CHAPTER-1

PROFILE OF THE COMPANY

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A. BRIEF NARRATIVE ABOUT THE COMPANY

PEACOCK SOLAR is a solar company belongs to renewable and environment

industry. It is started by bunch of an IIT-ISB alumni which promises to provide high

quality, hassle-free solar installation at lowest cost and highest reliability. It is started

with a vision to empower India’s fifty million households with clean solar power.

Peacock Solar promises quality and reliability to its costumer. Peacock Solar – first of

all take a look at the device through putting in 20 projects through the stop of 2018 in

Kota, and then the business enterprise plans to carry out a larger-scale pilot of ~250

projects, unfold throughout more than one cities. The company provides two types of

solar : household and commercial. By leveraging data analytics and innovative

finance, Peacock Solar hopes to become an energy partner for 200 million people and

contribute to environmental stabilisation. The company provides services include

installing solar at low down payment and affordable financing option from their

banking partners, installation of solar energy with best quality material for guaranteed

performance and online monitoring of performance of the systems.

The company is also providing career option in the field of technology, human

resource, finance, marketing, and sales.

Climate Finance Lab named Peacock Solar as one of the top nine worldwide ideas for

sustainable development in the 2018 cycles, and UNICF provided funding to help

them to achieve their ambition of getting solar at every home.

The company is supported by The Lab: Driving Sustainable Development, Sangam,

USICEF: US-India Clean Energy Finance.

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B. OBJECTIVES OF STUDY

1. The objectives of the summer training are as follows:-

(a) To work & gain knowledge of real business environment & corporate

culture.

(b) To analyse application of management concepts in real business

situations – degree to which applied/not applied.

(c) To understand a business entity from management perspective in different

functional areas.

(d) To develop skills in technical report writing through data collection, data

analysis, data presentation and draw lessons cogently vis-a-vis a given firm or

company.

(e) To enhance analytical abilities.

(f) Understanding the day-to-day operations of human resource department in

Peacock Solar.

2. Source of data collection

Data collection methods used for the project are as follow:

2.1 Primary Sources- Primary data is collected by observing working of

HR department.

2.2 Secondary Sources- Most of the data used in the study is from

secondary source, which has been collected through:

Company’s Website, Sales Brochures, Annual reports which include

company’s balance sheet and profit and loss account, Newspaper.

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C. PROFILE OF THE COMPANY

1.1 Renewable Energy Sector in India.

India is the third-largest electricity consumer in the world and the world’s third-

largest renewable energy producer with 38% of total installed energy capacity in 2020

from renewable sources. In 2016, India committed to producing 40% of its electricity

from non-fossil fuel by 2030. In 2018, India’s Central Electricity Authority sets the

target of producing 57% of total electricity from non-fossil fuel sources by 2027. By

2022, India hopes to have 227 GW of renewable energy capacity (including 114 GW

of solar and 67 GW of wind power) and 523 GW of total capacity (including 73GW

by Hydro) by 2030 from renewable energy. Three forms of the top five world’s

largest solar parks are in India including the world’s largest 2255 MW Bhadla Solar

Park in Rajasthan, the second largest of 2000 MW Pavgada Solar Park Tumkur in

Karnataka, and 1000 MW Kurnool Solar Park in Andhra Pradesh.

In India Wind Power has a strong manufacturing base with 20 manufacturers and 53

various wind turbine models of the highest quality up to 3MW in size and even

exports to Europe, the US, and other countries.

In India, solar, wind, and run-of-the-river hydroelectricity are used as “must-run”

sources to cater to the baseload and these are environment-friendly cheaper power

sources. 

India was the world’s first country to set up the Ministry Of Non-Conventional

Energy resources. Solar Energy Corporation of India is responsible for the

development of the solar energy industry in India. Hydroelectricity is regulated by the

Ministry of Power.
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The Indian Renewable Energy business is the world's fourth most appealing

renewable energy market. India was rated fifth in the wind and solar power and fourth

in renewable energy installed capacity in 2019. Renewable energy generation has

been increasingly popular in recent years. With better economies and increased

government backing, the renewable energy sector is becoming more appealing to

investors.

India has 95.7 GW of renewable energy capacity, which accounts for 25% of total

installed power capacity, presenting a significant opportunity for the growth of green

data centres.  

1.2 Solar Energy Sector

In most part of the India clear sunny weather is experienced 250 to 300 days a year

and that’s why solar energy sector has highest potential among the other renewable

industry. The National Action Plan on Climate Change also said that as India is a

tropical country, sunshine is available in great intensity for longer hours in a day

hence solar energy has great potential as succeeding energy source and said that Solar

energy has a great advantage of permitting the decentralized distribution of energy,

thereby it can empower people at the grassroot level. In past few year solar energy

sector benefited millions of Indian village people meeting their essentials livelihood

like lighting and other energy needs in an environment friendly manner. Overs the

year solar energy sector come out as an important player in the grid connected power

generation capacity. Solar sector becomes an integral part of the renewable energy

industry as it meets nation’s energy needs and also supporting government’s agenda

of sustainable growth.

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In India various schemes related solar power generation like Solar Park Scheme, VGF

Schemes, CPSU Scheme, Defence Scheme, Grid Connected Solar Rooftop Scheme etc

have launched by the Government of India. A target of 2000MWp was kept for off-

grid solar PV applications under the National Solar Mission. Government has recently

launched a new scheme called Pradhan Mantri Kisan Urja Suraksha evam Utthan

Mahabhiyan (PM KUSUM) which targets to install new standalone solar pumps in

off-grid areas and to solarize existing gird connected agricultural pumps. In 2015,

Ministry launched Suryamitra Skill Development Programme and asked to National

Institute of Solar Energy (NISE) to coordinate the trainings for creating skilled

manpower to install, operate, and maintain the SPV systems for solar power projects

with a target to train 50,000 suryamitras by 2019-2020 for the country.