Hartek Group's Vision for Power and Renewables in India
Key Ideas
- The Hartek Group manages a 10 GW energy portfolio, focusing on grid connectivity and renewable energy integration to support India's shift to sustainable energy.
- Their target is to achieve Rs 100 billion in revenue by 2030, emphasizing expertise in constructing substations and large-scale solar projects.
- The company has shown strong financial performance, with revenue doubling from Rs 5 billion in FY 2024 to over Rs 10 billion in FY 2025, driven by diversified sectors.
- Updates include the commissioning of a 300 MW solar project in Rajasthan and participation in a critical 765 kV substation project for Power Grid Corporation of India Limited.
In an interview with Power Line, Simarpreet Singh, Executive Director and CEO of Hartek Group, highlighted the company's recent accomplishments in the power and renewable energy sectors. The group manages a 10 GW energy portfolio, contributing significantly to India's power infrastructure by enhancing grid connectivity and integrating renewable energy sources. Their revenue target of Rs 100 billion by 2030 aligns with their focus on expanding in the renewable energy space and executing key projects like substations and solar EPC projects. With a strong financial track record, including doubling revenue from FY 2024 to FY 2025, Hartek plans to reinvest profits for sustainable growth. The company's recent projects include a 300 MW solar plant in Rajasthan and a 765 kV substation project for Power Grid Corporation of India Limited, showcasing their commitment to India's energy transition. The article also discusses trends in solar EPC margins, EPC cost trends for different solar projects, and challenges posed by fluctuating input costs. Despite temporary cost increases, the solar industry in India remains optimistic, with innovations expected to stabilize or reduce EPC costs in the future.
Topics
Utilities
Renewable Energy
Financial Performance
Solar Projects
Digital Technologies
Power Infrastructure
India's Energy Transition
EPC Players
Cost Trends
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