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M. Somasekhar

Hyderabad, Sept. 22 Titan Energy Systems, a fast-growing player in solar energy, has firmed up plans to target corporate sector and roof top installations in the domestic market.

For corporates, it plans to offer solar power to supplement diesel (whose costs are going up), to power systems and equipment in offices.

Similarly, roof-top installations with a wide range of applications — from home lighting to taking care of the power needs of independent bungalows, villas, resorts and small offices — are priority, said Mr Rao S.Y.S. Chodagam, Managing Director of Titan Energy.

The Hyderabad-based company has created a separate division to pursue these two business opportunities in the business to business space and not the consumer end, Mr Rao told Business Line here.

The company has emerged among the strong players in the solar energy sector, with an installed capacity of 50 MW at present and an order book of over Rs 1,500 crore from global manufacturers, he said.

Giving details of the expansion plans, Mr Rao said by end of 2008, the installed capacity would double to 100 MW and by the end of 2009 the target was to reach 250 MW. The major addition would come through the big project in the upcoming Fab City near the Hyderabad International Airport, on the outskirts of Hyderabad.

The company has been allocated 25 acres of land. It is raising the required $15-crore investment through term loans and internal accruals. Talks are also on with private equity players, Mr Rao said. The project, where ‘bhumi puja’ has been recently completed, would provide employment to 400-450 people.

The company was recently awarded the contract to supply, install and maintain a 2 MW grid-connected solar power plant by the West Bengal Green Energy Development Corporation, to be set up at Jamuria. Titan has tied up with Beck Energy of Germany to implement it.

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