Renewables To Be Key Focus For Tata Power: CEO
Tata Power Solar has ramped up the scale of business by focusing on building technology, engineering and strengthening on customer & employee satisfaction.
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India's largest integrated solar company Tata Power is going to continue its focus on renewable energy sector and plans to ramp up its scale of business.
In an official statement, Anil Sardana, CEO & MD, Tata Power said, “Considering the fact that solar EPC (engineering, procurement and construction) 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.”
Tata Power Solar has ramped up the scale of business by focusing on building technology, engineering and strengthening on customer & employee satisfaction. Tata Power Solar increased its revenue for financial year 2017 by over two and a half times in two years to reach Rs 2262 crore, added the company.
“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,“ says Ashish Khanna, Executive Director & CEO, Tata Power Solar.
Tata Power Solar, in its effort to encourage domestic manufacturing, made significant expansion and modernisation of its cell and module facility in Bengaluru. The second expansion within 2 years doubled the company’s module capacity to 400 megawatts, and increased its cell manufacturing capacity by 65 percent to 300 megawatts.
The company further mentioned, in the statement, "One of the ways Tata Power Solar achieved these financial successes was through focused and diligent cost management. A testimony to this is the fact that the Company added limited cost overheads during this period of hyper growth."
Tata Power, together with its subsidiaries and jointly controlled entities, has an installed gross generation capacity of 10,613 megawatts.
Recently, the company manufactured customised modules for a prototype solar car designed by students of Manipal University, named SERVe.