In an interview on the sidelines of the Mercom India Renewables Summit 2025, Chetan Amrutkar, Assistant Vice President (Sales) at GenX PV, stated that the government needed to support solar component manufacturing for it to grow in parallel with domestic module manufacturing. He said localization mandates will help the manufacturers of junction boxes, cables, and diodes to grow faster.

Amrutkar also spoke about his competition from imports, his company’s plans for capacity expansion and diversification, and its plans to tap public markets through an initial public offering.

Could you provide an introduction to GenX PV?

We are a Bengaluru-based company. We manufacture solar PV junction boxes and connectors. We have 20 GW of manufacturing capacity located in Bangalore. We are a fully automated manufacturing facility, and our products are tested thoroughly to ensure they perform optimally for 30 years.

How do you view the manufacturing landscape for Balance of Systems (BoS) components in India?

Over the last four or five years, solar manufacturing, particularly in module production, has experienced significant growth. The module capacity under the Approved List of Models and Manufacturing has grown to about 100 GW.

There is also a huge scope for BoS component manufacturing.

How does Indian BoS component manufacturing compare with imports?

We have very strong competition on the price front from imports. However, domestic manufacturing capability under the Make in India initiative is now growing. Essentially, our USP lies in manufacturing high-quality products. We continually engage with our customers to resolve any issues that may arise.

Many of the imported panels and junction boxes fail in the field. Our developers and independent power producers lose a significant amount of generation hours due to such products. We provide them with local support, which they often lack when importing products.

With imported components, even obtaining warranty support on time can be a challenge.

What kind of support are you getting from the government in terms of any incentives or tax breaks?

Currently, we are not receiving any support, which is significantly hindering our growth. We don’t have good profit margins because we have to compete directly with Chinese suppliers.

Solar cells and modules protection from imports with the Approved List of Models and Manufacturers in place. We also need some similar support. That will really help us grow.

Have there been any talks with the government regarding such concessions or incentives for junction boxes and other BoS components?

We haven’t had any talks so far because we are currently building our capacities. Once we have enough capacity, we can then approach the government. Solar manufacturing capacity is growing at a very rapid pace. Therefore, the BoS component segment will also need to grow in parallel.

It would also help if the government mandates a certain percentage of local BoS content in tenders.

However, some policy support specific to components is definitely crucial going forward.

What kind of support are you getting from the states?

We have committed an investment of ₹9 billion in Karnataka. We are hopeful of receiving some kind of support, both from the state and the central government, as we are also creating jobs.

Do you think the industry has the workforce with the skills to perform all these jobs that the component manufacturing space is creating?

When we started GenX PV, component manufacturing was very new. Unlike module manufacturing, there is very limited manpower available. We have been training them at the manufacturing level, as well as in quality control and lab testing. We deploy automated machines, but to operate them effectively, we need to dedicate a significant amount of time and manpower to realize their full potential.

Is the machinery for component manufacturing being produced in India, or do you have to import it?

Automation is very complex. Currently, 90% of the machinery is imported. We are trying to localize the maintenance part.

What are the future plans of your company?

We plan to expand our capacity from 20 GW to 50 GW in the next two years. Apart from that, we are pursuing backward integration. We will go into cable manufacturing and set up diode assembly lines. We already have some injection molding capacity. We are also planning to diversify into other components, such as aluminum frames.

What type of investment are you considering for the expansion plans?

As I mentioned, we have already committed ₹9 billion to Karnataka, which we will invest over the next two to three years. We will tap the markets with an initial public offering next year. We will probably be the first company in this space to go public.

How do you see the renewable energy industry moving forward in the next five years?

If we can overcome land constraints and augment the grid infrastructure, we should plan to reach 2,000 GW by 2035. Solar will have a big share because it is one of the easiest ways to expand renewable energy capacity, due to the short project timelines.

We are heavily dependent on one country for technology, so we need to reduce our dependence on it.

Are there any certification standards for BoS components?

We have to conform to the Bureau of Indian Standards (BIS) and IEC specifications.  BIS will also become mandatory for cables. Going forward, we hope that all components will also be subject to BIS certification, in addition to the PV modules.

(Note: Sections of the interview have been paraphrased for better reading. Check out the video for a full chat)