Luminous Power Aims To Double Growth in 4 Years To Invest Rs 2,000 Crore, ET EnergyWorld

5/31/24, 3:18 PM Luminous Power aims to double growth in 4 years; to invest Rs 2,000 crore, ET EnergyWorld
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Luminous Power aims to double

growth in 4 years; to invest Rs 2,00
crore
The company sees solar as a "growing market" and reach an "inflection" point in the n
years in terms of cost, as demand for clean energy sources is going to rise, where Lum
Power aims to be a leading company in this transformation journey here, she said.
PTI
Updated On Oct 2, 2023 at 08:54 AM IST
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New Delhi: Energy storage

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solutions company Luminous
Leaders Power Technologies aims to

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double its growth in the next
four years, and is looking at
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solar Podcastas a
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major growth enabler, where
it is investing substantially,
CEO Preeti Bajaj said.
Luminous Power, now
completely owned by French engineering company Schneider Electric,
has plans to invest around Rs 2,000 crore in capacity expansion of its
existing plants, a solar greenfield project, research and development
(R&D), digitisation, brand building and channel engagements.
The company sees solar as a "growing market" and reach an "inflection"

point in the next 2-3 years in terms of cost, as demand for clean energy
sources is going to rise, where Luminous Power aims to be a leading
company in this transformation journey here, she said.
Advt
"Our vision is that solar will be a substantial part of our business," said
Bajaj.
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With the rise in per capita income and increase in power consumption
due Leaders
to multiple appliances in urban households, the demand is shifting
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towards higher capacity inverters, batteries and residential solar
adoption.
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It is in the process of opening a PV (photovoltaic) module factory at its
Rudarpur plant in January, which will have 500 MW to 1 GW
(expandable) solar production capacity.
"For the organisation, the growth engines to increase market

capitalisation include a stronger focus on solar products. Solar is
important towards sustainable and profitable growth," she said.
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The company is making "forward-looking investments" to build capacity

for solar products and create an ecosystem, which Bajaj sees "as a
manufacturing imperative and an opportunity".
"We believe in this market and it is growing at 25 per cent. We want to

play a part in that and to that effect, we are bringing new products to
market," said Bajaj.
Besides, Luminous Power in collaboration with its channel partners is

providing solar solutions to its customers as well.
The company which has six plants at various locations, including Gagret
and Baddi in Himachal Pradesh, Hosur in Tamil Nadu, and Haridwar in

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Uttarakhand, has acquired land at Angul in Odisha, where it is going to
set up a new energy plant.
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"We are making our investments to be a multi-model organisation which

can provide full solar solutions, full inverter battery backup solutions to
India and potentially the world to that effect," said Bajaj.
With its solar solutions, Luminious is also looking to expand its export
markets, particularly from Africa.
It has a presence in around 40 countries and expects one-fourth of its

revenue to come from its international business in the next three years.
"We want the contribution to expand... if we are double the size of what
we are today, I would like it to be 25 per cent of that total turnover," she
added.
When asked about synergy with Schneider in the global markets, Bajaj
said it exists. Schneider's access to 160 markets helps Luminous to have
better knowledge about those places and accelerate into those markets.
"Those go-to market access opportunities are always available to us from

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our parent company. we want to be more globally visible and accessible,"
she Leaders
said. Brand
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Luminous Power Technologies is engaged in manufacturing of products

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the powerEconomy Companies
backup and residential Power
solar space. Podcast in the
It is also engaged TV
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trading of a range of inverters, batteries and UPS.
Its consolidated revenue from operations in the financial year ended on

March 31, 2023 was at Rs 4,231.34 crore, according to financial data
accessed by business intelligence platform Tofler. This was 14.65 per cent
higher than the revenue of Rs 3,690.52 crore recorded a year ago.
When asked about the mid-term outlook for the company, Bajaj said:
"We want to continue to accelerate our capability in solar power
electronics, solar PV assembly and solar ecosystem as a whole with the
software capability as well to bring solutions that make energy
transparent. We will continue to invest in R&D."
Last year, Luminous Power sold its home electrical business (HEB),
which has a portfolio of fans, lights and appliances, to RR Kabel.
Published On Oct 2, 2023 at 08:52 AM IST
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Renewable Energy India Expo 2023

