We are exploring USA, Europe and Africa markets for exports too: Hiten Parekh, CBO, Navitas Solar

Hiten Parekh quits Navitas Solar to join O2 Power

Surat-based solar module manufacturing company, Navitas Solar has onboarded Hiten Parekh as its Chief Business Officer. Parekh’s professional experience includes 24 years spent in both India and abroad in various industries. He has ten years of industry experience in the solar sector. His perseverance in the solar industry, has earned Parekh the reputation of top 40 leaders under 40. He is also considered among the top 100 solar industry leaders in India. In January 2020, he won the Grand Master Award at India Solar Rooftop Congress as a Young Achiever of the Year. Parekh speaks about Navitas and its ambitions.

Hiten Parekh, CBO, Navitas Solar

At the outset, what are the key business goals you have for Navitas Solar. How do you plan to achieve them?

The business ambition is to achieve profitable 10x growth. We will get there by offering transparency, proactive customer service, and exceeding our commitments to them. The market will be served by a continually growing direct sales network and strategic distribution to support the fast-growing distributed solar segment. We aspire to increase our international footprint slowly but steadily, by preparing ourselves for the prerequisites for the overseas requirements on bankability and product insurance.

What are the new partnerships and alliances that Navitas Solar is looking at?

Navitas Solar has already joined hands with Redington for module supply. Along similar lines, Navitas Solar’s mission is to collaborate with the world’s best solar companies to develop and deliver the most reliable and efficient solar products and services. We aspire to bring awareness and partner with like-minded institutes and individuals to stride towards a sustainable future.

Please give us an overview of financial results for Navitas Solar. What are the key learnings from there?

In FY 22, we have already clocked 162 Cr and for FY 23, our goal is to clock 250 Cr for Navitas Group.  Constant learning, necessary improvements, and adaptivity with the market are the key learnings.

Which areas of business have you set your sights on that you think can be strengthened?

We have supplied our solar modules pan India. We can strengthen ourselves in Maharashtra, Tamil Nadu, Rajasthan, Madhya Pradesh and NCR belt regions. We are exploring USA, Europe and Africa markets for exports too.

What is the current solar module manufacturing capacity? How do you plan to augment it?

Navitas Green Solutions Pvt. Ltd. specializes in manufacturing of high efficiency mono and poly crystalline solar modules ranging from 5 Watts to 600 Watts per panel. With a total installed capacity of 500 MW per annum and upcoming capacity of 1.2 GW per annum. For solar module production, Navitas Solar stands among the largest solar module manufacturers in India. This translates into the high quality, reliability, and longevity of the solar modules produced.

Tell us about your business segments- EPC, residential projects, ground-mounted projects. Which claims the maximum share in the business?

We have products and services like solar module manufacturing, solar EPC services, EVA sheet manufacturing as our backward integration. We offer EPC services in ground mount as well as industrial and commercial rooftops. The biggest share turns out to be constant as module supply.