technologies, EV, Green-hydrogen in coming years will increase the demand for Renewable energy in multi-fold. EnerMAN is planning to build many innovative productsmanage energyefficientlyand support emerging technologies/eco-system.

5. What is the long-term vision for EnerMAN in terms of global expansion and growth in India?

Ashok: EnerMAN aims to provide End-to-End innovate products manage renewable energy to decarbonise the world and achieve the net zero goal. Made in India products (hardware, firmware, and software) to global market at affordable price.

6. How do you see the role of government policies and regulations influencing the adoption of renewable energy and IoT technologies?

Ashok: Increase in the generation of renewable energy, which is highly variable in nature poses big challenges to scheduling of energy for distribution companies.  Hence government polices mandatesaccurate forecasting and stable supply of renewable energyinjection to the grid with localised control of renewable energy generation at each plant.

EnerMAN provides IoT products like Energy forecasting (ETi-CAST), Power Plant Controller (ETi-PPC), Zero Export System (ETi-ZES), Live generation data sharing with State Load Dispatch Centres (ETi-SLDC)to fulfil the regulatory compliance.

7. Can you share your perspective on the broader impact of EnerMAN’S work on combating climate change and promoting a greener future?

Ashok: Massive growth of Solar PV installation across the world faces big challenge of quality and skilled manpower available to manage the performance of Solar PV assets, Solar PV installation is distributed by nature, hence it is humanly impossible to manually monitor the functioning of all key equipment and assess the performance of each equipment to its expected /designed/ desired level.

EnerMAN products automates the Monitoring, Analysis and Reporting of the performance of key equipment on defined KPIs. This simplifies Solar PV asset owners / developers / EPC companies / O&M service provider in managing the increasing number / size of Solar PV assets using less manpower, low cost and with higherefficiently.

WAA Cables, India’s leading manufacturer, heralded as the catalyst for transformation. With an unwavering dedication to excellence and cutting-edge technology, WAA Cables offers exceptional cables and wires that surpass industry standards, embodying reliability, efficiency, and innovation.

WAA Cables Private Limited, an illustrious venture was forged in 2019, anchoring its headquarters in the vibrant city of Gandhinagar, Gujarat. Boasting an awe-inspiring manufacturing process, WAA cables – a multiple award winning brand, clearly differentiate from other players in the market when it comes to offer the world class cable solutions with highest quality assurance to the renewable energy and EV sector. “Our unwavering mission orbits around the commitment to stakeholders, while our visionary outlook aspires to provide top-notch cables and wires that exude both superiority and cost-effectiveness, ensuring the utmost satisfaction for their esteemed clientele”, speaks Mr. Ketan Vora.

The firm’s illustrious repertoire encompasses a captivating array of offerings, including Solar Cable, Flat Submersible Cable, House Wire, Earthing Cable, Welding Cable, Rubber Battery Cable, Aluminium/Copper Armoured&Unarmoured cable, and Flexible cable, among others. With the motto of ‘Connecting the Sun to Grid’, WAA cables solar segment delivers solar cables, solar connectors, ACDB & DCDB to all end users.

We are overjoyed to announce that WAA Cables Pvt. Ltd. has been honoured with the EN 50618 : 2014 certification by TÜVRheinland!! TÜV is a well-respected neutral inspection and product certification service that scrutinizes and regulates products of many highly technical industries. Receiving the EN 50618 Certification is an important milestone in WAACAB’s journey towards commercialization of our Solar DC Cables for photovoltaic systems and is an essential fundament of our commitment to our present and future customers for our high quality solar DC cables.

Upholding an unwavering commitment to quality, WAA Cables possesses an impressive collection of certifications, such as ISO, BIS, TUV, IEC, RoHS, CE, and EN50618, assuring customers of uncompromising standards.

How does export market looks like to yourself in 2023?

The export market of India for renewable energy in 2023 looks promising and lucrative, as India has emerged as a global leader in renewable energy production and consumption. India’s renewable energy exports have increased over the years, as the country has become a major supplier of solar modules, wind turbines, biomass pellets, and other green technologies to various markets around the world. This is driven by

1. Government Initiatives
2. Decreasing Solar Panel Costs
3. International Demand
4. Quality Standards
5. Bilateral Agreements

India’s renewable energy sector has attracted significant foreign investments, especially from countries like Singapore, Mauritius, the Netherlands, and Japan. The decreasing cost of solar and wind power has made them more competitive and affordable than coal-based power in most parts of the country. India has also launched several initiatives and policies to promote the use of renewable energy sources, such as the National Solar Mission, the wind energy program, the green energy corridor project, and the International Solar Alliance.India’s main export destinations for solar modules were the US, Europe, Australia, and Africa.

India is well-positioned to take advantage of increasing demand and opportunity and increase its share in the global renewable energy market. India’s competitive edge lies in its abundant natural resources, low-cost manufacturing base, skilled workforce, supportive government policies, and strong domestic demand. India can also leverage its leadership role in the International Solar Alliance and other multilateral platforms to expand its renewable energy cooperation and trade with other countries.

It’s important to note that the outlook for the export market can be influenced by various factors, including changes in government policies, fluctuations in global energy markets, and international trade dynamics.

