Tata Power Solar revenue doubles to Rs 2,262 crore

Source : Business Standard 30 May 2017

Tata Power Solar on Monday said its revenue has increased by more than 2.5 times in just two years to reach Rs 2,262 crore.

The company said it has ramped up the scale of business substantially by focusing on building state-of-the-art technology, engineering and strengthening on customer and employee satisfaction.In a statement, it said the focus on efficiency and quality, coupled with leveraging technology and innovation, has helped the company implement several challenging projects.

The company, with a view of long-term objective, has significantly increased focus on Engineering Procurement Construction (EPC), where it had built strong competencies.

 Tata Power Solar has also been the biggest rooftop player for three years in a row, the statement said.

 Tata Power Solar, in its effort to encourage domestic manufacturing, made significant expansion and modernisation of its cell and module facility in Bengaluru, it said.

The second expansion within two years doubled the company’s module capacity to 400 megawatt (Mw), and increased its cell manufacturing capacity by 65 per cent to 300 Mw, it added.

Tata Power chief executive and managing director Anil Sardana said, “Considering the fact that solar EPC 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.”

Tata Power Solar ED & CEO Ashish Khanna said that 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.

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