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Pune's REPLUS Engitech aims for Rs 500 cr order Book, eyes global expansion
Industry News- Dec 20,23
REPLUS is actively engaged in various global projects. In Saudi Arabia, the company is immersed in microgrid projects utilising solar energy to power villages, with the aim of establishing a self-sufficient economy.
REPLUS Engitech, a Pune-based manufacturer specialising in the assembly of battery modules and packs, is gearing up to boost its order book to Rs 500 crore in the upcoming fiscal year, according to Hiren Pravin Shah, the company's Executive Director & CEO.
In an exclusive interview with ET Energyworld, Shah revealed that the expansion plan aligns with REPLUS Engitech's active involvement in ongoing projects in Saudi Arabia, Congo, and Mumbai.
Established in 2018, Replus reported revenues of approximately 18 crores last year. Shah disclosed that the company presently holds an order book of around 250 crores. He stated, "We anticipate orders of 500 crores in the next fiscal year (2024-2025) and aspire for further growth to 800-1000 crores in subsequent years."
REPLUS is actively engaged in various global projects. In Saudi Arabia, the company is immersed in microgrid projects utilising solar energy to power villages, with the aim of establishing a self-sufficient economy. In Congo, Africa, a significant project seeks to replace diesel generators in a large mine with a cleaner solution using solar and battery energy.
In Mumbai, REPLUS contributes to around 12 transmission and distribution stations by providing emergency backup through their battery systems. The company is also involved in two green hydrogen projects in India, combining solar power and battery systems for a stable power supply.
Furthermore, REPLUS has entered the commercial vehicle battery sector, supplying to e-mobility manufacturers near Pune.
Through a strategic partnership with the LNG Bhilwara group, REPLUS Engitech's current operational manufacturing capacity is 1 GW, funded by this collaboration. The manufacturing capacity, which began operations in September, is set to undergo substantial expansion. Shah explained, "Once our initial one gigawatt-hour capacity is utilised up to 50% or 60%, we will proceed with Phase Two to achieve the five gigawatt-hour target."
Addressing sector challenges, Shah advocated for policy measures, stating, "For local manufacturers like us, with a capacity of 1 gigawatt-hour, there is a need for a duty differential favouring local manufacturers over those importing battery packs." He stressed the importance of financial support to local manufacturers through subsidies or schemes tied to the Make in India initiative, saying, "This financial support would catalyse the growth of local manufacturers, allowing us to scale up from 1 gigawatt-hour to 5 gigawatt-hours and contribute to building a robust local ecosystem."
As the government emphasises advanced cell chemistry battery storage and aims to manufacture 500 GW of batteries in India by 2030, REPLUS is poised to align its goals with this national objective. Shah concluded, "The anticipated demand from the market and the expected scale and volume make this expansion necessary to meet market requirements."
Source: ET Energy
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