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Clean energy solution provider 8minutes Future Energy is planning to commission 250 MW of solar rooftop capacity in the next three years and eyeing a revenue of Rs 250 this year. "8minutes Future Energy Pvt Ltd plans to commission 250 MW of solar rooftop capacity in the next three years across the country. Of this, 52 MW of solar installations are planned to be deployed by December 2017, which will include 25 MW each in government institutions and industrial segment, and another 2 MW in the residential segment," 8minutes Future Energy Founder & CEO Dev Arora told PTI. Arora said the company is targeting a revenue of Rs 250 crore this calendar year (2017). 8minutes is also looking to raise funds worth USD 10- 15 million from Private Equity (PE) investors to drive growth in the solar rooftop segment.
Arora said, "Solar has now crossed grid parity, which means it is an economically more viable solution than conventional energy. For investors, the unlimited market potential coupled with high financial returns from solar presents a new opportunity for them to invest in a new form of technology unlike any venture capital and private equity sector has seen before." He was of the view that fall in solar tariffs to record low of Rs 2.97 percent unit has opened up the solar rooftop market in a big way for investments. He noted that with the removal of subsidies and decrease in depreciation benefit, prices are likely to stabilize over the next few years, and there won't be any more drastic decrease in prices over the next few years.
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