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“We Firmly Believe In Offering Top-Quality Products”

In conversation with Mr. James Hou, Sales Head-South & East Asia, GoodWe

How do you see the opportunities panning out for the Inverter market in India?

The inverter market on the whole is a direct translation of the project opportunities in India. Apart from the well-known slowdown due to the various uncertainties in FY 2018- 19, the market has been great and is now gearing up for a bright year in 2019. Overcoming a <6.5GW year, The outlook remains positive as a little over 11GW of projects tendered in 2018 which accords us with a healthy pipeline for the next two years. For the FY 2019-20, we believe the TAM stands at 8GW which includes a minimum 1GW of rooftops. Considering the fact that there are over 35 inverter brands available in the market today to address this demand, the implementation of BIS would most certainly consolidate this number in the foreseeable future. Further, the awareness among the EPCs/IPPs/Developers/investors has notably increased which helps them opt for products with the best cost-quality ratio. This doesn’t apply just to the inverter, but also to the BoS cost associated with it. This serves as a great opportunity for good quality/innovative manufacturers such as us to stand out in the otherwise crowded inverter market.

From a product mix perspective how does your company plan to ramp up its production for Central and String Inverters?

Being a string inverter manufacturer, our focus at least till early this year has been purely upon the Residential, Commercial and Industrial segments. With a wide range of offerings starting from 700W and scaling up to 80kW, we are one of the very few players in the global/ Indian market with wide acceptance of such a product portfolio. Now, we have stormed into the utility scale string inverter segment with our 80kW inverter with latest technology and top-of-the-segment features. To serve the global market, our current production capacity lies at 9GW/Annum which would be scaled up to 12GW/Annum by the start of Q2 2018-19 when we move into our brand new, state-of-the-art manufacturing facility.

What incremental innovations are planned in your product technology to supply to the Indian market?

We are a corporation that firmly believes in offering top-quality products. The belief is strongly supported by the fact that approximately 18% of our total workforce is dedicated to R&D which is more than 200+ engineers. In today’s price sensitive market, offering cost-effective solutions itself is an innovation in its own right which we believe we have been providing and we are already looking past just that. With valuable feedback from our clients, we have integrated various features and improved specifications of our inverters which have not only resulted in better yield, but also better maintenance of the inverter. This would eventually increase the longevity of the inverters, with better uptime which is the ultimate attribute one looks for in an inverter. Apart from this, in recent months, many Top EPC companies and project developers expressed their exciting findings of our newly released SEMS monitoring portal (smart energy mangament system), in which we have invested heavily to make it a world-class platform that offers best solutions for monitoring large projects in multiple locations, combing & displaying all datas from different devices such as energy meter, weather sensors etc. Again, we are one of the very few manufacturers with our own portal (and servers) and one of the first to offer a high-quality interface with detailed plant analysis at zero cost. With this background, it doesn’t come across as a surprise to us that we have won the TuV all quality matters award for four consecutive years.

How was your company’s performance in the last financial year – FY 2018-19

As of today, we have a global footprint of >13GW. We’re the top string inverter manufacturer in China and among the top 3 in various markets across the globe. As a late entrant in the Indian market, we stand at the fourth largest supplier in the rooftop market. With over 180MW installed last year alone, we have earned faith and brand recognition from all of our clients. We also take pride in the fact that we are the leading supplier of string inverters to many top Solar PV EPC companies across India. This has helped us expand our presence in India – with an office/repair center and a service network of 12+ engineers all established in 2018.

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