Energetica India Magazine December 2020

rating and saving on the BOS end. According to the new Energy Outlook data of Bloomberg New Energy Finance in 2019, the global energy storage will see the first round of rapid growth from 2020 to 2025, and the CAGR will reach 39 per cent from 2020 to 2025. After a brief decline in 2026, the energy storage will continue to grow. Starting from 2030, the installed capacity of new energy storage will keep above 30GW per year. Following the global photovoltaic development trend, Solis will focus on the development of energy storage products in the future, such as energy storage all-in-one inverter, off-grid energy storage inverter, etc. Recently, Ginlong Solis reported strong third quarter results despite Covid-19 pandemic situation, what factors you feel contributed for the same? H oney R aza : Yes last quarter has been good and further we look to strengthen our top line for the last quarter. Top reasons which made us realize this are: Reliability: • Third-party validated reliability leads the pack: • Less than 0.2% failure rates reported in the independent DNV•GL reliability audit, • Top-of-range Lifespan Projection in String Inverter Category as Validated by DNV.GL , • 100% of inverters produced are duration-tested before shipment to reduce failures during installation, • The only inverter company to receive EUPD awards for 4 consecutive years Bankability: • Financial and manufacturing strength is widely recognized among leading financial institutions • 2020 Q1-Q3 reported operating income was US$202.4 million, an increase of 74.31% year-on-year • Manufacturing capacity of 5 GW with an expansion to 20 GW in 2021 • Endorsed by BloombergNEF as a top 3 bankable Asian inverter brand • Listed by leading US banks and financial institutions including BoA, JP Morgan Chase, Mosaic, Sungage Financial, Dividend, Sunlight Financial, etc. Local Service • Hassle-free service delivered by local technicians available by phone and on-line • Solis three-step after-sales support defines service excellence Has the working culture of businesses changed with the ongoing pandemic situation? How do you provide any maintenance or some emergency support to customers these days? H oney R aza : There is a paradigm shift in the approach, people are opting more and more for virtual meetings and sessions. Business process is including precaution and risk management as most crucial part of the organization. Despite this pandemic our team members are supporting day and night to the customers for their needs. Wherever it is required to send the person, we take one step further for the site visit with all precautionary measures. Logistics cost and transit time has been increased which is still taking time to streamline as per pre COVID era but yet improvement is significant. We are also making strategic tie ups with service provider for remote location technical support and site visits, this shall further fortify our service strength and reduce the downtime to minimum. Since the rise of string inverters, there has been competition in both energetica INDIA- December_2020 23 INTERVIEW