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EQ In Exclusive Conversation With Mr. Prashant Mathur, C.E.O – Saatvik Group – EQ Mag Pro

EQ In Exclusive Conversation With Mr. Prashant Mathur, C.E.O – Saatvik Group – EQ Mag Pro


Q-1) What kind of changes do you see in the industry after the BCD implementation on Solar Panels?

The Ministry of Finance has imposed BCD on Solar modules & cells with effect from 1st April 2022. Considering this perspective action taken by the government, the market will witness enormous demand in the near future and will undoubtedly seek a potential increase. To support BCD, the government has also launched PLI schemes in India, allowing manufacturers and suppliers to sell the best quality solar panels and modules while receiving indirect support in the conversion to clean and green energy, allowing players to incrementally increase their production capacity. In order to capitalize on the exponential economic opportunity, Saatvik Group plans to grow its manufacturing capacity from 1GW/Annum to 3GW/Annum as the market’s demand and supply increase.

Q-2) What does the Dynamics of Price- Demand – Supply looks like for this and the next year?

The solar industry in India has grown significantly in recent years, as the government has emphasized lowering dependence on cell imports from China and exploring alternatives. As the government has become extremely active in lowering carbon emissions and generating power from accessible natural resources demand solar projects has raised up. As the price of panels and cells in India fluctuates owing to rising demand in the worldwide market, the coming years in India will be extremely lucrative for the solar business. As the transition from fossil to renewable energy accelerates, the demand and supply for solar modules and panels will change substantially.

Q-3) What Kind of products and new technologies you are going to launch in this or next financial year?

At Saatvik we are always open to adopting new technology and implementing them as an up-gradation practice for generating the best quality products and strongly believe in delivering the latest and most advanced techno products in the market at competitive pricing. Currently, at Saatvik we are into the manufacturing and supplying of M-10 modules which have now been further upgraded to G-12, and all the ground research work and approvals are already lined up, Testing in the plant in terms of technical know-how is underway and soon the company forays to launch this technology in Indian and Global market providing improved and better quality products for end consumers. The company is speeding up in using Topcon cells technology and several talks are already initiated to implement this technology into operations.

Q-4) What Kind of Pricing and technology roadmap do you see coming through in the industry?

Conversion from fossil to renewable energy will surely give Solar Industry a pace in demand and supply as several new adoptions to advanced technology will be introduced and practiced, Solar will become even more affordable in the future years as technology advances. Solar might become the most important source of energy for power production in a significant part of the world by 2030. This will also benefit the ecology and combat climate change

Q-5) What’s the total quantity you supplied to India in the Last 1 year and what are the expectations for the coming year?

In the last financial year Saatvik has supplied 350 MW+ Solar PV Modules in Indian Market achieving remarkable benchmarks by becoming the 3rd most preferred brand supplying Solar panels and modules. The company has strategized its supply plan for the current financial year and targets to supply 750 MW+ Solar PV Modules in the market.

Q-6) What’s your View on the ALMM/BIS etc.…?

ALMM(Approved list of models and manufacturers) and BIS approvals by the Indian Govt is a highly appreciable approach towards streaming the industry in the right directions conducting necessary testing and providing authorization certificates. This step will surely ensure that the industry players maintain regulatory standards and protocols viewing product safety delivered at the end consumer end. This initiative will surely encourage new and emerging players in standardization and support indirectly in Make in India scheme introduced by the Govt of India employing opportunities in providing employment, conducting trading and export practices, and the main converting towards the clean and green sources of energy saving huge on pockets in terms of expenditure caused in paying electricity bills.

Q-7) What is the opportunity in India currently…. In terms of projects in Tender, Pipeline Etc.…Opportunities in manufacturing?

The Indian solar business has seen exponential development, with more than 10GW expected in the fiscal year 2021-22. In Line with the government’s vision to make India a Zero Emission country by 2030, new initiatives and support policies are drafted to support module manufacturers. Indian market will surely see an unexpected growth by 2030 rising up the production capacity upto 30ME+ giving unpredicted opportunities to convert into power generation sources to clean and green energy.

Q-8) How has the rupee devaluation affected the solar industry and your business?

– The depreciating rupee has surely impacted the industry to an extent as the variation between the time of bidding and till finalization of the module supply agreement, there is always a decent chance in the currency depicting towards price high or low.

Q-9) What kind of Solar Tariff trends do you see in the coming future?

Solar tariff in coming years can depetcilly witness up’s and down as the market is leading towards stability, Government is introducing several policies and SOP to stabilize the market and provide benefits to players. Govt plan is to introduce several PLI Schemes to support the installation and conversion towards the usage of renewable energy.

Anand Gupta Editor - EQ Int'l Media Network