EQ In Exclusive Conversation With Mr. Honey Raza – Head Sales at Solis Inverters
- How much Inverters have you supplied to India till now, what is the target/expectation in 2020-2021
Till date we have sold 800MW+ of string inverters. The target for this FY is 400MWs but due to present situation of COVID19 there could be slight deviation of 5% to 10%.
- Please share your Road Maps – Pricing, Technology etc…
Pricing in the market is already in the consolidation phase so it is difficult to talk about any further reduction. Yes as the technology is evolving at the fast pace so there could be slight correction on the per watt rates. The proportion of the string inverter continues to increase. With the continuous progress of technology, the cost of string inverter drops rapidly, gradually approaching the cost of central inverter, while the application of beneficiary string inverter in the central and eastern regions is gradually expanding, the distributed application field is increasing, which will maintain rapid growth and the market share will be further improved. In 2019, the proportion of string series inverter continues to increase to 52%.
- What are your views on BIS and other tariff barriers
BIS is a good step by MNRE towards Indian standards of inverter segment. At the same time there should have been more infrastructure availability along with better ITES which shall automate the backend work of documents processing. The system in place is also good but there is lot of scope of improvement in terms of the facilitation side.
Any Tariff barrier is not favorable at this point of time due high targets and also present situation of developers. Having said that we also have to see that present solar inverter manufacturing is in infant stage notably in India hence in the short term this would have an impact on the deployment of solar projects as well as the PPAs. Of course in the long term vision this would attract considerable international as well as domestic players to start the manufacturing setup.
- What are your views on Inverters – Make in India
For the healthy and sustainable development of any industry, trade barriers should be broken, advanced technologies should be introduced from overseas, and technological progress should be driven by market competition, so that world-class products and technologies can be used at the application end, so as to achieve orderly, healthy and sustainable development of the industry.
- World Market Scenerio including China and its impact on pricing and availability of inverters in 2020-2021Expected Pricing & Availability in 2021 ?
SOLIS inverter still has space for technological innovation. In the next 2-3 years, our price will be further reduced along with technological innovation, so as to improve the cost performance of the product, so that customers can enjoy the most favorable price while using first-class products.
We are pioneers in introducing the multiple MPPT inverters in Sept 2015, we are proud and obliged to serve local projects like DMRC, IIT Kanpur, IIT Delhi, IGI Airport, TATA Motors, Andaman & Nicobar and many more which are powered using Solis inverters.
- What according to you is the current opportunities, biggest challenges, in Indian Solar Market.
Industry is having tremendous opportunities as the world is more concerned about the future and climate change which was earlier only talked at International arenas. People are more aware about the disasters and benefits for the green energy. I am sure similarly like us the enquiries during the lockdown had increased. Certainly this will have a positive impact on the overall industry towards the motivation and sentiments.
Challenges are minor like the clarity on the policy and tariff front. This transparency shall boost the industry.
- Expectations from Indian Government Budget next year ?
GOI has done a good job by their continued support for the industry even during these hard times. Certainly some points as I have mentioned earlier regarding the transparency and clarity can boost the sector to new horizons.
- Aggressive Bidding despite of many challenges enlisted above, what is your view/opinion
Projects are having the life time of 25 years developers are well aware about the long term goals. Pandemic would have certain constraints in short term but would overcome by the time.
- Kindly enlighten our readers on the performance of your Inverters in India in various geographic locations, customer feedback,.
We are pioneers in introducing the multiple MPPT inverters in Sept 2015. Through the trust of EPCs and developers now these inverters are giving better returns as compared to normal string inverters.
Customers feedback are very important for our own internal assessment and improvements in the product. As on date all the customers are satisfied and through this satisfaction level we earn the repeat orders from them.
- Present some noteworthy projects, case studies of solar plants built using your solar Inverters.
We are proud and obliged to serve local projects like DMRC, IIT Kanpur, IIT Delhi, IGI Airport, TATA Motors, Andaman & Nicobar and many more which are powered using Solis inverters.
- Please describe in brief about your company, directors, promoters, investors, its vision & mission.
Established in 2005, Ginlong Technologies (Stock Code: 300763.SZ) is one of most experienced and largest manufacturers of solar inverters.
