CHENNAI: Chennai-based SWELECT Energy Systems Ltd, formerly NUMERIC Power Systems Ltd, on Wednesday launched three new products – NUMERGY HOME, NUMERGY HYBRID and NUMERGY HP – under its NUMERGY portfolio as it plans to ramp power generation capacity from 1GW to 2.2 GW through its recent G12R TOPCon solar panels with an investment of Rs 150 crore over the next few years.
The company has a manufacturing facility in Coimbatore that is producing 1GW of energy and it is planning to ramp to 2.2GW of power.
G12R TOPCon solar panel has the capacity of wattage output 620WP to 640WP.
The new products is an addition to SWELECT’s comprehensive range of Battery Energy Storage Systems (BESS) and home energy solutions.
Arulkumar Shanmugasundaram, CEO & Managing Director, SWELECT Energy Systems Ltd., said, “We are exploring markets such as UP, Bihar and northern States as there is a huge demand in these markets. In southern States, the demand for renewable energy such as rooftop solar panel is less compared to northern states is partly because of lack of awareness and also better power facilities through fossil fuels, whereas there are frequent power interruptions in the northern States. However, we will take our products to southern States as well.”
Speaking about the recent surge in price of lithium-ion, R Chellappan, Founder & Vice Chairman, SWELECT Energy Systems Ltd, said, “The recent rise in cell prices is because dollar has appreciated, and China has set price of lithium-ion slightly higher as it is reducing its export incentives on the cells. Due to this, the cell manufacturers are raising their price, however, this will stabilise in the next few days.”
Shanmugasundaram added that it should be noticed that the price of cells has fallen in the last three years. “We should not miss out bigger picture.” They also said though lithium-ion is major raw materials for Battery Energy Storage Systems, there are cells such as Vanadium Oxide and Flow Cells which have better lifespan. So once these cells are in available in market in larger quantity, it will be good for the renewable sector.
Shanmugasundaram said the government should equip electrical substations for hybrid connectivity of wind and solar. The company also renewed its logo and tagline.