What is your view on the growth witnessed by the PV Module market in India in recent years? How do you see the market moving ahead during the current financial year?
The market has grown fabulously. Since the inception of National Solar Mission, the Solar Market in India has observed a slow but steady growth. In 2009-2010 there was a common target for all manufacturers of Solar Modules to supply their product to the European market and especially to German and Spanish Market. Now India has set a target to of 100Gw by 2022. The domestic demand has augmented manifolds. 2016-17 and 2017-18 were the base year to take off, because of some internal and external issue it could not reach its zenith. It can be well remembered that getting orders in Kw level was a mammoth task. Whereas, now negotiation of Mw scale business has become a common phenomenon. Keeping close monitoring of the market potential we Sova Solar Ltd. has set a target to expand our production capacity to 1GW by 2020.
Though this is the year of election, but our expectation is on a higher side. In their last full phased fiscal budget before the 2019 Lok Sabha Election the Honourable Minister of Finance, Shri Arun Jaitley has taken some initiatives which are well planned to boost up the rural infrastructure and the total Renewable Energy sector as a whole. So, the current year growth is expected to be intact.
Briefly tell us about your company and its key offerings in solar space? Also, brief us on the module technology & efficiency features and your manufacturing capabilities?
Sova Solar Ltd. was a venture from such a group which was involved in the Steel and Allied Industry. Mr. Subrata Mukherjee, CMD, Sova Solar Ltd., had taken initiative to venture into the Green Energy business where he had the passion to make the earth a pollution free domain. Late Sova Mukherjee, was the mother Shri Subrata Mukherjee and company name originated from her first name.
Sova Solar Ltd. Had started its journey in the financial year 2010-11. That time it was commenced with an installed production capacity of only 12.5Mw p.a., with technology support from SPIRE Corporation. Now the annual installed capacity of Sova Solar is 200 Mw. Ambition is to grow up to 1Gw. We, Sova Solar have introduced 4BBmodules in India. In the case of 5BB (bus bar), we are the harbinger. Our customers feel comfortable with our modules for Government based projects. We a grateful to all our associates, direct and indirect.
How do you look at the competition in the market? What has been the company’s cumulative supply (MW) of module in India till date? What is the USP that helps you to stay ahead in the market?
There is a tough competition in the market. No company leaves any opportunity to catch a single order. The competitors from foreign origins are throwing more challenges in the market. The challenges are always welcome and that should be reign in but on the basis of the stable quality standard of product. Minimising the price by compromising the quality is not acceptable. Till date, Sova Solar has supplied more than 200 Mw of Modules cumulatively in the domestic market and 25-30 Mw to the export market. Our customers are happy to use our modules in tariff-based projects where extra generation gives more mileage. Our USP is to energize TheFuture with Right Quality of Module at a Right Price. Sova Solar is in the approved vendors’ list of L&T, BHEL, NTPC, BEL, ONGC, etc. This is an indicative list, not the exhaustive one. And all of them are very quality conscious.
How do you look at the growth in the rooftop segment? What are your plans for tapping the opportunities in rooftop segment over coming years?
The expectation was high but awareness amongst the citizens are less. SECI had taken a very good initiative by the way of tendering for 1.5GW Solar Roof Top projects. But unfortunately, the total initiative went into vain. The rooftop projects in India have to be made more popularize and for that more and more awareness programmes have to be introduced. We are mapping out the opportunities of rooftop market and framed a plan to reach every nuke and corner to achieve the maximum share in this segment.
Where do you see Sova Solar in the Indian market by 2020?
Sova Solar has already won the heart of its customers due to its’ good quality and most competitive price. Our target is to energise the future of every Indian roofs with Sova Solar Modules. We want and rather love to serve the country and the universe in a better way through our supreme quality modules.