Jakson Group eyes Rs.1000-crrevenue from solar biz in FY17
Riding high on initiatives taken by the government to promote solar energy, power solutions provider Jakson Group is eyeing nearly Rs.1,000 crore revenue from this segment alone in FY17. ´The government has set a target of 100 GW of solar capacity by 2022. This gives a huge opportunity for players like us who provide end-to-end solutions for setting up the capacities, manufacturing solar panels and other products,´ MD of Jackson Group Sameer Gupta stated. The company is eyeing Rs.2,500 crore revenue in financial year 2016-17, out of which it expects the solar business, which includes solar power generation, manufacturing of panels, products and rooftop EPC projects, to contribute around Rs.1,000 crore, he said. The firm expects many EPC contracts in the solar space from both the public and private sectors. It also plans to increase its solar panels manufacturing capacity from 75 MW currently to 250 MW over the next two years, the company is also looking at joint ventures especially for technology transfer for setting up panel manufacturing plants to expand the capacity to 250 MW. It is considering the port areas in states like Gujarat and Telangana and plans to invest Rs.300 crore for setting up such facilities.