Hartek Power bags over 1-GW solar grid EPC projects in 2016-17, records 733 pc increase in order size
Having exceeded its target of connecting 500-MW solar projects to the grid, Hartek Power, one of India’s fastest growing Engineering, Procurement and Construction (EPC) companies based in Chandigarh, has bagged 1,025-MW solar grid EPC orders in 2016-17, thus registering a phenomenal increase of 733% as compared to the company’s order size in the previous year when it had secured just 123-MW orders. The 1,025-MW solar grid EPC projects won by the company, which mark an eightfold increase as compared to the company’s order size in 2015-16, include 30 substation projects of up to 220 KV spread across 10 states, including Punjab, Rajasthan, Telangana, Karnataka, Maharashtra, Uttar Pradesh, Delhi, Madhya Pradesh, Chhattisgarh and Bihar. Specialising in executing high-voltage turnkey substations and power infrastructure projects, Hartek Power will provide complete turnkey solutions for these projects and execute post-inverter works covering the design, engineering, supply, installation, automation and commissioning of the power plant electrification.
“Aggressively capitalising on India’s solar overdrive, we have prevailed over many big players to bag these orders. Given the favourable market scenario, the proactive approach of the government is pushing solar power and our unmatched expertise in connecting solar projects to the grid, we have surpassed the 500-MW target quite smoothly,” said Hartek Power Chairman and Managing Director (CMD) Hartek Singh. Having connected 340 MW of solar power to the grid in 2016-17, Hartek Power has commissioned substations for 598-MW solar projects so far. In contrast, the company had executed just 123-MW projects in 2015-16. Incidentally, Hartek Power has executed more projects in 2016-17 than the previous three years put together. The company had connected 258 MW of solar power to the grid till 2015-16.
Hartek Singh, however, said Hartek Power would continue to be selective about the orders it chooses. “Known for our commitment to quality and timely execution of projects, which has won us the trust and admiration of key developers in the Indian solar space, we will take up an order only when we are sure about delivering it in time with no compromise on quality whatsoever,” he said. A 100-MW order of 220-KV class in Telangana is the most prestigious project bagged by Hartek Power this year. The pan-India company, which has a presence in 17 states, is also aggressively eyeing business opportunities in states with vast solar potential like Jharkhand and Madhya Pradesh. Hartek Power is especially focusing on consolidating its position in South Indian states like Andhra Pradesh, Telangana and Karnataka, which offer immense business opportunities in the form of bigger projects, as well as traditionally well-performing states like Rajasthan. “While tapping business opportunities in the three southern states, where 3-GW tenders are under execution, we are also expanding our operations to new geographies like Jharkhand, which closed the bids for 1.2-GW projects in 2016-17. At the same time, we will further strengthen our hold in states like Punjab and Uttar Pradesh,” said Hartek Singh.
As a backward integration strategy, the Hartek Group also has its own manufacturing division, which makes power distribution products catering to its own projects and to the requirements of industries, utilities and independent power producers, like medium-voltage switchboard panels, control relay panels and low-voltage panels. The economies of scale of this manufacturing business have been immense for Hartek Power and its EPC portfolio with appreciable improvement in supply chain and considerable reduction in costs. Hartek Power is part of the billion-INR Hartek Group, which contributes significantly towards the entire power sector value chain through its diversified portfolio covering Power Systems, Rooftop Solar, Power Distribution Products, Fuel Services and Value Added Services. India’s installed solar generation capacity has gone up by more than four times from 2.5 GW to 10 GW in less than three years, offering huge opportunities for growth to firms like Hartek Power.