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Surana Ventures floats subsidiary for solar projects

According to reports, Surana Ventures Ltd is setting up a factory here to make solar-power units that can be installed on rooftops.

Part of the Hyderabad-based Surana Group, the company is in the process of setting up a chain of about 200 outlets in the country to offer solar-power-based installations on a turnkey basis and other solar products, Group Managing Director Narender Surana told Business Line.

“The company is in the process of installing their module and cell manufacturing unit at the Fab City with an outlay of Rs 90 crore. The manufacturing unit will make us extremely competitive in the market place. We have purchased equipment from Scott Solar,” he said.

The retail rooftop pack comes at Rs 75,000 for a kilowatt unit. This unit powers about 10 LED lights, four fans, one fridge or a computer. This is ideal for locations with huge power shortage.

The company has also developed pack for solar-powered pumps. These run on 5-kilowatt units. These installations pay back to the customer within 18 months, he said.

The company is in the process of bidding for solar-power projects in Andhra Pradesh. This will be in addition to the two 5 MW units it is building in the State.

Another Group company, Surana Telecom, has installed a 5-MW unit in Gujarat and is setting up another such unit, he said.

Surana Ventures posted a profit of Rs 95.63 lakh for the third quarter ended December 31, 2012 against Rs 10.5 lakh for the year-ago period. It logged a turnover of Rs 29.66 crore for the third quarter against Rs 27.08 crore.

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