Amplus Solar, a leading player in the renewable energy sector, is embarking on an ambitious journey to achieve a cumulative renewable energy capacity of 2 gigawatts (GW) by the end of 2024, encompassing both solar and wind power projects. Sharad Pungalia, the Managing Director and CEO of Amplus Solar, outlined the company’s expansion plans and commitment to advancing sustainable energy solutions.
“We are currently operating close to about 1,600 megawatts (MW) of Inter State Transmission System (ISTS) capacity. Based on our ongoing projects, we anticipate reaching around 2,000 MW (2 GW) by December 2024,” stated Pungalia, highlighting Amplus Solar’s rapid growth trajectory in the renewable energy space.
Amplus Solar’s expansion strategy includes the development of new projects in Maharashtra and Uttar Pradesh, with a pipeline of four to five additional projects slated for construction around September this year. Furthermore, the company aims to diversify its portfolio by venturing into battery storage energy systems (BESS), enabling the provision of round-the-clock energy solutions to its customers.
“We are open to the acquisition of commercial and industrial assets in the renewable energy sector and will actively explore opportunities for operational potential assets,” affirmed Pungalia, underlining Amplus Solar’s proactive approach towards strategic growth initiatives.
Expressing concerns about the government’s imposition of the Approved List of Manufacturing Models (ALMM) for solar developers, Pungalia emphasized the need for a conducive regulatory environment to foster the expansion of domestic manufacturing capacity for solar modules. He raised apprehensions regarding potential delays in project completion due to constraints in accessing high-efficiency modules.
Amplus Solar is also diversifying its business into emerging areas such as solar plus storage, electric vehicle (EV) charging infrastructure, concentrated solar power technologies, and residential solar solutions. With a portfolio comprising over 1.5 GW in solar assets, serving more than 350 major clients, Amplus Solar is positioned as a key player driving the transition towards a sustainable and clean energy future.
As the global focus on renewable energy intensifies, Amplus Solar remains committed to expanding its footprint and delivering innovative solutions to address the evolving energy needs of customers across sectors.
