Hartek Power said it bagged over 1-GW solar grid EPC projects in 2016-17, recording 733 percent increase in order size.
The 1,025-MW solar grid EPC orders received by Hartek Power show 8-fold growth against its order size in 2015-16. It won 30 substation projects of up to 220 KV spread across 10 states, including Punjab, Rajasthan, Telangana, Karnataka, Maharashtra, Uttar Pradesh, Delhi, Madhya Pradesh, Chhattisgarh and Bihar.
Hartek Power has commissioned substations for 598-MW solar projects so far, connecting 340 MW of solar power to the grid in 2016-17.
“Given the favorable market scenario, the proactive approach of the government is pushing solar power and our unmatched expertise in connecting solar projects to the grid, we have surpassed the 500-MW target quite smoothly,” said Hartek Power Chairman and Managing Director (CMD) Hartek Singh.
The Chandigarh-based company connected 340 MW of solar power to the grid in 2016-17. Hartek Power has commissioned substations for 598-MW solar projects so far. In contrast, the company had executed 123-MW projects in 2015-16.
Hartek Power recently signed a 100-MW order of 220-KV class in Telangana. The company, which has a presence in 17 states, is also eyeing business opportunities in states with vast solar potential like Jharkhand and Madhya Pradesh.
“While tapping business opportunities in the three southern states, where 3-GW tenders are under execution, we are also expanding our operations to new geographies like Jharkhand, which closed the bids for 1.2-GW projects in 2016-17. We will strengthen our hold in states like Punjab and Uttar Pradesh,” said Hartek Singh.