to bring investments worth Rs 1,50
crore in biogas segment: IBA
"Renewable Energy India Expo 2023 (REI) will bring an opportunity worth Rs 1,500 cror
participation is expected to increase by 25 per cent from last year," an IBA statement s
PTI
Updated On Oct 2, 2023 at 08:51 AM IST
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Industry Indian Biogas TV
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Association (IBA) expects
around Rs 1,500 crore
investment announcement in
the biogas segment during 3-
day long Renewable Energy
India Expo 2023, beginning
on Tuesday. The IBA
comprises operators,
manufacturers, and planners of biogas plants.
"Renewable Energy India Expo 2023 (REI) will bring an opportunity

worth Rs 1,500 crore. The participation is expected to increase by 25 per
cent from last year," an IBA statement said.
According to the statement, major Indian conglomerates like Reliance

Industries and Adani Solar will be part of the REI.
The Ministry of New and Renewable Energy and National Institute of

Bio - Energy is supporting the biogas pavilion.
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The REI is scheduled to be held from October 4 to 6, 2023 at the India

Expo Centre, Greater Noida, Uttar Pradesh.
The expo is one of the largest trade expositions and events, focusing on
renewable energy (bio-energy, solar, and wind) and energy efficient
technologies including electric vehicles and battery storage.
The objective of the exhibition is to accelerate India's pledge towards

net zero emission.
A R Shukla, IBA president said in the statement, "Last year REI saw a
huge success with the number of initiatives announced. We are
expecting to generate lots of queries from the investors from this year's
exhibition."
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With the Global Biofuel Alliance announced recently, (during the G20
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meeting) the international interest in India will be highly contagious
considering
Leaders the available opportunity in India, heBrand
said, adding that "We
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are expecting almost 25,000 plus footfalls with the renewed interest and
the government's push towards the Bio-Energy sector."
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"The REI over the years has been providing platforms for many national
and international industry players to showcase their capabilities. This
year with the renewed focus on the Biogas sector the industry has an
opportunity to replicate the success of Solar energy in the country,"
Gaurav Kedia, Chairman, IBA said.
Advt
The present contribution of the Biogas sector in the energy mix is much
less than one per cent but it is expected to go up significantly by the year
2030, he said.
The REI Expo for the last few years has become one of the largest-
platform for national and international manufacturers, traders, buyers,
promoters and planners of the renewable energy domain to showcase
their newer technologies, products and improve industry interaction.
The IBA is the first nationwide and professional biogas association for
operators, manufacturers and planners of biogas plants, and

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representatives from public policy, science and research in India.
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GAIL's 10 MW green
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India must triple renewable

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investments to meet 2030…
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Renewable Energy India Expo 2023
Renewable energy developers

pinning hopes on land cost
optimisation to cut costs
Land cost optimisation in solar projects in India involves a combination of factors, inclu
site selection, efficient land utilisation, regulatory compliance, and strategic planning
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Oil Aarushi Koundal , • ETEnergyWorld

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2023 at 06:01 AM IST Companies Power Podcast
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New Delhi: The cost of land,

even though it represents a
relatively small percentage of
the total capex required for
setting up solar energy
projects, is critical in
reducing the overall project
costs in India, according to
renewable energy industry
developers.
“Although land represents a relatively small percentage of the total

capex, its cost optimisation can indeed impact the overall cost of solar
projects,” said Sharad Pungalia, managing director and chief executive
officer, Amplus Solar.
He said that while efficiency in procurement or lease rental is the key

driver, site selection, and space optimisation is also a focus area for the
developers.
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Optimising land costs involves finding the right balance between

location, quality, and price, according to Kapil Kasotia, COO - utility
business and wind, hybrid, strategic initiatives, AmpIn Energy Transition.
Land cost optimisation in solar projects in India involves a combination

of factors, including site selection, efficient land utilisation, regulatory
compliance, and strategic planning.
“By addressing these aspects, developers can reduce land-related

expenses, making solar energy more competitive and sustainable in the
Indian market,” he said.
He added that developers need to carefully assess land-related factors,

engage with local authorities, and consider various strategies to
minimise land expenses while ensuring project efficiency and
compliance with regulations.
“For solar energy major costs consist of land and panels. In order to make
solar power cheaper, we can only play with the costs of land now… At
present, the government is trying to get its share of this business before
the industry is getting its share of the revenue,” said Sumit D
Chowdhury, CEO, Hydreen.

