May 25, 2019
Coimbatore : With huge potential in retail business, particularly residential projects, Adani Group’s solar manufacturing arm Adani Solar, is expecting to capture 50 per cent market share in the segment in another two years, a top company official said Saturday.
As 80 percent of solar panels available in India were made in China, the company was manufacturing module and panels, which were cheaper and durable, for Indian markets,General Manager, Business Development, Adani Solar, Cecil Augustine told reporters here.,
With a market share of 10 per cent and expected growth in the segment, the company was sure to capture 50 per cent market share in another two years, Cecil said.
Cecil 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,. Cecil said.
Tamil Nadu is an emerging solar power producing state with many big firms switching over to solar energy and Vision Tamil Nadu 2023, a strategic plan for infrastructure development in Tamil Nadu, includes a solar energy target of 5,000MW, K Powers Managing Director, Sanjay Kondaas said, adding the partnership will help to contribute to achieve the state’s goals in harnessing solar energy and increasing power generation.
The company. with 1.2 GW manufacturing capacity, has already established retail network of solar panels in Rajasthan,Uttar Pradesh, Delhi, Gujarat, Punjab, Haryana and Kerala and will expand footprint across the country soon, Cecil said.