Ginlong’s cost-effective solutions for residential, commercial, andutility-scale users deliver value at every level of the solar supply chain, engaging both homeowners and businesses, as well as power producers and renewable energy investors across the globe.
Presented under the Solis brand, the company’s solar inverter product line uses innovative string technology to deliver first-class reliability, validated under the most stringent international certifications.
Combining a global supply chain with world-class R&D and manufacturing capabilities, Ginlong optimizes its Solis inverters for each regional market, servicing and supporting its customers with its team of local experts.
Proven bankability has attracted support from world leading financial institutions, ensuring solid long-term returns on investment. Working with stakeholders to accelerate the worlds journey towards a more sustainable future.
- What is the size of your company in terms of manufacturing capacities, growth chart, future expansion plans, revenues, shipments, ASP’s, financial figures,
Fully automated manufacturing plant with 20+ GW capacity opens in Ningbo in 2021 Q1 which is currently 5GW. Solis is the first inverter manufacturer passed DNV•GL PVEL reliability testing in the United States and its proven bankability has attracted support from world leading financial institutions, ensuring solid long-term returns on investment. Working with stakeholders to accelerate the world’s journey towards a more sustainable future. Ginlong Solis H1 reported operating income was US$106.6 million, an increase of 76.73% year-on-year. The net profit attributable to shareholders of the listed company was US$17.3 million, an increase of 281.87% year-on-year. We are proud of we ranked top 2 Global single-phase string market share by shipments in 2019 (MWac)-Wood Mackenzie
- What are your plans for India, your view on the GOI target of 100GW Solar Power by 2022
Facing a rise in the global string inverter market, Ginlong will double its production capacity of Solis products to 20GW per year. This expansion will enable Solis to boost its supply to grid-connected and solar-plus-storage projects for customers world-wide.
- How much is your R&D budget as % of your sales / profits
2020H1 R&D spending increased by 89.2% over the same period last year
- What are the top 5 markets for your company in the past, present and future
Brand is the company’s core competitiveness, Solis has been sticking to independent brand strategy is executed in the domestic and foreign markets, with the expanding of the company in recent years, Solis have been sold to the United States, Britain, the Netherlands, Australia, Mexico, India and other countries and regions in the world, in the industry have high visibility and reputation.
- Technology road map in terms of 1500V , micro inverters, upcoming game changes technologies.
Our new 255kW – String inverter is second product in 1500V after 125k which was launched last year. The performance and reliability of both the products in this segment is tremendous. These product are advanced in technology. Developers are now interested more towards future ready solutions with advance monitoring control.
- Kindly comment of Energy Storage as a game changer, its technology, cost trends…etc…
We are keen and have strategic view regarding storage. Recently we have introduced two products. First is in the Residential and commercial segment where we have launched lead acid compatible hybrid inverters from 3kW to 5kW Low Voltage and from 5kW to 10kW High Voltage for certain countries. The increasing in the demand shall put some corrections in the rates of Hybrid inverters.
- Explain various guarantees, warrantees, insurance, certifications, test results, performance report of your inverters
We are currently offering 5 years standard warranty which can be extendable in 5 years slots up to 20 years.
More than 20 People in service are supporting our clients for resolving their issues and dedicated service call center is first of its kindly which provide customer telephonic support whenever required. This service activity is having a strong backup with integrated warehouse establishments. Even during COIVD situation our service personals have support all the existing customers for any support. Site visits are done with all the precautionary steps and safety gears prescribed by authorities as well as by our own internal advisories.
We are also now BIS certified for all the range from 1kW to 80kW, new models like 100k & 110k are also under testing at BIS labs.
Solis in-country inverter experts committed to your success: Hassle-free service delivered by local technicians available by phone 224 9744 021 and on-line. Solis three-step after-sales support defines service excellence, 2h response time, 48h replacement and 48h on site support.
- What are the trends in new manufacturing technology equipment, materials, processes, innovations etc…
Ginlong has always spearheaded the innovation. Very shortly we will be ready with our new monitoring platform which will be more advanced from our present portal. On the product front the retrofit storage solution for the utility scale plant prove to be the need of time.
