Que: Amplus Solar is a distributed energy company providing solar energy solutions to customers. Could you shed light on your market footprint and major clientele?

Ans: Amplus Solar takes immense pride in being Asia’s foremost provider of distributed clean energy solutions, with a primary focus on serving commercial and industrial customers. While our journey began with providing solar energy solutions, we have since embraced a holistic approach in our pursuit of a net-zero future. Today, apart from the plain vanilla onsite and offsite solar solutions, we offer multiple clean energy solutions across technologies and structures, including RTC solutions (solar-wind hybrid), battery storage, distributed green hydrogen, residential solar, CFD contracts, VPPA, remote energy monitoring solutions and electric vehicle-based logistics solutions. We aim to contribute significantly to the sustainable energy landscape by diversifying our offerings.

Our portfolio (operational & under construction) stands strong at over 1.7+ GW spanning more than 600 projects across 24 states, serving more than 350 customers. Our clientele includes industry leaders such as ABB, Amazon, Carlsberg, Cisco, GE, Halliburton, Honda, Qualcomm, Reckitt Benckiser, Schlumberger, Schneider, TVs, Ultratech, Walmart, Yamaha and many others. Notably, we have experienced an impressive four-fold increase in our customer base from 2017 to 2023.

Que: Earlier this year, Amplus Solar announced an association with Everrenew to set up a 200 MWp wind & solar hybrid project at Tuticorin, Tamil Nadu. Tell us more about this project. How much electricity is it expected to generate?

Ans: Amplus is setting up its first co-located wind & solar project in Tamil Nadu. The project envisages supplying green energy to C&I customers in the state. The plant is expected to generate 450 million units of green electricity within its first year of operation. Amplus has engaged with Everrenew as a local development partner and BOS contractor for the said project.

Que: What is the scope and potential of wind & solar hybrid projects in India?

Ans: The potential for wind and solar hybrid projects in India is vast and promising. The country possesses abundant wind and solar energy resources, making them readily available to meet the growing need for grid stability, as sought by corporates and governments alike. This combination of resources ensures a continuous power supply, as one resource remains accessible even without the other, effectively securing customers’ energy requirements.

Furthermore, wind and solar hybrids offer cost-effective solutions by optimising the evacuation infrastructure between wind and solar plants. Considering reduced banking support from the government for vanilla solar projects, developers are increasingly switching towards hybrid solutions to fulfill customer demands within similar cost parameters.

Que: The company has diversified into new avenues such as battery storage, residential solar and EV-based logistics solutions. Please elaborate on these developments along with the vision of the company.

Ans: At Amplus Solar, our vision is always centered around providing fitting green energy solutions to the end consumers to help them meet their sustainability goals most efficiently and economically. In adherence to our philosophy, we have been augmenting our products and services in tandem with the technology advancements and consumer requirements. Our journey is a true testimony to our philosophy.

It is mandatory to couple the energy storage solutions with renewable energy to increase the dependence on green energy. In this regard, we have started extending small BSES-based energy storage solutions along with our onsite/offsite renewable energy solutions.

Recognising the need to reduce energy consumption, we provide remote energy monitoring solutions designed to optimise energy usage in commercial spaces, potentially reducing consumption by up to 20 percent. Furthermore, we facilitate International Renewable Energy Certificates(I-RECs), which supplement our existing solar strategy and contribute to our clients’ net zero goals.

Residential rooftop solar in India is seeing a gradual improvement. We see a great business opportunity in the residential solar space. Our goal is to bring tech-based residential solar solutions to customers.

Building on our expertise in rooftop solar projects, we are now extending our focus to the realm of green hydrogen. Amplus Solar was one of the early companies to systematically undertake rooftop projects using the RESCO (Renewable Energy Service Company) model. We have created a successful rooftop solar story by installing solar projects on customers’ rooftops, selling them power, and providing comprehensive operation and maintenance services throughout the panel’s lifespan. We see a similar business case in the distributed green hydrogen space. Through our distributed green hydrogen solutions, customers and businesses can produce hydrogen on-site using renewable energy sourced from a combination of onsite and offsite projects.

Que: Amplus Solar signs MoU with the Andhra Pradesh government to set up green hydrogen production plants. Please tell us about the deal along with the capacity and investment of the project.

Ans: This collaboration aims to establish distributed green hydrogen plants. With support from the AP government, we plan to put multiple distributed green hydrogen units within consumer premises across the state. We envisage an opportunity to set up a cumulative capacity of 7.5 KPTA, involving an investment of appx INR 1500 crore in the state.

Que: What are your views on the current renewable energy scenario in India? Can you identify the upcoming technology and key market trends for the solar industry?

Ans: The green energy transition in India holds tremendous potential for reshaping the country’s global standing. With power demand expected to triple by 2040, India can address this surge effectively. However, to fully unlock this potential, there is a need for policy certainty and incentivisation that fosters growth and attracts investments in the renewable energy segment.

Further advancements in tech and research and development are crucial for the sector’s progress. While the global solar industry is witnessing increasing efficiency and decreasing costs, India still faces challenges in terms of cost-effectiveness and availability of highly efficient panels.

Promising developments in solar technology include the use of nanomaterials to enhance solar cell efficiency, the emergence of transparent solar panels that seamlessly integrate into windows and other building materials, and the integration of artificial intelligence to optimize the performance of solar systems. Moreover, there is a growing range of use cases for RE, which is driving increased adoption. From solar thermal storage to advanced batteries, the energy storage space is seeing significant progress and innovation.