The company is making an investment of Rs 700 crore in the new solar module manufacturing plant in Gujarat.
The Noida-based Jakson group plans to increase its solar manufacturing capacity to 1.5 gigawatts by 2020 in line with the government’s objective of achieving 175 GW renewable power generation by 2022. The company, that has a railway contract for equipping trains with solar panels, did a successful pilot recently for a DEMU in Delhi.
With the increase in its module capacity and a foray into solar cell manufacturing, the company wants to position itself as an energy and engineering company, said Sameer Gupta, chairman and managing director, Jakson group. Though the company diversified into solar business in 2010, power back-ups and diesel gensets still comprise a large part of its revenue. About 40 per cent of its Rs 2,700 crore revenue comes from PowerGen and distribution business where it is a leading player.
This business comprises manufacture and sale of Cummins powered gensets, their installation and maintenance. Solar modules contribute another 44 per cent while the remaining comes other businesses which include EPC and defence retrofitting.
The company is making an investment of Rs 700 crore in the new solar module manufacturing plant in Gujarat. According to Gupta, the investment would be made in two phases. In the first phase, the capacity of 500 MW of solar modules would be set up. In the second phase, another 500MW of solar module manufacturing and 250MW of the solar cell would be set up.
The total capacity would 1GW of modules and 250MW of cells. It currently has 70 MW of capacity at its Noida plant for manufacturing mono and polycrystalline modules besides an installed capacity of 500 MW of module mounting structures.
On whether the influx of Chinese solar components was a challenge for players, like them, especially in a falling tariff regime, Gupta said, “The rates were competitive. The market is able to absorb products across the price range.”
Gupta said they were also targeting the export market, which includes countries in the West Asia and Africa for EPC business. They have already appointed 12 dealers for selling modules and offer retail solutions in the export market.
The group also owns and operates three solar independent power plants with a total installed capacity of 60 MW. It plans to scale up its solar IPP portfolio to 500 MW in India and the overseas market.
In July, the Railways flagged-off the first 1600 HP Diesel Electric Multiple Unit (DEMU) coach equipped with solar-powered hotel load system installed and commissioned by Jakson. The installed solar rooftop system generated 7200 KW of energy per year per system which is used for powering internal lights, fans and other electrical systems of the coach (hotel load).
The project will help offset carbon emissions by 9 tonnes per coach annually and also save about 21,000-litre diesel for a solar-powered DEMU with six trailer coaches, thereby bringing cost saving of Rs 12 lakh every year to the Railways.