Captain Polyplast forays into solar EPC segment
Captain Polyplast, which is engaged in manufacturing advanced micro-irrigation technologies in India, plans to increase its presence in the solar EPC segment. This is in addition to its core business of micro-irrigation.
Captain Polyplast has embarked into a journey now to expand its presence beyond the businesses where it is already present. This foray into the solar EPC segment pairs the company's focus on ecological products & technologies that would help it to participate in the government's drive for expanding renewable energy capacity in India by 175 GW till 2022.
With the thrust of the government on renewable energy segment and drip irrigation, the company is set on an upward growth trajectory in the coming years. The company has set up dedicated teams for the solar EPC project across the county for retail, commercial, and large-scale project applications. It has successfully completed solar EPC projects with a capacity of more than 1,500 KW across 340+ customers so far. Currently, the company has an order in the pipeline of 5,000 KW while additional projects are expected to be finalised and executed in this financial year.
With regards to its core business vertical – micro-irrigation solutions, the shift towards the technology-driven solution is an acceptable norm in the agriculture sector. The Government of India has come forward to provide significant support towards irrigation crisis through Pradhan Mantri Krishi Sinchai Yojana. This plan has proposed an investment of Rs 50,000 crore over the next five years, wherein the micro-irrigation flagship scheme will be integrated as a key project. These positive developments in terms of policy and investments from the government will aid the growth of the company, going ahead.