What could be the major changes in renewable energy market in terms of major policy and regulatory announcements in 2022 like New Open Access Rules etc

Some of the major changes in renewable energy market in terms of policy and regulatory announcements in 2022 are:

1. Expansion of Renewable Energy Targets: Many countries and regions have been setting ambitious renewable energy targets to reduce greenhouse gas emissions. In 2022, governments may have announced new and more aggressive renewable energy goals, such as increasing the percentage of renewable energy in their energy mix or achieving net-zero emissions by a certain date.
2. Incentives for Renewable Energy: Governments often provide financial incentives and subsidies to encourage the adoption of renewable energy technologies. In 2022, new incentive programs, tax credits, or grants may have been introduced to support renewable energy projects and investments.
3. Grid Integration and Open Access Rules: Open access rules and grid integration policies can have a significant impact on the renewable energy market. These rules determine how renewable energy producers can access the grid and sell their electricity. In 2022, changes in these rules may have been announced to facilitate the integration of renewable energy sources into the grid.
4. Carbon Pricing and Emissions Trading: Some regions have implemented carbon pricing mechanisms or emissions trading schemes to incentivize the reduction of carbon emissions.
5. Environmental Regulations: Environmental regulations related to the construction and operation of renewable energy facilities, such as wind farms and solar installations, could have been updated in 2022 to address concerns about wildlife protection, land use, and ecosystem preservation.
6. International Agreements: International agreements and commitments related to renewable energy and climate change mitigation may have been announced or revised in 2022. These agreements can impact the global renewable energy market and promote cross-border cooperation.
7. Storage and Grid Resilience: Policies and incentives related to energy storage technologies, like batteries, and grid resilience measures might have been introduced or expanded to support the integration of intermittent renewable energy sources.
8. Decentralized Energy Generation: Regulations governing decentralized energy generation, such as rooftop solar panels and community solar projects, may have evolved in 2022 to promote consumer empowerment and energy independence.
9. Electrification and Transportation: Governments could have introduced policies to promote the electrification of transportation, which would increase the demand for renewable energy sources like electric vehicle charging infrastructure.
10. Green Bonds and Financing: Financial regulations and incentives to promote green financing, such as green bonds and sustainable investment practices, may have been strengthened in 2022, facilitating funding for renewable energy projects.

Whats your expectations from the Renewable Industry Stakeholders

My expectations from the renewable industry stakeholders are that they work together to achieve the common goal of increasing the share of renewable energy in the power sector and reducing the dependence on fossil fuels. Some of the possible ways to do this are:

• The Central Government should continue to formulate and implement policies that support the development of renewable energy projects (REPs) and provide incentives for private investments. The Government should also honor the power purchase agreements (PPAs) with the independent power producers (IPPs) and ensure timely payments for the electricity generated by them1.
• The State Governments should facilitate the establishment of solar parks and other REPs in their respective regions and encourage the citizens to install rooftop solar systems by offering attractive subsidies and net metering schemes. The State Governments should also coordinate with the Central Government and the State Electricity Companies (PLNs) to integrate the REPs into the grid and ensure grid stability123.
• The PLNs should cooperate with the IPPs and the biofuel producers to purchase electricity from renewable sources at competitive prices and distribute it to the consumers. The PLNs should also invest in upgrading their transmission and distribution infrastructure to accommodate the variable and intermittent nature of renewable energy12.
• The IPPs should adhere to the quality and safety standards of REPs and ensure their optimal operation and maintenance. The IPPs should also explore innovative ways to reduce the cost of renewable energy generation and storage, such as hybrid systems, battery technologies, etc14.
• The biofuel producers should comply with the environmental and social regulations of biofuel production and use. They should also ensure the sustainability and availability of feedstock for biofuel production, such as palm oil, jatropha, etc2.
• The fuel distributors should support the transition to renewable energy by diversifying their product portfolio and offering biofuels as an alternative to fossil fuels. They should also collaborate with the biofuel producers to ensure the quality and supply of biofuels2.
• The citizens should participate in the renewable energy movement by adopting rooftop solar systems, using biofuels for their vehicles, and raising awareness about the benefits of renewable energy among their peers. They should also demand clean and affordable electricity from their service providers3.

Whats your expectations from the Government, Policy Makers and Regulators as far as renewable energy sector is concerned

Renewable energy is a vital component of India’s energy transition and development goals. As the world’s third-largest energy consumer and one of the fastest-growing economies, India has a huge potential and responsibility to promote clean and sustainable energy sources.

Some of the expectations from the government, policy makers and regulators as far as renewable energy sector is concerned are:

• To provide a clear and consistent policy framework that supports the development and deployment of renewable energy technologies, such as solar, wind, hydro, biomass and waste-to-energy.
• To create a conducive environment for private sector investment and innovation in renewable energy projects, by providing incentives, subsidies, tax benefits, low-cost financing, land acquisition, grid access and power purchase agreements.
• To enhance the grid integration and management of variable renewable energy sources, by investing in smart grid infrastructure, energy storage solutions, demand response mechanisms and regional power markets.
• To address the social and environmental impacts of renewable energy projects, by ensuring proper consultation, compensation, resettlement and rehabilitation of affected communities, as well as compliance with environmental standards and regulations.
• To foster international cooperation and collaboration on renewable energy development and research, by participating in multilateral initiatives, such as the International Solar Alliance, the Mission Innovation and the Clean Energy Ministerial.

