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Span Pumps Pvt Ltd, a manufacturer of manual and solar operated water pumps, has made a foray into the rooftop solar power generation segment.
The new venture will function under a separate entity called ‘Kalpa Power’, Rounak Muthiyan, Director, Span Pumps, said.
“We have been in the business of solar pumps for a while and getting into this new segment is a natural diversification. To date we have supplied more than 6,000 solar pumps, which is equivalent to about 5 MW of solar energy. This has helped us to acquire the necessary domain knowledge and thus have a complete ecosystem to run this business,” Muthiyan said.
The regions targeted for the new business are Maharashtra and NCR as these have a good potential for rooftop solar power generation for commercial and industrial use as the power cost is high and the supply is inconsistent, he added.
Kalpa Power will provide complete design optimisation and implementation support for the ground mounted and rooftop solar power generation.
“We also have a tie-up with a large pool of investors, who have an appetite for about 150 MW of solar power generation plants, translating into a value of about Rs 900 crore.
The parent company has made an initial investment of about Rs 6.5 crore in Kalpa Power which currently has a confirmed order book of over 1MW capacity and is targeting 8 MW in fiscal 17.
The turnover of Span during FY 2016 stood at Rs 75 crore, including Rs 10 crore from exports.
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