Bharat Bhut: Co-founder and Director, Goldi Solar

Co-founder and Director, Goldi Solar

Bharat Bhut, co-founder and director, Goldi Solar, has a strong nose for business, coming as he does from a business family. Backed by a 50-year legacy in diamond manufacturing and an eagerness to do something new,  Bhut co-founded a solar module manufacturing business along with Ishver Dholakya.

Back in 2009, when he entered the sector, solar was a new and cost-intensive concept. “Going into the solar business was a risky move, yet we proceeded with the vision of transforming tomorrow’s energy landscape in order to provide a sustainable and clean energy source to the world,” says Bhut. The move paid off. Today, Goldi Solar has a 500 MW manufacturing facility and is looking to expand to 5 GW in a few years.

Bhut provides the strategic direction for growth and is responsible for all operations of the company. He spearheads all the expansion and technology tie-up efforts. With insight, vision, team building capabilities and the ability to foster healthy relationships with clients, he has been instrumental in improving revenues, margins and customer satisfaction. One of his striking achievements is taking the company’s CAGR to 80 per cent.

On the outlook for the solar segment, Bhut remarks, “Owing to the pandemic, the solar supply chain has been heavily disrupted. The pandemic has created a host of issues including an increase in shipping costs, an almost five times increase in freight charges and a multifold increase in raw material prices.” He also highlights that polysilicon cells and wafers are in short supply, and there is a rise in the cost of the total bill of materials (aluminum, backsheet, ribbon) as well. “Owing to the shortage of raw materials, India is now trying to manufacture them domestically and the country is seeing growth in the ancillary industry,” he adds.

Regarding his management style, Bhut believes in implementing sound strategies, and planning and thinking on his feet. “I am nothing, but I can do anything” and “You are the creator of your own future” are his life mantras. He is an avid reader, and the Bhagavad Gita is his favourite. Five to ten years from now, he wants to build one of the top renewable energy companies with integrated manufacturing of solar cells, modules and auxiliary raw materials.

Bhut has a degree in business administration from the University of Greenwich, London.