Reading Time: 6 minutes
-By the end of 2022, we are looking to be one of the fastest-growing solar distribution companies and also we want to be a player with interests and outlook in the EV space.
-We are looking forward to adding new products very soon and subsequently certain big announcements shall be made soon enough.
-On the solar front, we are looking to add certain new brands which would give us the impetus to get into big league distribution.
Please give us a brief background of yourself and your solar journey.
I am an engineer and MBA graduate from Mumbai University, completed my master’s in 2011 and took the plunge into the solar industry with my first job. I was always interested and inclined toward the Power & Energy industry and hence solar proved to be the right direction, a new and clean energy industry with immense potential and loads of learning scope.
Started my career with a Mumbai-based small EPC firm called Envirodyne Energy Systems which was also the first and sole distributor of RefuSol inverters in India at that point in time. From there on the journey took me to multiple module manufacturers with Waaree being the next stop, post that Chinese giant at that time Renesola, then one of the most reputed organizations in the solar industry REC Singapore and from there another Chinese giant ZNSHINE. This learning and experience of working with multiple brands combined with the motivation and skills of my partners in SPINKRAFT, Mr. Pravesh Bhargava and Mr. Ajay Patel who have been associated with me for a long and are part of my family convinced me to go ahead with the solar entrepreneurial journey and we are convinced that we shall achieve big milestones in coming years.
How is the year 2022 progressing for Spinkraft?
The year so far has been a mixed bag. The first half of the year was fantastic with imports rising to new heights as everyone had their eyes set on March commissioning due to duty implications that were supposed to be imposed from April. We were one of the many beneficiaries in that half of the year. The second half of the remaining part of the year so far has been a bit slow comparatively and which is true for the entire industry due to duty imposition but we have been holding our own and have been growing at some speed not only in terms of business numbers but also increasing our product portfolio and team size. Our long-term vision has enabled us to grow despite the hiccups being faced by the industry.
What are the products and services offered by Spinkraft?
We are currently focussing on Axitec and Eversola modules. Axitec which is a premium German module with a pan India presence and an excellent reputation with its Make in India programs and product range catering to the DCR section also is certainly going to be a module brand to watch out for in near future. Eversola is a Chinese brand with a focus to become one the well-known brands in the industry. They too are exploring options to make their product locally which is going to help us immensely. Accordingly, in inverters, we have Fronius which is a top European inverter manufacturer, a giant in the electronics and automation industry, and a well-known and well-respected product.
A brilliant product and brand with a presence across the country right from north to south. Apart from this, we have in our product portfolio certain EV-based products like EV chargers for which we have tied up with a Pune-based manufacturer cum investor and are looking at this segment as the one which will give us great impetus. Apart from this in the EV space, we have our own Lithium Ion assembly plant near Mumbai which will be sold under the brand FUEL ON, the facility is under establishment and the product outflow shall start soon. Also, we are looking forward to adding new products very soon and subsequently certain big announcements shall be made soon enough.
What are you aiming to achieve by the end of 2022?
By the end of 2022 we are looking to be one of the fastest-growing solar distribution companies and also we want to be a player with interests and outlook in EV space by end of the year, we shall certainly be a recognizable face in this space too. On the solar front, we are looking to add certain new brands which would give us the impetus to get into big league distribution.
Anything else you would like to highlight?
Certainly, I would like this opportunity to highlight my partners Mr. Ajay Patel and Mr. Pravesh Bhargav, Mr. Patel is the binding force of the team and Mr. Bhargava is the brains, muscles, and strategist of the team. Without these two guys who have been with me through thick and thin, this won’t have been possible. On the product front, we are increasing our product portfolio. We are talking to newer players to get into ESS, hybrid solutions, EV solutions, and other products. We will hopefully come up with multiple options in our product portfolio pretty soon.