Jul 2016 | 330-MW Solar EPC Orders in its Kitty in Q1, Hartek Power Eyes 500 MW this Financial Year

Ø These orders are spread across six states, including Punjab, Bihar, Karnataka, MP, UP, Maharashtra
Ø Known for its expertise in executing solar EPC projects, Hartek Power has installed substations for 258-MW solar projects since it entered the business three years ago
Ø Going by the size able orders bagged by it in first quarter, the company will cash in on the solar overdrive to cruise to the 500-MW target quite smoothly

Chandigarh, July 6, 2016: Riding on the solar wave, Hartek Power Pvt Ltd, one of India’s fastest growing Engineering, Procurement and Construction (EPC) companies based in Chandigarh, has bagged substation orders for 330- MW solar projects across the country in the first quarter of the current financial year. With these orders in its kitty, Hartek Power is poised to connect 500-MW solar power projects to the grid in financial year 2016-17.

The 330-MW solar EPC orders bagged by the company include 10 substation projects of up to 132 KV spread across six states, including Punjab, Bihar, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra. Specialising in executing high-voltage turnkey substations and power infrastructure projects, Hartek Power will provide complete turnkey solutions for these projects and execute post-inverter works covering the design, engineering, supply, installation, automation and commissioning of the power plant electrification.

Known for its expertise in executing solar EPC projects, Hartek Power has installed substations for 258-MW solar projects since it entered the business three years ago. Going by the sizeable orders bagged by it this time, the company has raised the bar and set a target of connecting 500-MW solar projects to the grid in FY 2016-17. Hartek Power has done well to cash in on the solar overdrive that the country has shifted into since the government revised the National Solar Mission target for 2022 last year from 20 GW to 100 GW.

“Given the upbeat market sentiment, the renewed focus of the government on solar power and our unmatched expertise in providing grid connectivity to solar projects, we are expected to cruise to this target quite smoothly. Our commitment to quality and timely execution of projects has won us the trust and admiration of key developers in the Indian solar space,” said Hartek Power Chairman and Managing Director (CMD) Hartek Singh.

Starting the year on a positive note by bagging 330-MW solar EPC orders in the first quarter itself, Hartek Power is looking to build on this momentum to accelerate its growth. “Having already made our presence felt in the Indian solar industry, which offers enormous business opportunities, we are now eyeing a considerable share in the country’s rapidly growing solar market,” said Hartek Singh.

Entering the solar EPC domain in 2013, Hartek Power commissioned substations for 45-MW solar projects in the very first year. In the following year (2014-15), the company executed EPC orders for 90-MW solar projects, taking the figure to 135 MW, a threefold increase. Hartek Power further consolidated its position in FY 2015-16 by providing grid connectivity to 123-MW solar projects spread across Punjab, Rajasthan, Andhra Pradesh, Bihar and Karnataka, thus enabling the company to register a nearly twofold increase as compared to the overall figure in the previous year.

India’s installed solar generation capacity has gone up from 2.5 GW to 7 GW in a matter of just two years, offering a huge scope for growth to firms like Hartek Power.