Adani Solar has already expanded the retail distribution of its solar panels to seven regions in the country, touching 500 cities, in a span of three months
Chennai: Adani Group’s renewable energy arm, Adani Solar, is aiming to capture 50 percent market share in two years, a top company official said on Saturday. While noting that 80 percent solar panels available in India were China-made, the general manager (business development) of Adani Solar, Cecil Augustine, said that the company was making modules and panels that were cheaper and durable for Indian markets.
Current market share at 10 percent
With a current market share of 10 percent and expected growth, Adani’s renewable energy arm was sure to capture 50 percent market share in another two years, Augustine said. He was speaking to the media after announcing launch of its retail distribution business in Tamil Nadu with K Powers Solar, an exclusive channel partner for the region.
Adani Solar has expanded in 7 regions in 3 months
Augustine said that Adani Solar has already expanded the retail distribution of its solar panels to seven regions in the country, touching 500 cities, in a span of three months. 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 said.
Managing director of K Powers Sanjay Kondaas said that Tamil Nadu is fast emerging as a power-producing state with many big firms switching over to solar energy and Vision Tamil Nadu 2023.
He added that the strategic plan for infrastructure development in Tamil Nadu includes a solar energy target of 5,000 MW.