Solis Touched 1 GW Of Capacity In Indian Utility Sector: Honey Raza

By Saur News Bureau/ Updated On Fri, Oct 13th, 2023

Solis Touched Around 1 GW Of Capacity In Indian Utility Sector: Honey Raza

Inverter brand Solis claims to have expanded its reach in the Indian utility-scale renewable projects. It is in addition to its outreach in the Indian rooftop segment. In a recent interview with Saur Energy, Honey Raza, Business Director of Solis, said that the firm has almost touched 1 Gigawatt (GW) of capacities in the utility-scale and is set to expand more.

“Solis, through its strategic and planned moves, has expanded from 1 Kw to 3.5 GW in the country. We are part of several green projects, like Tirupati’s 40 MW renewable energy project. We have almost breached the 1 GW capacity in the utility-scale and are set to expand further,” Raza told Saur Energy.

He also said that Solis has planned to increase its market share in the utility-scale from 30 percent to 50 percent by the end of this year. He also said that the firm has planned to increase the market presence of hybrid inverters by up to 20 percent.

“Now the government is also promoting PLI for batteries. These projects are now becoming more viable. Now, a person who has 100-200 KW capacity and uses DG sets is opting for hybrid inverters. Now, you can replace the DGs with a hybrid. It can work with reactive power without any glitches. The Central and State governments are now also replacing DG sets. A hybrid battery in this could be a good option,” the leader from Solis said.

Raza also said that the S&P ratings and ratings from Bloomberg have put Solis in the third slot in its market presence in the sector. He said the firm will likely increase its revenue by around 15 to 20 percent by the end of this fiscal year. He claimed that its wide customer services cater to India, Southeast Asia, and Europe’s energy needs. Solis expects that with the anticipated rise in the number of renewable energy sources in the country, the demand for inverters will likely increase.