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TheLeaders
National Electricity Plan 2023 notified by the Central Electricity
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Authority in May said that land is the most important resource, after
solar irradiation, for solar power plants.
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Higher capacity solar modules can play a key role in reducing the area of
land which is required for setting up solar power projects, said industry
experts.
Advt
The NEP also mentioned that due to the advent of high wattage solar PV
modules of 450 Watt and above, the land requirement has come down by
minimum 20 per cent and has reduced from more than 5 acre per MW to
4 acre per MW usable land for large ground-mounted solar power plants.
There are issues pertaining to the availability of land and to the legal
issues of land transfer.
“As of now primarily waste land, arid land, and land in the remotest
regions of the country with good solar radiation is being utilised for
installing large ground mounted solar power plants. Going forward other
avenues such as floating, roof-top, and canal-top solar, etc, for installing
solar modules need to be explored,” the NEP noted.

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TheLeaders
NEP also noted that land acquisition has been conventionally
Brand
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fraught with several challenges, which continue to affect major
development projects in the country.
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According to Pungalia, delay in land tie-ups leading to delay in project
timelines results in higher IDC costs and LDs, which have grave impact
on the project economics. Considering all these, the developers impetus
is to choose convenience and ease of tie-up over cost.
The major issues for power plants are lack of proper land records, lack of
clarity about the status of occupiers leading to issues related to
compensation. MOEF&CC clearance, and wide variation from state-to-
state in cost implications.
Other issues remain in the form of landowner resistance, price

negotiation, legal and regulatory compliance, displacement of
communities, environmental concerns, land title and ownership issues,
and land fragmentation.
renewable energy amplus solar sumit d chowdhury sharad pungalia hydreen
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5/31/24, 3:18 PM Luminous Power aims to double growth in 4 years; to invest Rs 2,000 crore, ET EnergyWorld

The Economic Times India… The Economic Times Energy… Download Ap

Renewable 3 Min Read

Luminous Power aims to double

New Delhi: Energy storage

Leaders Power Technologies aims to

The company sees solar as a "growing market" and reach an "inflection"

"For the organisation, the growth engines to increase market

EVENT EVENT AWARD

Thu, 13 Jun 2024 Fri, 14 Jun 2024

The company is making "forward-looking investments" to build capacity

"We believe in this market and it is growing at 25 per cent. We want to

Besides, Luminous Power in collaboration with its channel partners is

and Baddi in Himachal Pradesh, Hosur in Tamil Nadu, and Haridwar in

"We are making our investments to be a multi-model organisation which

It has a presence in around 40 countries and expects one-fourth of its

"Those go-to market access opportunities are always available to us from

Luminous Power Technologies is engaged in manufacturing of products

Its consolidated revenue from operations in the financial year ended on

MOST READ IN RENEWABLE

What caused the magical

India must triple renewable

Oil Be the first one to comment.

Join the community of 2M+ industry professionals

Your Email Subscribe For Free

schneider electric luminous power technologies new delhi energy

Renewable 2 Min Read

Renewable Energy India Expo 2023

"Renewable Energy India Expo 2023 (REI) will bring an opportunity

According to the statement, major Indian conglomerates like Reliance

The Ministry of New and Renewable Energy and National Institute of

The REI is scheduled to be held from October 4 to 6, 2023 at the India

The objective of the exhibition is to accelerate India's pledge towards

EVENT EVENT AWARD

Thu, 13 Jun 2024 Fri, 14 Jun 2024

operators, manufacturers and planners of biogas plants, and

Oil SunSource's Kushagra

What caused the magical

India must triple renewable

Be the first one to comment.

biogas Renewable Energy india iba reliance industries

Renewable Energy India Expo 2023

Renewable 3 Min Read

Renewable energy developers

Oil Aarushi Koundal , • ETEnergyWorld

New Delhi: The cost of land,

“Although land represents a relatively small percentage of the total

He said that while efficiency in procurement or lease rental is the key

Optimising land costs involves finding the right balance between

Land cost optimisation in solar projects in India involves a combination

“By addressing these aspects, developers can reduce land-related

He added that developers need to carefully assess land-related factors,

Chowdhury, CEO, Hydreen.

solar modules need to be explored,” the NEP noted.

Other issues remain in the form of landowner resistance, price

renewable energy amplus solar sumit d chowdhury sharad pungalia hydreen

Join the community of 2M+ industry

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