With a strong 23-year track record in the PV space, Sungrow products power solar installations in over 120 countries. Sungrow has now cumulative installations of 120GW+ worldwide as of June 2020.
Q.How much do you think SUNGROW expanded in India and as well as global market till now?
In India, Sungrow is continuously expanding its scale at a faster rate as the shipment crosses 5.5 GW recently. We have also secured 1GW+ of orders which shows the healthy pipeline for coming quarters. With the advantage of a 3GW local factory in India running for more than two years, Sungrow has been able to capture more market by offering both Central and String inverters as per the local requirements.
Globally, Sungrow has more than 15% market share consistently over the years. Despite the ongoing challenges, Sungrow delivered an impressive result in 1H 2020. Sungrow’s revenue increased by 55.57% year-on-year (YoY) to US$ 987.2 million in 1H 2020, while net income grew by 34.13% YoY to US$ 63.4 million, due to strong performance in across the continents.
Q.Please present case study of few noteworthy projects executed by your company in the distributed solar space?
Sungrow has steadily consolidated its position in India’s rooftop market and has No.1 position with more than 19% of the market share, as per a recent report. Sungrow has supplied its PV inverters to many landmark rooftop projects in India. Sungrow inverters are installed at more than 50% of solarized Indian railways stations, various metro stations like DMRC, Hyderabad Metro etc. Other few more examples are including but not limited to hospitals, automobile sectors, retail chains, pharma, and various many other industries.
4.What are your USP’s and differentiating factors as compared to your competitors?
Though there are many differentiating factors, the major ones are
a)Sungrow is the only supplier which has 100% bankability track record for two straight years and holds the No.1 position as the most bankable brand as per BNEF. This clearly shows the trust and confidence by the lending institutions to give non- recourse term loan for the large scale projects anywhere across the globe.
b)Sungrow is the only company which has very focused approach with 100% of its business being into renewable industry.
c)It has the largest R&D team in the industry with more than 40% of its total employees in Research and Development division.
d)Sungrow has the highest production capacity of 50 GW per annum to develop cutting edge products in time to meet the rapidly growing solar energy demand
e)Sungrow in India has the biggest service team in the industry along with dedicated service warehouses, local repair & maintenance centers at key locations, and 3rd party service partners to provide high quality and responsive support
5.Give us an overview of the company’s presence in the energy space? What are your expansion plans in India?
In addition to PV Inverters, Sungrow has also significant presence in the renewable energy space with a wide range of products including energy storage systems, electric drive system for new energy vehicles, wind energy converters, floating photovoltaic system, and smart energy operation and maintenance services etc.
As we already have a 3 GW established local factory running in India, we are planning to expand it in future as demand increases and to provide more and more local products for our Indian customers.
Q.What is your outlook for the power sector for the next few years and SUNGROW’s role in it?
We are seeing that, the portion of Renewable energy in Indian Power sector is growing day by day. With major thrust from the Govt towards a target of 300 GW solar power by 2030, we are highly optimistic about Indian solar sector for this decade. With more RE power coming to the grid, battery energy storage would become essential for various grid management and ancillary services. Sungrow being the pioneer in Power conversion technology and leader in PV Inverter and Energy Storage Systems, we are committed to play our part to achieve a sustainable energy security for India while contributing to build an Aatmanirbhar Bharat.
7.COVID-19 has spread over a large part of the world. What has been the impact on your business operations as a result of the coronavirus outbreak?
Though Covid has been a significant challenge, it has limited impact on our business so far. With a lot of streamlined and preplanned actions, followed by stringent measures at our factories, we were able to manage our supply chain and navigate through the situation to keep supporting our customers.
Q. What are your initiatives towards CSR?
Sungrow actively assumes social responsibility while pursuing economic benefits. We earnestly practice the social responsibility concept of “Green Mission, Better Life”. In India we are engaged with various educational institutions where we do regular knowledge building sessions. We have also carried out tree plantation programs in different cities to mitigate the climate change effect.