20th June 2023, Surat: India’s innate tech capabilities and focus on research & development are poised to help India emerge as a global leader in renewable energy space, especially solar energy, said Vineet Mittal, Director – Finance & Strategy at Navitas Solar, a leading module manufacturing company in India.
Mr Mittal made the comments while speaking in a panel discussion on “India ascends: The Next Tech Superpower” at India’s Biggest Startup Summit 21By72-Season 2 in Surat on Sunday, 18th June 2023.
“India has witnessed unprecedented growth in technology in recent years, and Indian talent is much sought after by technology companies worldwide. India’s tech capabilities extend beyond the traditional areas and are making significant contributions in areas like renewable energy, particularly solar power. Technology is enabling us to harness the power of the sun more effectively, while innovations in storage solutions are paving the way for Round The Clock (RTC) power. As India focuses more on R&D and innovation, it will further strengthen its position as a tech superpower,” Mr Mittal said.
The panel discussion also featured Nachiket Patel, Founder of Logicwind, Yogesh Kabra, Founder of XYXX Apparels, Sousthav Chakrabarty, Co-founder and CEO of Siply, and Sunny Garg, Co-founder and CEO of Crib. The session was moderated by Pooja Maloo, an International Corporate Trainer & Skill Strategist at ThoghtSmiths.
Earlier in the summit, Mr. Mittal made a presentation about Navitas Solar and shared the company’s future plans about expanding module manufacturing capacity up to 10 GW in upcoming 10 years. Navitas Solar has recently raised $5 million to expand the capacity of 500 MW p.a. to 1.7 GW p.a. The expansion will enable the company to cater to a larger segment of clients and retail consumers seeking eco-friendly and trusted solutions for renewable energy. Navitas Solar is actively looking to explore the global markets especially the USA, Europe & Africa.
About Navitas Solar:
Navitas Solar is a fast-growing solar panel manufacturing company based in Surat. It was founded in 2013 by young entrepreneurs Vineet Mittal, Sunay Shah, Ankit Singhania, Aditya Singhania and Saurabh Aggarwal. Navitas Solar is a leading solar module manufacturer in the country with a total manufacturing capacity of 500 MW per annum and expanding to 1.7 GW pa. It specialises in polycrystalline and Mono PERC solar modules ranging from 5 watts to 600 watts per panel.
Navitas Solar is among the few solar module-manufacturing companies in the country to have backward and forward integration. Its subsidiary Navitas Alpha Renewables Pvt Ltd manufactures EVA sheets to provide backward integration, while forward integration is provided by project execution & full-fledged EPC services for residential, commercial and industrial clients on rooftops as well as open access solar parks.
Navitas Solar is ranked among the top 10 Indian solar manufacturers by JMK Research & Analytics. Navitas Solar has more than 800 customers pan India, including governments, semi-government agencies, and commercial enterprises. Navitas Solar is actively looking to grow in other geographies like USA, Europe and Africa. Navitas Solar is committed to contributing to the worldwide clean energy movement through realistic solutions.