Tata Power turns around solar business to become India's largest integrated solar company
Tata Power Solar increased its revenue by more than two and a half times in just two years to reach Rs. 2262 crore.
The focus on efficiency and quality coupled with leveraging technology and innovation has helped the company to implement several challenging projects. The company, with a view of long-term objective, significantly increased focus on EPC, where it had built strong competencies Tata Power Solar has also been the biggest rooftop player for 3 years in a row.
Tata Power Solar, in its effort to encourage domestic manufacturing, made significant expansion and modernization of its cell and module facility in Bengaluru. The second expansion within 2 years doubled the company’s module capacity to 400MW, and increased its cell manufacturing capacity by 65 per cent to 300MW. The efficiency level of the cells and modules coming out of these lines are among the best in the world.
Commenting on the achievement,Anil Sardana, CEO & MD, Tata Power said, “We are happy to see our team responding to Government of India’s call of ‘Make in India’. Considering the fact that solar EPC is extremely low margin and the pressures faced by the domestic manufacturing sector, the company has turned profitable within a short span, which is a remarkable achievement. Renewables will continue to be our key focus whether it is generation or manufacturing business. It is encouraging to see all our businesses coming together to achieve the ultimate objective of being the largest integrated player”.
“The journey has just begun for India’s solar sector and opportunities as well as challenges are galore. While there are some bottlenecks like decreasing unit cost driven by reverse bidding and influx of cheap and subsided imported panels, solar sector continues to be a key sunrise sector with a potential to make a significant and tangible socio-economic and environmental impact. With a right blend of experienced rich team and innovative solutions, Tata Power Solar is poised to maintain and enhance its leadership position “says Ashish Khanna, ED & CEO, Tata Power Solar
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