SmartTrak Solar Systems, a Hyderabad-based startup that manufactures solar tracking systems and solar weather stations, is looking at expanding the production capacity at its Hyderabad plant from the current 300 Mw to 1,000 Mw a year, according to director Bhagawan Reddy.
“The success of such technologies depends on government policies. We are closely observing the policies, and once they are clear and our order book swells, we will go in for the expansion in the next six months,” he told Business Standard.
SmartTrak, which so far had invested Rs 2 crore in its manufacturing facility, is planning to further infuse Rs 4 crore for the expansion. It is talking to private equity and venture capitalists to raise funds for the same, he said.
The company’s solar tracking systems comprise an in-built algorithm, which calculate and follow the course of the sun in advance, and move and arrange the solar panels accordingly.
The company has already implemented a 3-KWp (kilowatt-peak) dual-axis tracking system at Hyderabad-based Signion Systems, and two 6.5-KWp dual axis system at a solar power plant near Anantapur in AP.
Stating that the company had an order book of 20 dual-axis tracking systems valued at Rs 1.5 crore, and was expecting Rs 12 crore worth of orders during this year, Reddy said they were targeting to garner revenues of Rs 15 crore by March 2013, as against Rs 12 crore last year.