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Hartek Power wins 460 MW solar contracts in this fiscal

IANS  |  New Delhi 

Chandigarh-based Hartek Power said on Wednesday that it has bagged orders for 460 MW solar power projects in the first half of the ongoing fiscal.

"Hartek has bagged 460 MW solar EPC (engineering, procurement, construction) orders already in the first half of the current financial year, thus registering a steep increase of 373 per cent over last year when the company had secured just 123 MW orders," the company said in a release here.

The orders secured include 16 substation projects of up to 132 KV spread across six states of Punjab, Bihar, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra, it said.

The company, previously known as Amtek Energy & Power, will provide complete turnkey solutions for these projects and execute post-inverter works covering the design, engineering, supply, installation and commissioning of the power plant electrification, it said.

"Aggressively capitalising on India's solar overdrive, we have prevailed over many big competitors to bag these orders," Hartek Power Chairman Hartek Singh said in the statement.

"Given the favourable market scenario, the proactive approach of the government is pushing solar power and our expertise in connecting solar projects to the grid, we will exceed the 500 MW target quite smoothly," he added.

Hartek Power said it is focusing on consolidating its position in South Indian states like Andhra Pradesh, Telangana and Karnataka, which offer immense business opportunities, as well as in traditionally well-performing states like Madhya Pradesh and Rajasthan.

"While tapping business opportunities in the three southern states, where 3 gigawatt (GW) tenders are under execution, we are also expanding our operations to new geographies like Jharkhand, which will close the bids for 1.2 GW projects in the current financial year," the chairman said.

"At the same time, we will strengthen our hold in states like Punjab where we have traditionally been doing well," he added.

Out of the 500 MW solar projects awarded by the Punjab government recently in the third phase of auctions, Hartek Power has bagged solar EPC orders for 200 MW projects, the company said.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 19 2016. 16:32 IST