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Jakson Power to invest Rs 7.5 billion on solar energy solutions

According to reports, targeting to double its revenue to Rs 2,500 crore by March 2016, Jakson Power Solutions plans to make a fresh investment of Rs 750 crore in providing solar energy solutions across India in the next three to four years.

The company has so far invested Rs 200 crore on its 20 megawatt (MW) solar power plant set up near Jodhpur, Rajasthan, Sameer Gupta, Managing Director, told Business Line on Tuesday.

Now the 66-year-old company is focusing on scaling up its solar power portfolio to 100 MW in the next three to four years. The Rs 750-crore investment would be for expansion of this capacity, with the debt-equity ratio being 70:30. Jakson Power has tied up with Standard Chartered Bank, Singapore, for getting funds through the external commercial borrowing (ECB) route. Out of the proposed float, it has got about Rs 70 crore through this route for its next 10 MW project in Uttar Pradesh, he said.

The privately held, Noida-headquartered company has four manufacturing plants at Jammu, Daman, Kalsar (Gujarat) and Greater Noida, established with an investment of Rs 300 crore. The first three of these plants manufacture silent diesel and gas-based power generation sets, whose combined capacity is being increased from 9,000 to 15,000 sets per annum. The Greater Noida plant manufactures solar and power distribution products.

The company recently started manufacturing generating sets at the Kalsar plant which is India’s largest integrated DG set manufacturing facility. It will also focus on manufacturing special application generating sets, like those used in defense-related areas.

The range of diesel generators spans from 7.5 KVA to 3,000 KVA. The plants at Kalsar and Daman would be manufacturing generating sets up to 250 KVA capacity and higher capacity would be produced at Jammu plants.

Jakson Power’s current order book is worth about Rs 300 crore for the next months, he added.

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