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Business Companies 25 May 2019 Adani Solar aims at ...

Adani Solar aims at 50 per cent market share, says company official

PTI
Published May 25, 2019, 9:06 pm IST
Updated May 25, 2019, 9:10 pm IST
Currently 80 per cent of solar panels available in India are made in China.
The company is manufacturing module and solar panels, which were cheaper and durable, for Indian markets, general manager(business development) of Adani Solar Cecil Augustine told reporters. (Photo: File)
 The company is manufacturing module and solar panels, which were cheaper and durable, for Indian markets, general manager(business development) of Adani Solar Cecil Augustine told reporters. (Photo: File)

Coimbatore: Adani Group's solar manufacturing arm Adani Solar is expecting to get 50 per cent marketshare in two years, a top company official said Saturday.

As 80 per cent of solar panels available in the country were made in China, the company is manufacturing module and panels, which were cheaper and durable, for Indian markets, general manager(business development) of Adani Solar Cecil Augustine told reporters here.

 

With a market share of 10 per cent and expected growth, the company was sure to capture 50 per cent markets hare in another two years, Augustine said.

The company official was here to announce the launch of its retail distribution business in Tamil Nadu with K Powers Solar, an exclusive channel partner for the region.

In a span of three months, Adani Solar has expanded the retail distribution of its solar panels in seven regions, helping over 500 cities across the country meet their renewable energy requirement, he said.

The partnership with K Powers is a stride towards facilitating the switch to sustainable solar power, across consumers, SMEs, MSMEs and institutions in the state at the lowest capex costs, he added.

 

Tamil Nadu is an emerging solar power-producing state with many big firms switching over to solar energy and Vision Tamil Nadu 2023, managing director of K Powers Sanjay Kondaas said.

A strategic plan for infrastructure development in Tamil Nadu includes a solar energy target of 5,000 MW, he said.

The partnership would help to contribute for achieving the states goals in harnessing solar energy and increasing power generation, Kondaas said.

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