Hartek Power targets 500 MW of solar projects this fiscal year
Hartek Power, a solar EPC solutions provider, has built a strong portfolio of solar projects in the country, and expects to cross 500 MW of installations by March.
Hartek Singh, Managing Director of the 25-year-old company engaged in power sector contracts, told BusinessLine: “If the current growth momentum of the solar power projects in the country is any indication, we will have a portfolio of 1 GW by the next financial year.”
“The company had implemented projects with total capacity of 258 MW as of March 2016, and this number is set to see the addition of about 500 MW this financial year, of which Andhra Pradesh and Telangana will add 150 MW. By next year, we will have a portfolio of 1,000 MW, and of this, we aim to implement about 500 MW in AP, Telangana and Karnataka,” he said.
With expertise in connecting solar power projects to the grid, the MD said: “We will significantly consolidate our business as the country aims to achieve 100 GW by 2022. Though about 8,000 MW has been installed so far, this number will rapidly go up as more States encourage grid connected solar projects.” The company is considering adding another manufacturing facility for switches and panels in Punjab.
“A total of 3 GW tenders are under execution in Andhra Pradesh, Telangana and Karnataka. South India is the fastest growing solar destination and our target is to secure solar EPC orders for at least 500 MW projects from AP, Telangana and Karnataka in 2017-18, on the lines of our latest success in Punjab – where we have bagged half of the 500 MW orders,” Singh said.
The company had connected a 50 MW solar project to the grid in Anantapur district of Andhra Pradesh, in March. The company plans to open an office in Hyderabad to serve the market in the Telugu States.
Hartek commissioned substations for 20 MW solar projects and is executing another 90 MW, including a 50 MW project in Ittagi district in Karnataka. In Tamil Nadu, the company plans to focus on rooftop solar projects.