What kind of Solar Tariff Trends do you see coming in near future?

Solar tariff trends in India are influenced by various factors, such as the cost of solar modules, the availability of domestic manufacturing, the imposition of import duties, the demand and supply of solar power, the technology choices, and the policy environment. Some of the possible trends in the near future are:

• Solar tariffs are projected to increase by about 21% over the next 12 months, mainly due to the 40% basic customs duty on imported solar modules.
• Domestic manufacturing of solar cells and modules is likely to have a positive impact on solar tariffs, as it can reduce the dependence on imports and provide cheaper and reliable modules. However, a lack of availability of domestic modules will be a major challenge for developers.
• Technology will play a major role in maximising plant output and reducing tariffs. For example, bifacial modules along with single-axis trackers can achieve about 20% to 22% generation gain and partly compensate for higher tariffs.
• Policy clarity and stability are essential for ensuring low and sustainable solar tariffs. The central and state governments must provide clarity on the timeline and scope of application for duty on modules and also the Approved List of Models and Manufacturers.

In 2023, the Indian energy market is poised to undergo significant transformations across the utility, commercial and industrial (C&I), and residential sectors. These changes are driven by a combination of technological advancements, policy shifts, and evolving consumer preferences, all contributing to a landscape that is more sustainable, digitized, and decentralized.

In the utility sector, India’s commitment to renewable energy continues to gain momentum. The government’s ambitious targets, backed by supportive policies and incentives, are likely to result in a substantial increase in renewable energy capacity, in particular, solar and wind power. As renewable energy technologies become more cost-effective and efficient, utility-scale projects will likely proliferate. Moreover, advancements in energy storage technologies will play a crucial role in enhancing grid stability and reliability by mitigating the intermittency of renewable.

In the C&I sector, businesses are increasingly recognizing the economic and environmental benefits of transition towards sustainable energy sources. This shift is driven by not only the environmental concernsbut also the potential for cost savings and brand reputation. Solar installations on commercial rooftops and the adoption of energy-efficient technologies are likely to witness an uptick. Additionally, the concept of energy-as-a-service is gaining traction, allowing companies to outsource their energy needs to specialized providers, there by focusing on their core operations while meeting sustainability goals.

On the residential front, the distributed energy revolution is reshaping how energy is consumed and generated. Rooftop solar installations combined with energy storage solutions are becoming more affordable and accessible to home owners. This empowers residents to generate their own energy, reduce reliance on the grid, and potentially even feed excess energy back to it. Smart home technologies and energy management systems enable home owners to monitor and optimize their energy usage, fostering a culture of energy efficiency.

Q2: What are your current product / technology / service offerings?

At Growatt, we provide all-scenario solutions for global customers to embrace eco-friendly lifestyles while reducing carbon footprints. Our comprehensive portfolio of products and solutions include PV inverters, energy storage systems, EV chargers and smart energy management solutions, widely applied in residential, C&I and utility sectors.

Thanks to years of experience in R&D and a robust team currently comprising over 1100 professionals, we are able to quickly adapt to market trends and empower energy users with customized products and solutions. Our R&D team continuously introduces new upgrades and innovations in the energy efficiency, functional safety and intelligent solutions.

Growatt offer localized and customer-oriented services to our global customers through a network of 42 offices worldwide. Our dedicated customer support teams ensure timely sales, marketing, warehousing and technical service and support. Besides,our Online Smart Service (OSS) system enables installers, integrators and distributors to manage and maintain their solar plants remotely and intelligently for improved service efficiency and reduced O&M costs. So far, Growatt has set five representative sites in Hyderabad, Ahmedabad, Bangalore, Mumbai, New Delhi to offer localized service for Indian customers.

Q3: Visible Changes in Renewable Energy (RE) Industry w.r.t. Energy Storage, RTC, Hybrid RE Projects, Floating etc and their likely impact：

As I mentioned, the REindustry has been undergoing significant changes in recent years, with several emerging trends.

• Energy storage technologies have revolutionized the way renewable energy is integrated into the grid.The ability to store excess energy and release it when needed addresses the intermittency of solarpower, enhances grid stability by smoothing out fluctuations inenergy generation, reducing the need for immediate backup power sources. It also facilitates peak load management with higher levels of renewable energy penetration.
• Achieving Round-the-Clock (RTC) power generation from renewable sources is becoming more feasible due to advancements in technology and project design. This involves combining different renewable sources and energy storage to provide a continuous power supply, which addresses the variability of individual renewable sources, leading towards reduced carbon emissions and greater energy independence.
• Hybrid RE projects that integrate multiple renewable technologies or sources offer synergistic benefits and improved energy output.These projects efficiently utilize available resources, optimizing land use and infrastructure. By combining complementary renewable sources, they leads to a more stable and consistent energy output, reducing the effects of intermittency. Furthermore, hybrid projects diversify risk by not relying solely on one energy source, making the overall energy supply more resilient.
• Floating solar installations on water bodies have gained attention for their unique advantages including land conservation, improved efficiency and water management.Water cooling improves solar panel efficiency, increasing energy output and reducing degradation, and floating solar can help reduce water evaporation, making it beneficial for water-intensive regions.

