Tata Power Solar today 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 art technology, engineering and strengthening on customer & 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.
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 2 years doubled the company’s module capacity to 400MW, and increased its cell manufacturing capacity by 65 per cent to 300MW, it added.
Tata Power CEO & MD 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.