Soap-to-software maker Wipro Ltd will also now design and build solar plants for power producers.
Wipro Eco Energy, a unit of the company's flagship Wipro Technologies, expects to build solar plants with a capacity of generating up to 100 MW of power by the end of current financial year, said Mr Anand Iyer, Vice-President, Sales and Marketing.
Wipro Eco Energy is in the process of completing its first solar photovoltaic (PV) installation of 1 MW for a small businessman in Madurai, which will be commissioned by month-end.
The company has already bagged some six to seven deals to build solar plants with a total capacity of 50 MW, Mr Iyer said. These plants, ranging from 1 MW to 25 MW, are spread across states such as Tamil Nadu, Gujarat and Rajasthan.
“There is significant interest from small businesses to diversify into solar power generation. We are planning to tap such opportunities,” Mr Iyer said. Wipro sees big growth potential in the solar systems integration business as India has a target to reach a cumulative installation of 2 GW of off-grid and 20 GW of on-grid PV installations by 2022 to help meet the country's burgeoning energy demands.
Going global
Leveraging its parent's IT and engineering expertise, Wipro Eco Energy aims to be a global engineering, procurement and construction firm in the solar arena. “We plan to go global over the next 18-24 months, once we have installed a capacity of up to 200 MW,” Mr Iyer said.
Besides, Wipro would differentiate itself from other EPC firms by also offering managed energy services through which it would look after the solar power plants. “Initially we would manage only the plants we build and may look at offering third party services going forward,” Mr Iyer said.
The 100-engineers-strong Wipro Eco Energy will be looking to double its team over the next months by hiring more with expertise in structural, design and power electrical capabilities, Mr Iyer said. Wipro Eco Energy, which also offers consulting and advisory services, aims to be a billion dollar firm in three years. The company has not disclosed revenues from the Eco Energy business separately.