Inverter maker Su-Kam is planning to invest around Rs 300 crore to launch solar- and wind-powered inverters and storage devices for domestic customers.
“We are looking at acquiring a solar panel firm as well as enhance capacity of our existing plants to start manufacturing solar-powered inverters,” Kunwer Sachdev, managing director, Su-Kam, said.
The company has a war chest of Rs 100 crore for acquiring firms manufacturing solar panels. Su-Kam will invest another Rs 200 crore in the solar sector over the next three years to develop and design new products.
The privately-held company, which has investors such as Anil Ambani’s Reliance Group and Temasek Holdings on board, will fund the buy through internal accruals.
Asked whether Su-Kam is planning to enter the power generation market, Sachdev said: “The solar generation market is very complex and requires a lot of government intervention, we don’t want to get into that.”
Su-Kam launched its first solar-powered inverter, priced at Rs 24,000, last year and within six months, it sold 4,000 units of the same in Delhi alone. “We are looking at selling 2,000-3,000 units every month,” he added. “We are expecting Rs 100 crore revenues from solar this year. Next year, we are expecting Rs 300 crore from solar only.”
Su-Kam recorded Rs 700-crore in revenues in 2011-12 and is expected to close FY 2012-13 with revenues of Rs 1,200 crore.
