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The strength of the company is that we offer turnkey solutions and we are the true believers of MAKE IN INDIA.

1) Let’s begin with a glimpse of your company’s presence and offerings in India.

SmartTrak is the first Indian tracking company. It was established in the year 2010-2011. We have completed 6 years and we are the largest in terms of number of installations,275+ megawatts in terms of the size and number of Installations are more than 100 in terms of width and 75 out of that are only MW projects with SINGLE AXIS TRACKERS. We have a team size of 200+. The strength of the company is that we offer turnkey solutions and we are the true believers of MAKE IN INDIA. We manufacture most of the components that go into the making of a tracker. Generally, in the industry, it is outsourced but we have an integrated approach.

In terms of products, we have installed different products that are available under the tracker category and we were the first to install in India. We were not waiting for somebody else to come up with the solution in the product category. So we have today all the product offerings that is offered by different companies as one product in their category.

Whatever you find as a USP of the different tracker companies; we have all of them in our portfolio. So this is also one of our company’s strengths.

2) What have been some of the recent developments at SmartTrak?

From the innovation perspective, our latest bearing offering is one of our recent developments. It has been very much appreciated in the industry.

3) Could you tell us a bit about the recent technology advancements in the tracker sector?

It would be the bearing solution that we have come up with. The single bearing solution addresses all the apprehensions and the risks involved in a tracker installation. The rest of the technological advancements have already been installed by us.

4) What are your growth plans for the Indian market?

The Indian market is very huge today. It is already 10 Gigawatt in terms of the PPAs that have been signed or are being signed cumulatively with a vision of 60 GW given by our Prime Minister. So that’s the size of the market.

Tracker per say which was not looked at by any developer as one of the options maybe even three years back I will say, it is used to be a default for any developer till last year REI EXPO. Developer first used to look at the tracker and then only used to look at the other things, however this scenario has changed suddenly with the result of drop in module prices. This influence of lower module prices on tracker selection depends on the PPA terms, if there is no limitation of DC capacity in the PPA like in the case of Karnataka farmers and Pujnab, than the developer will be left with no option but to go with Trackers.

So it is driven by the tariff and PPA terms because the lowest tariff will need higher revenue and higher generation which is only made available by the tracker. It becomes so cost competitive that people will be looking at trackers as a primary option. For any reason, if tracker doesn’t suit their mix then only they will look for other options.

5) What have been the latest trends in demand for your products and services in India? Where do you see the next demand growth coming from?

Anyone who has a PPA today looks for a tracker. Within that segment, we are the largest. That itself speaks that our products are well sought after. Also, at a given point of time, one company doing multiple installations is a rare thing in the solar industry. In the last financial year ending, we had done 9 installations simultaneously in a tracker category. Today we have 30 installations being done simultaneously.

So, doing many installations tells you the robustness of the system within SmartTrak and the support that we get from the supply chain without which we cannot do multiple installations at a given point of time.

Our plants are performing consistently across years and sites. One of our plants achieved a PLF of 33% in a day and another plant achieved 2 Million units in a year per MW.

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