India's solar capacity reached 6,000 MW in 6 yrs

The Dollar Business Bureau

India is likely to become one among the top global installers of solar energy with an existing capacity that reached 6,000 MW from 10 MW over a period of six years, said Gyanesh Chaudhary, MD and CEO of Vikram Solar Pvt Ltd. He said that the government's International Solar Alliance (ISA) proves the strong commitment of the country towards the solar energy sector.

India has already achieved the position in the top five solar installers in the globe. With an increased solar capacity of 6 GW, the country can surely become one of the biggest solar installers in the world.

'Make in India' programme and the National Solar Mission are the two government initiatives that can help the sector succeed in achieving its goals, Chaudhary said in his recent visit to the UK.

Vikram Solar is committed to the ambitious target of the Indian Government’s National Solar Mission to achieve 100 GW installed solar capacity by 2022. The company is one among the largest solar energy companies in the country with more than 0.5 GW of installed solar capacity, he said. The Kolkata- based company has operation in 32 plus countries.

The company is the biggest exporter of solar panels from India to the UK. According to him, all the leading developers are importing panels from this company. The US, Japan and the Middle East are some of the other countries that import panels from them. This is the only Indian solar panel manufacturing firm exporting to Japan, which demands high quality products, Chaudhry said. The company is targeting to achieve $1 billion revenues by 2020. Vikram Solar claims to have orders worth more than $3 million. It also plans to go for the capital markets very soon.

India has launched ISA during the Paris Climate Conference in December 2015 with solar energy rich nations as its members. The ISA intends to create a platform for increased usage of solar energy technologies for sustainable development and better living opportunities.