Shrijee Group looks for a strategic investor for their Solar Structures business

Mumbai based Shrijee Group has announced that it is looking for a strategic investor for their solar structures business. Shrijee Solar Structures has a 47,000 square meter factory (near Pune) dedicated for the fabrication and hot-dip galvanizing of solar structures.

As per Shrijee’s internal estimates, the domestic market size of galvanized steel structures for solar industry is expected to be INR 11,450 crores from 2016-2019. This does not include any export opportunities.

Shrijee has supplied various types of solar PV mounting structures such as fixed-tilt structures, manual seasonal tilt structures, single axis and dual axis trackers. Shrijee has worked on MW as well as kilo-watt scale projects. Shrijee has the experience of working on various roof-top PV plants. Shrijee’s optimized structure designs are safe and cost-effective.

Shrijee has manufactured various types of CSP solar structures based on different designs and technologies. Shrijee is the first company in India to supply structures for a concentrated solar power plant. Shrijee has successfully supplied CSP Solar mounting structures which include cantilever arms, cantilever arm glass brackets, torque box frames, drive pylons, shared pylons and HCE support brackets. In addition to supplying structures, Shrijee has also done the mechanical assembly and installation of the structures at the solar site. The installation of reflector mirrors and drive hydraulics was also completed by Shrijee. Shrijee has supplied CSP structures for projects in USA, Canada and Turkey.

Shrijee’s solar clients include: Abengoa, BHEL, Bosch, Lauren-Jyoti, Lanco Solar,  Thermax, Infinite Ercam, Punj Lloyd, Mahindra Solar, Tata Solar, Nuevo Sol and Sunborne Energy.

In addition to solar structures, Shrijee has a successful track record in supplying tower structures, substation structures, and telecom towers. Shrijee has supplied substation structures to countries such as Ghana, Zambia, Kenya, Zimbabwe, Mali, Côte d'Ivoire (Ivory Coast) and Congo in Africa and to Laos and Thailand in South-East Asia.

Shrijee’s tower clients include: L&T, Jyoti Structures, Emco Ltd, Bajaj Electricals, Angelique International&BGR Energy.

Shrijee believes that India can be a low-cost manufacturing base for solar projects in North America, Africa and Middle East. Shrijee has several inquiries for supply of galvanized structures to those regions.

However, to go forward, the Shrijee Board believes that it needs a strategic investor who can help with technology transfer, branding, international business development. This investor can also help to finance the expansion and up gradation of production capabilities.