It’s time to ‘renew’ energy

Renewable energy is required to boost India’s current energy generation capacity if we are to go toe-to-toe with countries that dominate global industries.
Joy Saxena, Executive Director – Finance, Vikram Solar
  In 2006, when Vikram Solar was established, solar sector in India was at its infancy and there weren’t many opportunities around in the country. The government support, flurry of policies, supportive incentives, and industrial development opportunities that it sees today, didn’t exist back in the day.
But, the company trusted the growing global acceptance of solar energy and stood firm upholding the dream of becoming a trustworthy name in solar industry. Vikram Solar, carrying forward the rich legacy and extensive manufacturing experience of the Vikram Group stepped in a new industry to make a difference. Vikram team executed innovative and well planned business strategies to make a name in the solar industry.
In 2009, Vikram Solar GmbH was incorporated in Germany and in 2010 it stepped in international EPC business. With passing years, it completed total installation of 3MW in India in the year 2011. It also successfully handled large scale solar plant installations of 40MW in Rajasthan in the year 2013.  It ranked Tier 1 solar PV module manufacturer by BNEF in 2014 and also the company designed, installed and commissioned India’s 1st floating solar power plant in Kolkata in the year 2014.
“Our in-house research and development efforts have helped us in staying ahead of the curve in the ever evolving solar technology space,” says Joy Saxena, Executive Director – Finance, Vikram Solar.
Don’t ignore key pillars of power supplyFrom 9.3 per cent demand and supply mismatch in FY 2012–13, Indian energy deficit stood at (-) 2.1 per cent in FY 2015–16. The government now has firm plans to make the country energy surplus with a target of generating 1,178 billion units of power. Economic growth has escalated the energy demand in India and the country is supporting its energy generation initiatives with new policy interventions. Major policy initiatives like ‘Power for All’ are practically reforming national energy generation structure. These mandates are also bringing in social reform, as India still has over 15.5 million households and 9,500 villages that are still devoid of electricity.
Commenting on the India’s expected power surplus Saxena says, “We believe Indian government needs to identify and uphold- availability, affordability, reliability and security of electricity supply as the key pillars for overall growth in the country. Each of these pillars serve a specific function and ignoring one will not complete the picture India wants to paint. Checking and improving financial health of distribution companies by offering subsidies and tax exemptions is required to help these entities purchase more power. As they start to purchase more power, there will be an urge among the power generators to produce more energy, both of which are required if India is to become and stay a power surplus.”

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