Cosmic Aims To Tap Offshore Market To Offer OEM Services: Shravan Gupta, Cosmic PV Power

Cosmic Aims To Tap Offshore Market To Offer OEM Services: Shravan Gupta

How has the journey of Cosmic been in the last two years?

In the last two years, our journey was quite fascinating. We are growing at a 100 percent growth rate. The growth rate was even higher when the Approved List of Module Manufacturing (ALMM) provisions were in place which safeguarded the interests of Indian players like us. 

Are you planning to introduce some new technologies?

Our business and technologies are often crafted based on the demand from our consumers and client partners. With our existing plants we were confined to producing polycrystalline and mono-PERC solar modules. Now with our expanded plant, we have planned to manufacture-half-cut cells, TOPCOn and even HJT. We are ready with the technologies and required technical acumen. As soon as we see the demand, we will start producing the same and offering it to our clients.

What difference do you see as a manufacturer when it comes to TOPCOn and HJT?  

Currently in terms of investment, mono-PERC is cheaper than TOPCOn. When the market favours and the rates become more viable commercially, we will produce TOPCOn too. It requires a little bit of extra investment and could cost the clients 20 percent more than mono-PERC. However, making modules with HJT technology requires different cell lines that would demand more CAPEX. 

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Which states seem to work well for the solar industry in the coming days besides Rajasthan and Gujarat?

In South India, we already have a good demand but many manufacturers are unable to tap the market yet. Maharashtra and Uttar Pradesh (UP) also have good potential. It is mainly due to the supportive policies in these states. The retail demand in Maharashtra is rising due to the good upfront subsidies which states like Gujarat offered earlier for its rooftop segment. UP offers special market due to the large population. As soon as more subsidies start to flow in the state, the deployment of solar will increase manifolds soon in UP. 

What is the USP of Cosmic? 

Cosmic had been known in the country as a premier OEM partner for module manufacturing. A lot of domestic players use our services to make modules and bolster their business. We have been able to create a good brand name in this sector under the OEM segment. We are also targeting the C&I segment. In the last six months we have also expanded and have been able to make a good network of dealerships across the country. Currently around 15 players in the country are using our services as an OEM partner. 

How much threat do you see from the cheaper Chinese modules? 

Cheaper Chinese modules are not only a concern for Cosmic but for the entire Indian domestic module makers. The Indian government has now mandated DCR modules which raises the cost of total production. There are very few players in India who make cells in India, so there is a dependency on countries like China for solar cells. If the government wants to boost local solar module manufacturing, they need to reduce or cut down the BCD on solar cell imports. 

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What are your future plans?

Till now we have been able to establish ourselves as the premier Indian OEM partner. We can make modules as per the customer demand. We have the acumen, technology and manpower. We are now planning to tap the offshore market where we can partner with foreign companies to offer our OEM services of module manufacturing.