Q4: As the REI Expo 2023 is approaching, what can we anticipate from Growatt’s presentation at the event?

Renewable Energy India (REI) Expo 2023 serves as a premier platform to display Growatt’s comprehensive range of clean energy solutions for the India market.

At the Expo, Growatt will display the MAX 100-125KTL3-X LV,designed for large-scale C&I solar power plants, breaks barriers with their unmatched power density. With the highest power rating for single units and string current capacity at 16A, they promise exceptional performance.

They are perfectly compatible with highpower and bi-facial modules, minimizing power loss and driving profitability. Additional functionalities like PID, AFCI, and PLC communication reduce costs and enhance solar power generation, directly impacting the Levelized Cost of Electricity (LCOE).

For the Indian market, Growatt presents the MAX 185-253KTL3-X HV 1500V string inverters featuring by easy installation, compact design, and up to 200% overload, which is tailored to ground-mounted and utility-based projects. These inverters satisfy diverse module preferences with 12 to 15 MPPTsand ensure a maximum efficiency of 99%. Notably, the MAX inverters are equipped with built-in string monitoring and smart I/V curve scanning.

The REI 2023 will highlight the NEO 2000M-X microinverter, an top-notch solution for Indian small balcony and rooftop PV installations. This innovative product combines safety, flexibility, and powerful performance in one system. We will also unveil the renewed MID 33-50KTL3-X2 inverter as well as the WIT storage inverter + APX commercial battery combo designed for C&I applications.

Join us at Booth 7.101 to explore our smart energy solutions and engage in lively discussions with our team.

We as a global company have lots of supply chain activities involved in production and we are also faced with difficulties during the covid lockdown period like all others, but we take this lockdown period as challenge and worked proactively with our Suppliers, Logistics partners and internal cross functional teams. We planned raw materials purchase both locally and imported during lockdown with the support of our suppliers and logistics partners. We followed government regulations strictly on social distance. Day to day we interact in meetings, understand situations outside, take necessary steps to achieve our target to complete the production and dispatches on time without any delays.

2. What kind of impact faced by Sungrow on BIS certification notification on raw materials / finished goods at the time of customs clearance?

Sungrow India has not much impacted due to BIS certification. The number of testing laboratories are not many in India for the variants or models that are offered by Sungrow, and it takes lot of time for getting BIS certifications. However, we have faced little difficulties in terms of customs clearance process. MNRE is very aware of the situation about testing laboratories in India and delays of getting certifications, So given exemptions notification on quarterly basis to customs which has supported us to custom clear our products using self-declarations

3. How was the impact on Imported FG Inverters because of 20% customs duty hike on BCD (basic Customs duty from 10% to 20%)?

The BCD Increase from 10% to 20% on inverters has impacted on sales majorly for all the Inverters suppliers. As we have seen, most of the customers are not ready to take the hit due to the extra cost of 10%. Fortunately, Sungrow have strategically planned to the local manufacturing facility in India which over comes this challenge easily and we are top in the competition where customers have shown interestin our Made in India inverters products. We are proud to say that we are contributing to “Atmanirbhar Bharat mission” as part of our Prime Minister top priorities in Renewable Energy industry and contributing to improve the Indian economy and providing clean power for all.

4. What is the Role of Logistics in Supply Chain Management?

The entire process of monitoring the transportation of goods and services from one place to its intended destination is termed as “logistics.” The term logistics was originally used to refer to the transportation of equipment to military armies on the ground.

However, in modern times, logistics is not just limited to its definition. It can shapeshift very easily to fit into the demands of an organization. It is more than just delivering the final goods to the consumers. The logistics department is also tasked with the responsibility of warehousing, managing outbound and inbound transportation, planning to meet demands, and handling materials. They are also in charge of inventory management, transport management, and fulfilment of orders.

5. What is the Difference Between Supply Chain Management and Logistics?

Supply chain management and logistics are two very different processes. While supply chain management is confined to the bigger picture, logistics is comparatively small.

a. Logistics is all about producing the goods in one organization and distributing them amongst the consumers who demand the goods.
b. Supply chain management, on the other hand, is a group of organizations that strive to distribute goods in voluminous quantities among their consumers. In this sense, it is a large-scale operation involving multiple moving parts.

6. What are the Main Challenges Related to the Supply Chain that Solar Companies are Currently Facing?

The supply chain is a vast and fruitful field, brimming with immense opportunities for exploration and experimentation. In the present competitive market, companies that do not invest in supply chain management end up paying a hefty price.

These companies fail to consider many crucial factors like:

a. Rising costs throughout the supply chain.
b. Consumer demands for improved delivery speed and customer satisfaction.
c. Volatile risks in the supply chain such as market fluctuations, trade disputes, etc.
d. The complexities of risk and cost management.

