EQ In Exclusive Conversation With Mr. Honey Raza, Sales Head – Ginlong (Solis) Technologies – EQ Mag Pro
Q.1 What is Ginlong Solis’s highest commissioned capacity in India?
At present in utility we are having 70MWs plant which is getting part commissioned in Assam. Considering the rooftop installation we have various 8MW to 10MW plants which are running very well across various geographies of India. Total capacity is now 2GW with more than 1 lakhs of inverters supplies so far. Globally we have supplied 20GW+ shipments.
Q.2 What new products will Solis introduce to its Indian customers? What are the key products introduced in India Renewable Leadership Summit?
Recently we have launched our off grid product in the range of 4k – 5k. These product are the having top notch design which can support Solar PV, Grid or any other generation source and External Battery pack. It can operate in conditions where there is no grid at all and can also be used to optimize the overall system efficiency by drawing minimum power from grid with no export. Another advantage for these products is the compatibility with both Lead Acid and Li-on batteries with a variety of battery brands . Product is also having the most required feature of one click fast charging. It Supports 1PH Parallel Connection- Support max 1p units parallel connection on 1PH System & Support 3PH Parallel Connection- which Support Balanced/Unbalanced parallel connection on 3PH System. Max total 10 units per system.
Q.3 Will EVs become a viable choice for mass adoption in the absence of cheaper energy storage technologies?
I think with the new policy liberalization on EV Charging stations from the central government, the flexibility of setting up the EV charging station shall be eased which is a step closer towards mass adaptation. Also I am counting on the PLI schemes to make a sustainable eco system for energy storage technologies.
Q.4 Which technology, in your opinion, will lead the solar inverter industry in the future?
I still perceive Grid Tied segment to perform well as compared to other technologies. The reason is evident from the fact that the current storage capacity is limited also the technology is already proven one. The rooftop has great penetration because of various support reasons be it a land or system’s modularity. Simultaneously Utility projects are very well adoption the string inverters which can provide better efficiency and optimize the overall O&M cost. This translates in lowering the LCOE cost of the plants.
Q.5 What is the highest rate of Solis inverter performance? Do these inverters perform equally well in all weather conditions?
All the inverters from Solis are tested under extreme test conditions like temperature test like heat run or extreme cold conditions. Solis Inverters are designed to endure these climatic extremities. We have experience of working in most toughest terrains or the world. Parallelly we are regularly sharing our knowledge sharing segment where installers and end users can get to know the best practices for handling such equipment.
Q.6 Do you detect any significant distinctions between the Indian and other large markets when it comes to inverters? What do you consider to be your most significant market challenge?
India has done very well last year in 2021 if you compare with US or Australia. Europe, Brazil and China Domestic market is still doing well which has support us in overall better revenues. We expect there would be a slight slowdown in Q1, 2022 due to the expect BCD on modules announcement but despite this I am bullish on the total installation to be done this year. Certainly, it would take some time to overcome this taxation change. Overall around increase of 30% capacity as compare to last year, would be figure which would be decent one.
Q.7 Can you tell us about Ginlong Solis’ response to the COVID19 pandemic, the following lockdown, and any financial consequences?
During the reporting period, COVID-19 brought some inevitable pressure and challenges to Ginlong Solis. However, the company’s capacity rapidly recovered increased to seize more domestic and foreign market share through the positive response of the company.” Ginlong Solis pointed in the announcement that due to the recent rapid recovery of overseas market demand, the shareholders of listed companies will increase significantly during the reporting period.
As a leading manufacturer of string inverters, Ginlong Solis has achieved steady growth in recent years. In Q3 of last year the company reported its strongest ever quarter. Yiming Wang, the president of Ginlong Solis, said that the company has launched some new products since Q3 of 2019. At the same time, the company promoted sales in traditional and emerging markets with marketing channels and marketing teams. Solis expansion into overseas markets continues to increase with the growth of Ginlong Solis’s overseas offices, the company’s product improvements, new technology response and competitive prices. As a result, , Ginlong Solis boosted its global market share.
In Q3 of 2020, since there is no time limit for pre-installation of residential systems, the average monthly installation numbers continue to grow. Sales of commercial inverters are growing rapidly as component and system costs continue to come down. “We expect several markets may exceed 1GW each year, and there will be a gradual improvement over time as installations accumulate and years of use grow.
Q.8 What are your plans in India over the next two years? Is there anything new you’re intending to release in the first half of 2022?
We are aggressive about the India market and so is the response. We are very strong in residential and C&I with the total installation, that’s why we are the No 1 Solar Inverter Company of India, and achieved almost 80% growth as compared to last years overall. Projects with our utility product of 255k picking up very fast with total installation around 300MW by FY 2021. Next two years we are planning to achieve 80% to 90% growth. This year we are also in process to launch many more products in storage and Utility segments. Utility product shall be of higher capacity than our present product with more advanced features.
About Ginlong Technologies:
Established in 2005, Ginlong (Solis) Technologies (Stock Code: 300763.SZ) is one of the most experienced and largest manufacturers of solar PV string inverters. Presented globally under the Solis brand, the company’s portfolio uses innovative string inverter technology to deliver first-class reliability that has been validated under the most stringent international certifications. Armed with a global supply chain, world-class R&D and manufacturing capabilities, Ginlong optimizes its inverters for each regional market, servicing and supporting its customers with its team of local experts.
