Nuevosol Energy aims to double turnover this fiscal

Hyderabad, May 5 (IANS) Nuevosol Energy Pvt Ltd, an emerging player in solar power industry, said on Thursday that it is looking to double its turnover to reach Rs.400 crore during the current financial year.

The Hyderabad based start-up, which has brought in a scientific approach to create innovative and efficient solar mounting structures, also said it aims to reach Rs.600 crore in 2017-18.

The company, which has become a leader in mounting space within a short span of four years, had Rs.175 crore revenues in 2015-16.

Founder and CEO Himamsu Popuri told reporters here that this is the first company toA successfully reach 1 gigawatt capacity.

Nuevosol currently has installed capacity of 1.35 GW of turnkey mounting structure projects, for more than 50 EPC companies and developers, in over 140 projects, spanning across 20 states.

The total installed capacity in mounting structures space in the country is 6.7 GW.

Popuri said Nuevosol is a pioneer in seasonal tilt structure designed for optimum energy generation and contour following structures, and claimed that most of its solutions have become the benchmark in the Indian solar industry.

–IANS

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