What is the opportunity in India currently ,—in terms of projects in tender , pipeline etc..opportunities in manufacturing etc .?

Opportunity in Renewable energy sector: The opportunity in India for Renewable sector projects and other alliedbusinesses like Inverter, Battery, Pump – Motor, cables and wires, Thermal etc and it’s manufacturing is huge right now asIndia’s energy demand is expected to accelerate faster than any other country in the coming decades due to its sheer size and enormous potential for growth and development.

Therefore, it is imperative that most of this new energy demand is met by low-carbon, renewable sources. India’s announcement that it intends to achieve net zero carbon emissions by 2070 and to meet 50% of its electricity needs from renewable sources by 2030 marks a historic point in the global effort to combat climate change.
With increased support from the Government inpolicies and economics – allocation of Rs. 19,500 Crore (US$2.57 billion) for a PLI scheme to boost manufacturing of high –efficiency solar modules. , this sector has become attractive from an investors perspective and working towards achieving goal to achieve net zero carbon emission.

Opportunity in Cables & wires Industry:

The domestic cables and wires industry has registered robust growth over the last five years led by the government’s focus on providing power to all and gradual pickup from the housing market. The wire and cables market in India has the potential to grow by USD 1.65 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.80%. The development of infrastructural projects by the government and investment is driving the growth of the wire and cable market in India.

What type of market do you anticipate in 2023 in terms of Utility / C&I, Residential?

Decarbonisation efforts have taken centre stage in India since our Hon’ble Prime Minister announced India’s Net Zero goals by 2070. India’s leadership of the International Solar Alliance has also brought considerable focus on solar energy. All this has resulted in a significant addition of Renewable Energy (RE) capacity in India in the last few years. However, as far as solar energy is concerned, the majority of the capacity addition has been in the utility-scale segment – large plants that supply green energy directly to the grid.

The Utility, C&I and residential sector struggled in 2022 due to rise in solar module import prices, and demand, which caused delay in projects. However, as government has introduced new policies to promote domestic manufacturing, this industry is hopeful for strong rebound in 2023. A key expectation in 2023 is from the Commercial and Industrial sector (C&I) sector. The sector is largely expected to pick a significant part of the slack from the utility scale projects that faced challenges of pricingor otheraspects.

As Commercial and Industrial (C&I) customers consume close to 50% of the power produced in India, thereby being the single largest segment. There are some major reasons driving C&I segment, like-

1. More awareness in the industrial segment about the environment impact of their operations and companies have started taking steps towards incorporating sustainable methods.
2. Fall in the tariffs of renewable energy, making it more clear for those industries which are energy intensive, to go for renewable energy as it helps them to save larger amount on their electricity bill.
3. Also, technological advancement and business model also helps in growth.
4. As India aims to increase its non-fossil fuel based power capacity to 50% of total capacity by 2030, more RE capacity will get added.

Which region or states looks most promising to you for 2023?

In India, several regions and states have shown significant potential and promise in the renewal energy sector. However, this Industry is dynamic and its development is subject to various factors such as government policies, infrastructure development, and solar resource availability.The top 6 states for installed renewable capacity in India are Rajasthan, Gujarat, Maharashtra, Karnataka, Tamil Nadu and Telangana.

The reason behind is their climate, state government initiative and improved policies, State and Central government’s approved budget and many projects for enormous capacity of solar energy production.

Rajasthan with 16.4 GW Installed Capacity, has the highest solar power generation potential of any state in the country. Rajasthan plans to install 30,000 MW of solar energy capacity by 2025. Whereas, Gujarat with 8.8 GW Installed capacity, has recently identified 1,00,000 hectares of wasteland in the Kutch district to build the world’s largest renewable energy park with a 30,000 MW capacity. This project would be a mix of solar and wind power. Maharashtra withInstalled Capacity 16 GW, has recently signed MoUs to add projects to generate 5,220 MW of renewable energy for Rs 41,000 crore

If we look at Southern India, Karnataka with 8.1 GW Installed Capacity,is the third largest producer of solar energy in India. Karnataka has 1,000 MW of projects in the queue. Tamilnadu having 6.5 GW Installed Capacity-has immense renewable energy potential, with access to sources such as wind, solar, biomass, biogas, hydropower, etc.The Tamil Nadu Generation and Distribution Corporation is planning to install solar power plants with a total capacity of 20,000 MW by 2030 and also planning to develop district level solar parks. India’s southernmost state Telangana with 4.6 GW installed capacity, ranks fifth in terms of solar power generation capacity. The state also chose a distributed solar installation plan, which has resulted in savings of almost 450 crores. The state is also home to the largest floating solar PV plant in India with a 100 MW capacity.

How much manufacturing capacity India has in terms of Solar Modules, Inverters, Cells etc and what’s your anticipation in capacity addition in 2023?

India has solar cell manufacturing capacity of approximately 4.7 GW as of September 2022. This is expected to increase by seven fold by the end of CY 2024.

India’s solar photovoltaic (PV) module manufacturing capacity exceeded 39 GW at the end of September 2022 and is expected to reach around 110 gigawatts (GW) by the financial year (FY) 2026, which will make the country self-sufficient.

