Solar Energie Technik eyes `100 cr turnover in 3 years

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Solar Energie Technik, a new entrant into lighting business, which has designed, developed and started manufacturing Solar EcoLED lamp, is targeting sales turnover of over Rs 100 crore in the next three years.

“We have developed a product which combines the synergy of low watt high lumens LED lighting with the state-of-the-art solar to electrical energy conversion and storage technology of PV panels and lithium ferrous phosphate (LFP) batteries,” Shrikant Pittie, president and CEO at Solar Energie Technik told Financial Chronicle. The product will be sold under SaiJyoti brand and targeted at rural and semi-urban pockets in the country, he said.

The Pune-based firm has set up an assembly line at Wagholi, near Pune with an initial investment of Rs 5 crore and imports components from vendors.

Pittie said SaiJyoti Solar EcoLED lamp comes with an innovative flexible stand and a holder for the panel. “This lamp can be hung from the ceiling or from the walls or used as a table lamp and even as a hand held torch,” he said. The lamp ensures full room lighting equivalent to a 40W GSL bulb, with no dark areas observed in the solar lanterns sold presently in the market, he claimed.

The new product comes with a solar mobile charger and carried a sticker price of Rs 2,499. Pittie said the photovoltaic panel collects maximum solar radiation and optimally charges the battery to provide customers flexibility of daily usage from six to 12 to 24 hours.

“First, we will target the rural market in Maharashtra and go pan Indian in the next two-three years,” Pittie said. The firm will produce 10,000 units of SaiJyoti per month and increase it to 100,000 units per month within a year. “We are confident to touch sales turnover of over Rs 100 crore within three years,” Pittie said.

“Every household in rural India spends on average minimum kerosene worth Rs 200 per month to light the house at night which will be saved with this new lamp,” Pittie said. He said at present the firm has 100 distributors and 2,000 dealers, which will be doubled next year. The firm also sells LED bulbs, tube lights, street lights, and office luminaries.

“By March 2013, we plan to produce Solar UPS home lighting range for urban markets and stand alone UPS with induction cooker for rural households,” Pittie said. He said the solar UPS range under Infinity brand will provide power for 24 hours a day and the backup could be local utility during prolonged rainy or cloudy days.

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