Sterling and Wilson Group Company’s subsidiary, Sterling Generators Pvt Ltd will be foraying into EV charging facilities and Hydrogen-based generators.
“India has been a slow starter as far as a push to Hydrogen has been concerned,” said Sanjay Jadhav, CEO, Sterling Generators
For the pricing of Hydrogen based generators, Jadhav further stated, “It will be more expensive than normal diesel-based genset.”
“The challenge with Hydrogen is not production, but handling hydrogen, India has taken a leap which will bring a good result,” he said.
As far as green hydrogen production is concerned, electrolyzer plays a very very critical role. “Over the next 4-5 years, there will be 8-9 big electrolyzer manufacturers. Currently, the number stands at 1,” Jadhav commented.
The market size of the global diesel generator is recorded at $18.74 billion in 2021. It is projected to progress at an annual compound annual growth rate (CAGR) of 8.5%
However, Sterling Generators is expecting a growth rate of 15-20% going forward, Jadhav said.
Hurricanes in USA, the Russia-Ukraine war, and a massive push for infra development have led to a rise in the demand for diesel generators. “As Russia has stopped giving gas, the immediate solution for the countries is diesel-based generators,” he said. The company is expecting its exports to touch 25-30% of its total order book next year. The exports stood at 10% last year.
On the partnership with Moteurs
Sterling Generators, in July 2022, announced a strategic partnership with Moteurs Baudouin. It is a French manufacturer of marine and power generation diesel and gas engines.
“This partnership gained momentum with business picking up rapidly in the last 6 months. It has picked up significant orders in India and abroad and looks for a positive outlook in the coming financial year,” Jadhav said.
Sterling Generators had a consolidated revenue of Rs 400 crore in 2021-2022, and is on a course to cross Rs 500 crore for 2020-2023.