As far as anticipation in manufacturing capacity addition in 2023, the positive market developments in the first months of 2023 promise another solar boom year, expected to result in 341 GW of newly-added solar to the grid, by the end of the year – equal to 43% growth. India’s cumulative module manufacturing nameplate capacity has more than doubled from 18 GW in March 2022 to 38 GW in March 2023. Compared to FY2022, Indian PV exports (by value) have already risen by more than 5x in FY2023. Between 2020 and 2023, the nameplate capacity for both cells and modules more than doubled in India. We estimate that the operational capacity for both cells and modules is between 50-60% for most manufacturers.

What kind of growth do you see coming in the residential sector demand ?

Power consumption grew 9.5 per cent to 1,503.65 billion units year-on-year in 2022-23, mainly due to higher demand amid a rise in economic activities, showed government data.

India has emerged as a major player in the global energy market, with the country ranking third in the world for primary energy consumption, according to the India Energy Outlook 2021 report by the International Energy Agency (IEA).

The residential sector has been a significant driver of solar energy demand in many countries, and it is expected to continue experiencing growth in the coming years. It can be influenced by factors specific to each market, including local economic conditions, utility regulations, consumer preferences, and government support. Continued innovation, favourable policies, and public awareness will play significant roles in shaping the growth of the residential sector’s demand for solar energy.

In the last financial year (2020-21), our solar Operations and Maintenance (O&M) portfolio reached a capacity of 3500MW. However, in the subsequent financial year (2022-23), our portfolio witnessed substantial growth, surpassing the 5000Mwp milestone. This expansion not only encompasses solar O&M plants but also includes wind O&M plants, further diversifying our renewable energy portfolio.

2) Target business for this FY year?

In the on-going financial year, our company has set a target of 7500MWp+ for the operation and maintenance (O&M) of both solar and wind energy. This ambitious target reflects our commitment to efficiently managing and sustaining a significant capacity of renewable energy sources, further contributing to the green energy revolution.

3) Professional Journey

I am Naresh Patel, the Director and Founder of Mitarsh Energy Pvt Ltd. With a rich experience of 20 years in the field, our company has established itself as a prominent player in the renewable energy sector. Our journey began with a focus on solar plant installation, where we successfully installed 200MWp+ I&C (Installation and Commissioning) work for ground-based projects and I&C work for rooftop installations.

Over the years, we have evolved and sharpened our expertise, and currently, we specialize in the operation and maintenance (O&M) of both wind and solar energy projects. Our dedicated team ensures the smooth functioning, efficient performance, and reliable operation of these renewable energy installations.

By shifting our focus to O&M services, we have recognized the importance of maintaining and optimizing existing infrastructure. This strategic decision allows us to leverage our experience and expertise in maximizing the output and longevity of wind and solar plants.

At Mitarsh Energy Pvt Ltd, we are committed to providing top-notch O&M services, ensuring the seamless operation of our clients’ renewable energy assets. Our extensive experience in the industry positions us as a trusted partner, delivering exceptional quality and reliability in the maintenance and management of wind and solar projects.

4) Company details, service offer launch plans for this year, our clients.

Mitarsh Energy Pvt. Ltd. (formerly known as MAX Energy Care) takes pride in its extensive client portfolio, consisting of leading names in the industry. With over 5000MWp+ of Solar PV Plants under our management, we have established a strong presence in the renewable energy sector. Our team, comprising 1050+ skilled engineers and technicians, is dedicated to providing comprehensive operation and maintenance (O&M) services.

we have successfully catered to renowned clients such as TATA Power, NTPC, Hero Future Energy, Avaada Renewable, Renew Power, Enerson Power, Greentech Renewable, Bosch Ltd, Torrent Solar Power, Gujarat State Electricity Corp Limited, Virescent (KKR Group), Aditya Birla, Honda Motorcycles & Scooters India Ltd, Honda Cars (India) Ltd, and many others.

Our expertise extends beyond O&M, as we possess significant experience in installing and commissioning Solar Power Plants totaling over 200 MWp. This includes the installation and commissioning of Solar Power Plant Battery Charging Systems, UPS systems, and Module Cleaning Robot Systems.

We also offer a range of annual testing services, including battery and battery charging system testing, transformer testing, switchyard testing, panel board testing, relay testing, PV analysis, drone thermography of Solar Mega Power Plants, and thermography of all equipment.

With our dedicated Spare Procurement and Supply department, we ensure the timely and competitive procurement of critical and genuine spare parts for our clients.

Moreover, we understand the importance of having a skilled workforce for O&M tasks. Hence, we offer manpower supply services, providing qualified personnel with expertise in wind and solar plant operations to support our clients’ O&M requirements.

Mitarsh Energy’s post-commissioning services encompass monitoring, operations, and maintenance support, delivered through tailor-made O&M packages. Our offerings include 24/7 site surveillance and support systems, earning the trust of our clients and project developers for the quality of our installations and O&M services.

