Que: 2023: Unveiling Business Odyssey

Ans: Overall, the yearlong journey has been amazing for us. We, at Navitas Solar, have launched Bifacial and N-type TOPCon modules in the year 2023 that can generate power up to 720 watts per panel. Our manufacturing capacity will be increasing from 500 MW to 1.7 GW per annum. We have purchased the land and the construction work is going on this year. We have raised funds of USD 5 million and onboarded some investors in 2023.

In 2022, Navitas Solar had 500 MW p.a. capacity for module production. By the year 2023, we were able to expand the capacity to 1.7 GW p.a. As part of our EPC services, we are also looking for new opportunities and collaborations in solar park development. We have completed approximately 10 MW of projects under our EPC services.

Que: 2024: Unlocking New Horizons

Ans: In the upcoming year, our plan is to start production of Navitas N-type TOPCon modules and we would like to onboard big clients with this new technological shift in the industry. We will be able to manufacture modules up to 20 bus bars which can generate up to 720 watts per panel. We believe that N-type Navitas TOPCon modules will be the choice of consumers in the upcoming times.

Que: Navigating Growth: Ushering in New Trends

Ans: Poly crystalline modules are slowly becoming obsolete. Instead of that, Mono PERC modules are preferred by the consumers. The upcoming times will see the rise of PERC, HJT, TOPCon technologies and amongst them, we believe that TOPCon technology will gain more popularity in the future. Some of the driving factors in the solar industry are high ROI, reduction in capital cost, subsidisation of capital cost by the government, increase in grid tariffs, installation made mandatory by government in select states, cheaper and environment friendly option than DG set, increase in per capita income and significant increase expected in per capita electricity consumption.