Wednesday, July 10, 2013: Jackson Power has targeted doubling its revenue generation by March 2016 amounting to Rs 25 billion as it sets up the procedures for a new investment in solar energy solution worth Rs 7.5 billion. The project aims at solar energy services across the country in the period of next three – four years.
According to an interview of Sameer Gupta, the MD of Jackson Powers, the company has already started off with an investment of Rs 2 billion for projects in Jodhpur, Rajasthan. The facility will come up with a capacity of 20 MW. Jackson Power is now working for more than 66 years and it aims to scale up its total solar energy installation portfolio to 100 MW in the period of next four years. The Rs 7.5 billion investments will actually be an expansion for this capacity with a debt-equity ratio of 70:30. It has tied up with the Standard Chartered Bank in Singapore for funding through external commercial borrowing (ECB). As the proposal floated between the organizations, an amount of Rs 0.7 billion has already been established and this would be funding a 10 MW project in Uttar Pradesh.
The private firm already has working units in Daman, Jammu, Greater Noida and Kalsar (Gujarat). The Jammu, Daman and Kalsar plant constitute of its gas based and silent diesel power generation with a combined capacity of 15,000 sets every year. The Greater Noida plant is completely associated with manufacturing of solar panels.
These plants will be regularized to produce 250 KVA capacities and a higher amount is planned for the Jammu unit. The Kalsar plant is also the largest DG set manufacturing unit in the country and also focuses on special manufacturing like defense sets. The company already has orders worth Rs 3 billion in upcoming months.
