Jakson Group, which has been a familiar name in the genset manufacturing business, is diversifying into solar manufacturing and electrical EPC segments. The company plans to invest Rs 700 crore in the next three years in building solar module and cell manufacturing capacities. It is also keeping a track of developments in the high-potential power storage market. In an interview with Anupam Chatterjee, Sandeep Gupta, vice-chairman and MD, Jakson Group, believes that the contemporary convolution in the solar industry would soon pass, bringing a conducive business environment for domestic manufacturers. Excerpts:
What are your views on the solar industry where you want to strengthen your presence?
There is a total chaos is the industry. There are proposals of safeguard duties. The industry is getting the impression that various departments of the government are not working in sync. This is adding to the confusion. But I believe these issues would be resolved over a year or so and we will see real growth in the sector. There were very few solar auctions and tenders last year, hampering the growth of EPC and manufacturing companies in the sector. But recently, there has been a surge in the announcement of Central government solar auctions. This instils hopes about the sector. But, looking at the current capacity of 20 gw, the target of having 100 gw solar power capacity by 2022 seems outlandish.
In this bleak scenario of the sector, do you still stand by your target of increasing your solar manufacturing base? Read More…