Energy solutions provider CleanMax Solar plans to set up nearly 300 MW of solar capacity, including 100 MW of rooftop installation, this fiscal and will invest around Rs 15 billion for the same.
Currently, CleanMax has an operational capacity of 80 MW and another 25 MW is under construction. Out of the total operational capacity, two projects of 30 MW each are solar farms in Karnataka and Tamil Nadu.
Company’s Co-founder Andrew Hines commented that the 25 MW of projects will be commissioned in this fiscal itself. With the additional 300 MW, their total portfolio will reach to up to 400 MW in FY 2017-18. He furtehr notified that the company will have to invest around Rs 1,500 crore to achieve the target.
CleanMax’s rooftop business is pan India with projects in Mumbai, Pune, Hyderabad, Bengaluru, Delhi NCR, Gujarat, Maharashtra, Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, Madhya Pradesh, Rajasthan, Uttar Pradesh, Jharkhand, Punjab, Haryana, among others.
It has only two solar farms one each in Karnataka and Tamil Nadu. However, he said, though the solar panel costs have come down, the industry is not likely to see such drop in tariffs unless there are incentives and compensations offered to developers.
By Baishakhi Dutta
