Mahindra group is all set to bring Solar Power into the main power generation scene and as a part of this initiative, they are planning to set up 500MW of Solar PV Capacity within the next 2-3 Years.
Currently Mahindra has set up 5 MW project in the country and also setting up other 33 MW of Solar Projects, which is also part of JNNSM.
Rural Solar, the way forward believes Mahindra
We are looking at off-grid products using solar in
rural areas, and we believe that solar products can replace or
supplement several applications which currently run on gensets,” said
Parag Shah, Managing Partner at Mahindra Partners & Head of Mahindra
CleanTech .
The company is also looking to leverage strong presence of the group in
rural areas. Mahindra & Mahindra has extensive distribution in
villages across the country owing its tractors and farm equipment
business.
The company's off-grid solar business will also include solar products
like solar irrigation pumps, solar lights, solar water purifiers and
lanterns. “We have already launched two products and working on other
products,” said Shah.
Apart from its products and being a grid producer of solar power,
Mahindra is also looking to orders to execute engineering, procurement
and construction (EPC) of solar power. For its group's electric car, e20
too, they are looking to set-up solar power charging points. This is
being treated as a pilot project.
It has also recently received a bulk order from an undisclosed telecom
tower company to provide solar power to towers which are now run by
diesel. “In addition to being green, using solar power can also cut down
a lot of pilferage,” said Basant K Jain, Chief Executive Officer of
Mahindra EPC & Solar. The EPC company has already set-up as much as
65 megawatts and hopes to bag orders to execute as much as 600-800
megawatts in three years.
Jain says that there are many such opportunity where companies and
organisations are looking for expertise to set-up and maintain solar
power projects. “Real market is in the rooftop. Solar power on grid can
see saturation or might have land constraints, but not for rooftop,”
said Jain.
However, the price structure for solar power on rooftops could be higher
as it requires certain amount of customisation for each product. But
many corporates which have green agenda like public sector utilities,
institutions and corporates too are looking at solar. The group's real
estate venture, Mahindra Life Spaces might be looking an extended
rooftop projects.
“There could be microgrids in rural areas as well,” said Jain. The
opportunity only for EPC in solar could be as high as 1,000 megawatts in
another three years.
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