Companies

SmartTrak to popularise tracking system for solar installations

V. Rishi Kumar Hyderabad | Updated on September 17, 2014 Published on September 17, 2014

SmartTrak is seeking to popularise its smart tracking technology for solar power projects, rooftop solar installations and solar water pumps.

The Hyderabad-based company has so far deployed this technology solution developed in-house in over 20 mw of solar power projects and is now seeking to introduce for rooftop solar power units and for solar water pumps in rural areas.

According to the company solar trackers help maximise the amount of incoming light by following the Sun as it moves across the sky. With solar trackers, the energy production of a photovoltaic plant can be increased by up to 45 per cent in optimal conditions as they change directions with the movement of Sun.

Addressing a press conference, Bhagwan Reddy, Chief Executive Officer and Naveen Tadipatri, Chief Marketing Officer of SmartTrak, said that they have filed for patents for the technology and expect to see it getting deployed in the State and other parts of the country.

The investment to deploy these trackers works out to about 7-8 per cent more but the pay back is faster, the company executives said.

The company expects to close this financial year with a revenue of about Rs 60 crore and sees its volumes swell as the technology gets popular.

“We are looking at an Initial Public Offer (IPO) early next fiscal. This will come under the small and medium sized company category,” Reddy said.

The company solution for solar pumps has been designed to even retrofit the exiting pumps. With the Government seeking to popularise solar pumps in rural areas, we are looking at this stream too,” Naveen said.

Published on September 17, 2014
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