As part of our business expansion, we are venturing into the setup, installation, commissioning, and AMC (Annual Maintenance Contract) of EV Charging Stations. In line with our commitment to sustainability, we have also ventured into the business of e-waste management. We actively contribute to the responsible handling, disposal, and recycling of electronic waste, ensuring that it is managed in an environmentally friendly manner.

1. How much business have you done last financial year in India

Year 2022-23 passed has been full of varied and challenging activities such as commissioning of new module manufacturing plant, aligning our business with policy changes. Despite of these challenges INA has achieved ever highest turnover of Rs 300 Crore.

2. What’s your target or anticipated business for this FY for India

Our turn over target for the year ahead 2023-24 is Rs 500 Cr through existing operations and diversified initiatives.

3. What are your current product/technology/service offerings

We are prominently a State of art Solar Module Manufacturing company covering entire range and technology being commercially deployed globally such as Mono / Multi / Bifacial / modules 40 Watt to 545Watt. Product range also covers Combo Solutions for small or critical power needs such Solar PCU, Batteries and Charge controllers. We do offer turnkey solar solution services for MW Scale projects& rooftop solar across the country.

4. What are the product launch plans for this year

We have recently commissioned 500 MW of fully automatic modules line and launched M 10 cells based 545 W+ modules along with bifacial modules. In the coming months we plan to launch 600W+ range of solar modules based on demand & commercial terms. We have another module line in pipeline for launching Topcon based modules

5. Whats ort of pricing roadmap,demand-supply gap you anticipate for this FY

Pricing has been dynamic over past decade and so as this year. I still see the consolidation of prices in Indian Market in this year. There could be less projects specially asking for DCR modules however the market shall have mixed requirement and truly challenging and competitive environment.

Indian manufacturing now is at its best in terms of quality and fast catching up its space in Global market.

6. Tell us more about your own professional journey, key learnings, key message from yourself

It has been a phenomenal journey for INA in last 6 years while being with my partner and promoter Mr Vikas Jain. We started with 60 MW line & the capacity has increased more than ten times within a short span. Our products & services have been well accepted & appreciated by our clients across various segments from utility scale to rooftop to distributed solar. Our focus has always been on offering quality based products. We keep ourselves abreast of latest technologies in the ever-changing environment. Anticipating market challenges and working with proactiveness is the key to success.

YoY manufacturing capacity, product range, geographical reach and stakeholders’ confidence has progressed very well with more than double digit growth.

7. Please tell us more about your company, directors in detail

INA has a consistent track record of profitable and sustainable operations over last six years. Company’s growth over last two years has been multi fold both in terms of building manufacturing capacity, product diversifications and geographical reach. Company’s products are compiled with specifications in the sectors such as Telecom, Defence, Railways& various other Departments.

Company board is most reputed board having industry leaders and mentors such as Dr AK Jain Ex MD REIL and Shri KS Popli Ex CMD IREDA. The Board carries with it years of experience and expertise in solar & allied sectors. The company is well positioned to be one of the most prominent leaders in the solar manufacturing sector.

Market Specific Questions

1. What is the Opportunity in India Currently…in Terms of Projects in Tender, Pipeline etc… Opportunities in Manufacturing etc…

India’s plan to install 500 GW (gigawatt) of renewable energy capacity by 2030.Of this about 300 GW is planned from solar. Currently our installed capacity is to the tune of 65 GW. This means to meet this ambitious target we need to add appr 30 GW of solar capacity every year. Apart from this since the world is looking at China +1 policy we should gear ourself for export opportunities as well. The demand is expected to be robust in the coming years. As far as manufacturing is concerned, India’s solar module manufacturing capacity is apprx 40 GW and is expected to reach 100 GW by fiscal 2026. There is plenty of scope in the cell manufacturing which currently is very modest at apprx 5 GW. Above all this we have practically nil wafer and silicone capacity.

2. What kind of market do you anticipate in 2023 in terms of Utility / C&I / Residential

The market is expected to be very promising in 2023. The major chunk is expected to come from utility scale segment. We expect 15 GW of utility scale projects in the current year. The rooftop segment is expected to be about 2.5 GW.

3. Which regions or states looks most promising to you for 2023

States like Rajasthan, Gujarat, Karnataka, Tamil Nādu & Telangana are flag bearers as far as installed solar capacity is concerned. We expect this trend to continue in 2023 as well given the current pipeline in these states.

4. How much manufacturing capacity India has in terms of Solar Modules, Inverters, Cells etc and whats your anticipation in capacity addition in 2023 Module capacity has reached to 50 GW and another 50 GW is under planning stage.

As discussed above the active module and cell manufacturing currently stand at 40 GW & 5 GW approximately. With the PLI scheme already announced by the Govt of India the figures are expected to touch 100 GW & 40 GW by 2025 for modules & cell respectively.

5. Visible Changes in RE Industry w.r.t. Energy Storage, RTC, Hybrid RE Projects, Floating etc and their likely impact.

The solar has been going great guns in India. We are sitting at a cumulative capacity of 65 GW as on date. With this there are hiccups as well in terms of lack of efficient transmission system, availability of generation at the time and place of requirement, availability of cheap land, grid instability etc . To address these issues the role of energy storage, hybrid RE projects, floating solar are the need of the hour. There are several benefits of solar storage, including storing excess energy for use during periods of high demand, reducing your reliance on the grid, and providing backup power in case of an outage. Similarly floating solar helps in efficient space utilization. These segments are expected to give further fillip to the solar sector.

