The driving force behind Vikram Solar, Mr. Gyanesh Chaudhary appeared in an exclusive CNBC feature on 28th January 2017, providing a detailed scenario of the Indian solar sector and the journey of Vikram Solar in the last decade.
Vikram Solar was incorporated in 2006 and hasn’t looked back since. How do you think solar power has evolved over the past decade and what do you make of the current installed capacities? In your view, what more can be done? What are the challenges you face?
When Vikram Solar started in 2006, India had not yet realised the immense potential of solar. The Government support, flurry of policies, supportive incentives, and industrial development opportunities that we see today, didn’t exist back in the day.
Today the industry looks a lot sunnier. The disruptive potential of solar energy is not hidden from the world today. In the middle of this energy revolution, alternate energy is undergoing a transformation and becoming ‘mainstream’. As a responsible and one of the leading manufacturers, Vikram Solar realises the need to constantly innovate and come up with disruptive offerings to meet the demands of an ever- growing and energy starved market.
From 2006 to 2010, India’s cumulative grid connected solar power generation capacity grew to a meager 18 MW. But, we trusted the growing global acceptance of solar energy and stood firm upholding our dream. With The Jawaharlal Nehru National Solar Mission (JNNSM), that established a 20 GW by 2022 target for Grid Connected Solar Projects, Vikram Solar anticipated the changes and stepped in international EPC business in 2010. The real game changer in the Indian scene took place in 2015 with our Hon’ble Prime Minister, Shri Narendra Modi’s, 100 GW by 2022 solar target announcement.
Incentives, easy land allotment, financing, and subsidy options/policies came to support the target. It was a game changer for the industry, and brought new opportunities for manufacturers like us. Prime Minister Shri Narendra Modi took another decisive action, launching Make in India campaign. It brought more investment, job opportunities, and a platform for technology up gradation in the solar industry.
In just a decade’s time, Vikram Solar has contributed to shaping the solar revolution, not only in India, but across continents. We managed to claim presence across 32 countries, and started expanding at a rapid scale. Vikram Solar is proud to be India’s only Tier 1 PV module manufacturer, and our products are designed to the highest standards of quality, reliability and performance. In 2011, we also ventured into solar EPC, wherein we deploy world- class technology to design, install and commission solar projects worldwide.
With projects as unique as India’s first floating solar plant to benchmark projects like India’s largest rooftop airport solar plant, we have a swaggering portfolio in a short span of time. Incredible solar growth in India has helped us to contribute to its current 8.06 GW installed capacity. We believe, besides handling these problems, more focus on domestic manufacturing capacity enhancement is required to make India a solar energy super power.
To become globally competitive in the solar sector, and to control the quality of solar equipment within the country, India needs to support domestic manufacturing just like leading countries- China, and USA have seen fit to do. We also believe closer industry-government cooperation can solve problems and keep us to the path to achieve scale.
For a detailed audio visual round of the highly appreciated interaction, Please click below: