Chennai: Adani Groups solar manufacturing arm Adani Solar is expecting to get 50 per cent marketshare in two years, a top company official has said.
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 said.
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.
He was in Coimbatore to announce the launch of its retail distribution business in Tamilnadu 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.