6. What kind of growth do you see coming in the Residential Sector Demand

Rooftop solar is one of the very promising solar segments. However, the segment has not achieved the desired capacity additions. Various factors like lack of interest on the part of discoms, lack of availability of cheap funds, Centre- states relations, lack of uniformity in policies across states are some of the factors responsible for this. We are still very optimistic on rooftop solar given the excellent work done by the states like Gujarat, Maharashtra etc and the same can be replicated in other states as well.

7. Whats your expectations from the Government, Policy Makers and Regulators

Indian manufacturers have been working cohesively with Government & regulators for achieving 300 GW by 2030. The Govt has taken major initiatives in terms of PLI ,BCDetc to give a boost to domestic manufacturing capacity. The manufacturers understand the importance of quality and have appreciated the measures like introduction of BIS. However long-term policy vision backed up by the time bound execution is the need of the hour. Policy flip flops like ALMM extension creates uncertainty in demand stability. We expect the Govt to announce additional incentives for the SME sectors since they are the biggest job creators.

Covid-19 has taught us a hard lesson that dependency on external economies , at times, can become quite tricky. Hence, the momentum of a “Self-Reliant India” has picked up rapidly.The federal and state Governments are supporting solar manufacturing with an array of incentives and policy frameworks.

A new genre of manufacturers have joined the revolution wrt manufacturing alongside many lead players, thus, aiming to set up the entire value chain……From upstream to downstream – All under one roof !! When you witness large players like Reliance and Adani investing into strengthening the manufacturing base on Indian soil, this definitely casts a silver lining for other stakeholders and helps them in gaining even more confidence in the sector.

For now, the new PV manufacturing plans taking shape in India largely focus on the cell and module segments. Do you see ingot, wafer and polysilicon projects going ahead as well?

The future of the Indian PV manufacturing sector is bright. India is set to reach 110 GW of solar PV module capacity by FY 2026 with 72 GW of new manufacturing capacity coming online in the next three years. The significant jump will make the nation self-sufficient and the second-largest PV manufacturing country after China.

After India attains self-sufficiency in two to three years, the next course of action will be to compete for dominance in both quality and scale in the global PV module market.

The Production-Linked Incentive (PLI) scheme is one of the primary catalysts spurring the growth of the entire PV manufacturing ecosystem in India. Besides the augmentation of infrastructure in all stages of PV manufacturing, from polysilicon to modules, it will also lead to the simultaneous development of a market for PV ancillary components, such as glass, ethylene vinyl acetate (EVA), and back-sheets

While the PLI scheme is a supply-side measure, the government has also taken steps to bolster the demand side, thus, increasing the demand for locally made solar PV modules viz. PM – KUSUM Scheme and the Central Public Sector Undertaking (CPSU) Scheme.

If you don’t have these fundamentals in place, it can derail your mission. The stage is set though, but, it will take a little more time.

Alongside PV, we have seen a steady flow of big announcements on green hydrogen. Is this this is something you expect India to be a global leader in as well?

India has embarked upon a rather ambitious and robust Green Hydrogen mission of producing 5 MMT GH by the Yr 2030 that’d require 211 GW of Solar PV energy in addition to 1,41,000 hectares of land and 168 Bn liters of water. In the latest announcements, India is talking about installing 500 GW, but if 211 GW of that goes to green hydrogen, even this 500 GW may not be enough. Green hydrogen is a very hot topic, and it is on the top of Govt. agenda. Time will tell how far we’d reach, but, all I can say with confidence and conviction that India is moving in the right direction. And in India we are privileged that we have the capacity to bring 500 GW of RE installation online, so the country can also potentially sustain large-scale green hydrogen production as well.

Kindly elaborate on how the 7th edition of RenewX 2023 Expo will contribute towards the growth of the industry?

The 7th edition of RenewX is all set to showcase who’s who of the industry with large participation from domestic and few of the top global brands. Their presence on the exhibit floor will further boost the ambitions of State of Telangana and Southern region as a whole. The good news is also that in one of the recent report of Ministry of Statistics and Programme Implementation ( MoSPI ), the State of Telangana has ranked # 1 in Per Capita Income in Yr 2022 – 2023 surpassing all other states in the country. Besides a thriving Exhibition, there’re Knowledge-led Conference tracks deliberating the steps India needs to take next. The niche topic of AgriPV has found huge traction as it showcases the combined strength of Agricultural land coupled with array of Solar panel atop, thus economically helping the farming community besides generating clean electricity suiting their power needs concurrently.

One of the thriving element of current edition is “Industry Awards” which are destined to felicitate the Top Performers from each category, but, also encourage and motive industry to perform even better and shoulder India’s ambitious journey in coming years.

Going ahead, what are your future plans on growing and expanding the RenewX ?

Future plans will definitely be towards expanding the scope and scale of the event, incorporating new technologies and trends, new domains of RE sector and increasing participation from domestic and international players.