New Delhi: Tata BP Solar, a joint venture between Tata Power and BP Solar, will expand capacity to 300 MW and has set a target to become $1 billion (over Rs4,000 crore) company by 2012, a top company official has said.
“We are hoping to become a one billion dollar company by 2012,” Tata BP Solar North India Head Amit Kumar told PTI, adding that the installed capacity of the company would reach 300 MW by the year 2012.
In its endeavour, the company has already invested Rs400 crore ($100 million) in the current financial year for manufacturing 180 MW of solar cells and 125 MW of solar modules.
Tata BP Solar provides services to the Defence forces, North Eastern states, Bihar, Jharkhand, Chhattisgarh, educational institutions like IIT Kanpur, IIT Delhi, IIM Bangalore and has also electrified 20 villages in Orissa.
The company has also signed a memorandum of understanding with Tata Agrico for distributing solar products targeting consumers, who are deprived of electricity in the rural areas of the country.
Tata BP Solar is currently harnessing the potential of solar energy for providing telecom infrastructure in Bhutan. It is also supplying solar power equipment to Afghanistan, Pakistan, etc and export products to countries in Western Europe and the US. The company’s clientele includes corporates such ONGC, Indian Oil Corp and Hindustan Petroleum Corp.
The company is planning to work with realty developers DLF and Unitech to utilise its services for their townships.
It is also looking forward to tapping the potential solar power market in the National Capital Region and is planning a foray into other areas of renewable energy.