Betting big on the solar power push by south Indian states, particularly Andhra Pradesh and Telangana, Chandigarh-based solar EPC player Hartek Power is gunning for 1GW of total installations by the next financial year, the company’s managing director Hartek Singh said here on Thursday. Of these, 500 MW will from southern states alone, he added. Hartek Power has installed substations for 258MW solar projects as on March 31, 2016, since it entered the business three years ago. Of this, 70MW came from south India.
“A total of 3GW tenders are under execution in Andhra Pradesh, Telangana and Karnataka, presenting a huge business opportunity. Our target is to secure EPC orders for at least 500MW from Andhra Pradesh, Telangana and Karnataka in 2017-18 on the lines of our latest success in Punjab where we have bagged half of the 500MW orders on offer,” Singh said. The company is part of diversified conglomerate Hartek Group that clocked revenues of Rs 150 crore last fiscal. Of the total revenues, Rs 75 crore was contributed by Hartek Power alone.