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Interaction | October 2013

Lack of Clarity on Policy Holding Investor Sentiments

If there is clarity in policies, the renewable energy sector can see a major turnaround in next the 3-4 years, says Vinay Goyal, CEO, Ganges Internationale, as he speaks on the market sentiments and the company's growth plan.

People seem to be very sceptical about renewable energy market. How do you see the sentiments around?
Market sentiments today are mainly affected because of delays by the government. Investors are ready to invest, but they are holding up due to lack of clarity on the policy and tariff. Unless these things stabilise, sentiments will always remain down. However, in the recent past, states like Tamil Nadu, Punjab, Bihar and UP have understood the importance and are taking initiatives to accelerate renewable energy development in their respective regions.

That means you expect the turnaround in the near future?
We expect a major turnaround in the next 3-4 years.
How is your order flow?
As of now, we have about 60 MW, and this year, we expect to close at 120 MW plus. Hopefully with Jawaharlal Nehru National Solar Mission (JNNSM) or Tamil Nadu tender expectations, this figure might touch 150 MW in the current year.

Ganges Internationale is a leader in telecom tower manufacturing. What inspired you to get into solar?
This happened when Moser Baer's plant failed in Tamil Nadu and the entire structure collapsed. They called us for providing engineering services for their structure, and we found basic design defects. Being a design company, we were able to reengineer it and also give them cost-effective solutions. Now almost every major EPC player is buying structures from us.

From where do you source components?
We have two units from where the components are sourced. The Pondicherry plant manufactures telecom and solar structures from two different plants, while the Raipur plant provides heavy engineering for both the structures.

The demand for components will increase due to increase in order inflow. Do you have any plans for this?
Currently, we have built up a capacity of 3,000 tonne a month, which translates around 85 MW a month. However, we are barely able to do 10 to 12 MW as of now. So, we think we have enough capacity to meet the current demand.

Where do you see yourself in terms of market share? What target have you set for 2017?
We would be holding around 30-33 per cent market share. Going ahead, we expect this share to go above 40-45 per cent.

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