Power News We love to talk!
Looking to tap the growing rooftop solar market in the Middle East and South-East Asia, CleanMax Solar is eyeing up to 40 per cent of revenues from overseas business in the next 3 years, a top company official said.
"While we continue to grow in India in the rooftop and open access solar power segment, we are pursuing growth in international markets mainly the Middle East and South-East Asia. We are currently looking at the UAE market and soon we will spread our presence in the other countries," the company's Managing Director Kuldeep Jain told PTI here.
He said the company expects its international business to contribute nearly 35-40 per cent of its revenues in the next three years. The company recently opened its first overseas office in Dubai
Jain further said the recent funding of $ 100 million it received from global private equity player Warburg Pincus would be partly utilised for this international expansion.
"We are already enjoying a 24 per cent share in the domestic market. Our aim is to garner a similar share in the international markets as well," he added. With a portfolio of 90 MW of installed capacity, CleanMax is eyeing to reach 250 MW by the end of this fiscal.
"We are also expecting to touch revenues of up to Rs 800 crore in this financial year. Thereon, we expect to double our revenues year-on-year every year," Jain added
- Coal Indias 66 coal mine projects facing delays Read more
- NTPC ties up with Ola to provide taxi services for employees Read more
- India seeks SoftBank push for Modi government's solar goal Read more
- Indian ships ferrying Iranian oil to get insurance cover Read more
- PSERC notifies proposed tariff for renewable energy technologies for 2015-16 Read more
- Demonetisation helps discoms recover Rs2,875.42 crore in dues Read more
- Solar manufacturers at ease over WTO ruling upholding US complaint against India Read more
- Gas prices in India to fall 16% next year Read more
- Monnet Ispat to surrender Odisha coal block bagged in auction Read more
- Govt may tap private sector to fill CEO posts at CIL, NHPC Read more