Chandigarh, Oct 16 (IANS): Punjab and Haryana have a huge potential for solar power generation where the company aims to scale up its operations, Co-Founder and Managing Director of Hyderabad-based rooftop solar company Freyr Energy Service Saurabh Marda said on Wednesday.

"We have completed 1,800 kw of installations in Punjab and Haryana," he told reporters.

"Residential rooftops account for about 20 per cent of our business, while MSMEs and village electrification and government projects take up 40 per cent each," Marda said.

Freyr Energy, is a Pan-India player in the solar business, established in 2014. It runs through 400 partners and has collaborations in multiple countries.

In the past five years, Freyr Energy with an annual turnover of Rs 45 crore has installed 1,200 plus installations across 19 states with international presence in the US, Singapore, Nigeria and Ghana.

"We have grown by 1,800 per cent in five years. In the next five years, we aim to increase the annual turnover between Rs 1,800 to Rs 2,000 crore," Marda added.