Solar Semiconductor Private Limited, a Hyderabad-based manufacturer of solar photovoltaic modules and system integrators, is in the process of acquiring US-based Solar Infra.
The acquisition is likely to take place in the next two months. It is too early disclose the details now, Larry C Holmberg, the newly-appointed chief executive officer of Solar Semiconductor, told mediapersons here on Thursday. Holmberg was the co-founder and chief executive of Solar Infra.
With its current capacity of 200Mw of crystalline-silicon solar cell and module manufacturing capacity at its Fab City facility on the outskirts of Hyderabad, Solar Semiconductor has recorded Rs 800 crore revenues in 2010, a three-fold jump over the previous year. Only 10 per cent of its revenues flow in from the domestic market.
“We are expecting a 100 per cent growth for the 2012 financial year,” Holmberg said.
The global solar market is currently pegged at 17 giga byte, and is growing at a compound annual growth rate of 14-17 per cent. India is an important market in the solar energy segment and its potential is going to reach 20 giga byte by 2020.
Solar Semiconductor would launch a micro-grid solution for those who do not have access to electricity. Another free-standing water solar product, which is currently in the test-run process, will be commercially launched in the coming months. The product is engineered and designed for the Indian market.
“We will implement a planning process to understand the potential markets, both domestic and overseas,” Holmberg said. Also, the company is investing in cost-effective, technology-based solar solutions as part of its growth plans, he added.