Supply Of 15-GW Inverter Units 'Low-Hanging Fruits' For Solar Panel Business: Luminous MD

Luminous Power Technologies Managing Director Preeti Bajaj.(Source: Company)

With the government's push for solar power as impetus, Luminous Power Technologies Pvt. seeks to capitalise on the inverter units it has installed across the country.

The power and home electricals firm sees opportunities from the PM Surya Ghar Muft Bijli Yojana for its 250-MW solar panel plant that was commissioned on March 28 in Rudrapur, Uttarakhand.

And the firm expects the 15 gigawatts of inverter battery solutions it has supplied till date in the country to be "low-hanging fruits" for the company, according to Preeti Bajaj, managing director and chief executive officer of Luminous Power Technologies.

That's because these customers can be upgraded to grid or off-grid solutions if they plan to offset high electricity bills, Bajaj told NDTV Profit in an interview.

“Anyone who has faced power shortage has hopefully experienced Luminous inverter battery solutions in their homes,” Bajaj said. “If these consumers think of future readiness of their homes and decide to offset their expensive electricity energy bills, they can operate through solar inverter solutions offered by us.”

Off-Grid And Grid Supported Solutions

“In areas where grid connectivity isn't good, they can go for off-grid solutions; and if they are in urban or metro India, they can go with the grid-supported solutions,” she said. “With 25 crore homes, all we need is the support of the consumers for our reliable products.”

The company expects demand for power to increase in villages for agricultural purposes, where solar pumps would emerge as the top driver for solar panels.

Similarly, the impetus for solar power for residences under the PM Surya Ghar Muft Bijli scheme—where subsidies would be extended to consumers to install solar panels on their roofs—would help to keep utilisation levels high for solar panel plants and other solutions offered by the company, such as inverters and batteries.

Luminous has commissioned 250 MW of solar panel capacity in its first phase. The total planned capacity for the plant is 1,000 MW, which will be taken up in the next couple of years depending on demand, she said.

The complete energy solutions provider has invested close to Rs 125 crore on the plant and has around 10 acres of land for the second phase of the development.