Clean energy is a business to focus on for the next five to ten years, Srinivas Reddy, Promoter and MD, MTAR Technologies said on Monday as he discussed with CNBC-TV18 the scope and growth opportunities for companies that are looking to go green.

MTAR Technologies is focusing on the production of green hydrogen from electrolysers, Reddy said. He added they are in the advanced stages of developing prototypes for hydrogen and have spoken to NPCL to set up hydrogen equipment-electrolysers. Reddy said that there is a lot of scope and growth within the country and the government has also taken clean energy seriously.

“So technology-wise we have already established and so it is a matter of time before we gear up within the country,” he said.

When asked if they would be competing with Reliance in the clean energy space, he said the space is too big and it would be premature to comment on the competition right now.

Reddy said that they have set up hydrogen units in South Korea and since they have the technology, they will establish in India whatever is possible at this point in time and then see how it goes in the future.

Talking about MTAR Technologies’ orderbook, Reddy said, the company is expecting a lot of orders for fleet reactors in the next three quarters. “Around Rs 1000 crore orders are up for bidding in specific projects, areas we specialise in and the success rate is around 70 percent”, said Reddy. He added that last year the company ended with an orderbook of Rs 400 crore and it is possible for the company to end this year with a potential of Rs 700 crore orderbook.

For FY22, the company is looking at revenue growth of 20-25 percent over last year. For FY21 the company reported revenue of Rs 250 crore.

Disclosure:

Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

For the entire interview, watch the video

(Edited by : Kanishka Sarkar)