The company is planning to invest in 300 MW of combined capacity over the next 3 years under a newly formed entity – JBM Solar (P) Ltd, which will be an independent power producer with a focus on both ground mounted and solar rooftop projects.
JBM Solar has already commissioned a rooftop solar installation at the India Habitat Centre generating 250 kW and the company has also recently won an order from the Haryana Government for a capacity of 20MW. This will be the largest ground solar power plant in the state of Haryana so far. JBM Solar is also currently in discussion with various other states with regard to establishing more solar projects.
“With the Indian national solar target increasing from 20GW to 100GW by 2022 and our government’s ongoing focus towards building smart cities, we feel this is the right time to enter into the solar power sector” said Mr. Nishant Arya, Executive Director, JBM Group. “Going forward, we project that the solar power vertical shall contribute around 15% of the total revenue at the group level. We also plan to expand this business to wind energy and biomass in the next phase.”
Mr Arya added that the company will become increasingly bullish on its latest foray, given the international thrust currently being given to clean energy, with plans to hire an additional 100 staff.
There is growing pressure from the international community on India to take the climate change seriously and the Indian government has responded by establishing the National Solar Mission. This sets the objective of making the country a global leader in solar power, aided by its enormous solar energy potential. India receives one of the highest global solar radiations of around 5,000 trillion kWh per year.
India had planned to add 9 GW between 2014 and 2017 under the original National Solar Mission target, along with an additional 10 GW between 2018 and 2022. Current installed solar power capacity in the country amounts to just less than 2.7 GW.
For additional information:
