Sameer Gupta, Chairman & Managing Director, Jakson Group.
Initiatives delivered intended results
Several important power sector reforms were introduced by the present Union Government since 2014 which have significantly transformed the power sector in India. These include the Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY); Ujwal Discom Assurance Yojana (UDAY) and Unnat Jeevan by Affordable LEDs and Appliances (UJALA) reforms.
Under the government’s flagship DDUGJY rural electrification program more than 14,000 villages in the country have been electrified in the past three years. The UDAY scheme aimed at financial turnaround and revival of electricity distribution companies in India has received the support of 27 states across the country. Under the UJALA scheme, more than 25 crore LED bulbs have been successfully distributed across the country which have resulted in large scale power saving. All these figures prove that all these schemes have delivered their intended results.
In addition, there has been significant thrust on adoption of renewable energy by the current government. It has set itself an ambitious target of 175 GW by 2022 which has resulted in tremendous growth of solar and wind power generation capacities in the country. The current installed renewable power capacity in India stood at approximately 58,300 MW of which solar comprised 13,652 MW which is a remarkable achievement.
UDAY revives discoms
Sharing about initiative that will change the game Sameer Gupta, Chairman & Managing Director, Jakson Group says, “The UDAY initiative aimed at financial turnaround and revival of electricity distribution companies (discoms) is an important reform that is critical for the overall growth of the power sector in India.”
In the past few years, India has moved from being a power deficit nation to a power surplus nation. There has been incredible power generation capacity addition – both traditional and renewable sources. “Good financial health of discoms is critical for ensuring that they can off-take power generated by developers and ensures a healthy ecosystem,” Gupta says.
Jakson witnesses growth in the revenues
While sharing his views on the performance of Jakson Group during the last one year Gupta says, “We are amongst the few integrated solar companies in India with presence in both B2B and B2C segment. Our EPC business delivers a turnkey engineering solutions for rural and urban, metro, building electrification, substation and transmission, and civil construction amongst others. We had a very good past year. Our revenues grew significantly and we bagged several prestigious projects across our various lines of business.”
Expanding solar business
Jakson Group sees a significant growth potential across its various lines of business in the coming future. “In the solar business, we foresee tremendous growth prospects in solar module manufacturing and as such have decided to invest in a greenfield solar module and solar cell manufacturing plant with 1 GW and 250 MW capacity respectively,” Gupta informs .