Navitas Solar

Post REI Special

REI Special "Brief"

MR. VINEET MITTAL

CO- FOUNDER, DIRECTOR NAVITAS SOLAR

In a remarkable and short conversation with Mr. Vineet Mittal, Co- Founder, Director, Navitas Solar, and knowing more about the insights of REI-2022…

Expectations from REI 2022

Mainly the expectations to meet our old network. This was after 3 years and we were not able to meet physically. It was always on phone and Zoom calls. So, the main idea behind it is to meet people personally and just get back together after so long.

Footfall

We are not able to take count, but it has been an amazing response and we have not got enough time to take rest, so, I mean, the response has been remarkable.

Product Launch

We are displaying three new products here. One is our latest range of solar modules. It is called Bonito. We are displaying our mono-PERC half-cut modules ranging from 450 watts going up to 550 watts and in the future we are going to do 670 watt peak and above modules, so that is one. We are displaying our latest range of EVA sheets, which are encapsulant for solar modules, under the brand name Navitas Alpha, and then we are also showcasing our entry into another storage with ESS packs for 20 kWh and EV two-wheelers. Two platforms are called Groot and Alpha. They are going to be used by the OEMs for two-wheel electric vehicle applications. New & Current opportunities for solar industry

In terms of technology, the market is moving towards bi-facial, half-cut, trackers, and in terms of inverters, people are talking about very large-scale inverters or micro inverters. In terms of energy storage, a lot of things have been discussed for the C&I segment, for peak load sharing, so many things in the storage space and obviously in the electric mobility space. The whole market is evolving. Now people are looking at real performance, mileage and safety.

New technology

Increasing the efficiency of the solar modules with the same module space requires the latest modules, which are N-Type, mono-PERC or may be HJT in the future, so we are working upon those for coming years. We've got plans for expansion. In EVA manufacturing, we are going to launch POE, which is used for dual glass modules, and in the EV space, we are going to launch our own set of BMS applications. The overall design and development of the software and hardware on the BMS front will be in-house based on which we are able to offer ESS applications completely in-house, which is almost new in the industry.

On how REI is going to support Navitas Solar

People come from abroad. REI is a platform for us to meet people, display our products and our capabilities. They are doing a good job of assembling people from all over the country and people are coming from abroad. It's a good platform to meet up with existing networks and develop new networks.

Message

Customers are becoming more aware of the quality. They are looking for good quality in the long run and then choosing their product, not just thinking about the price. There are a few new players who have entered the market and their focus is to make money in the short run. That might not be a good strategy to be here. Solar is a long term play; it's not something where you can make quick money being in the industry for 10 years. We understand that people need to have lots of patience here and then work upon their brand building or goodwill, and that can only happen if you only offer good quality products or services to your customers and make sure the customer gets value for the product. Once you do that, then it's a good business to be in. RM

1500/- 2900/- 4000/-