Based out of Nagpur in Maharashtra, Indian solar module manufacturer Novasys Greenergy Pvt Ltd believes the strong government push for solar PV technology has heightened investor interest for the market and turned it into a sellers' market, from a buyers' market earlier.
Novasys currently operates a production line with an annual capacity of 300 MW in Nagpur from a facility spread across 220,000 sq. ft. which is expandable to 500 MW. However, speaking during the REI India show to TaiyangNews, the company's AGM (Marketing & Sales) Pratik Joshi said it is planning to scale up to 1 GW in the near future.
The company currently rolls out mono PERC and bifacial technology modules with the highest power rating of up to 600W for its Alpha Plus Series. It deploys multi busbar (MBB), half-cut solar technology on M10 wafer sized cells. The company also operates in the space of EPC.
Speaking about the general market scenario, Joshi said protective trade tariffs on imports from China are bearing fruit and with low-cost competition having come down, Indian manufacturers are now at a place to command a price and put in their terms and conditions as well.
As for prices, the company said these haven't changed much in the last 3 months indicating stabilization. He believes prices are likely to slowly start coming down from March 2023.