Adani Solar targeting 50% market share in 2 years: GM Cecil Augustine

Adani Groups 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 was manufacturing module and panels, which were cheaper and durable, for Indian markets, general manager(business development) of Adani Solar Cecil Augustine told reporters.

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

The company official was in Coimbatore 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.