Adani Solar Aiming For 50% Market Share by 2021

Adani Solar, the solar manufacturing arm of the Adani Group has set sights for acquiring 50 percent market share in the next two years, a top company official has confirmed.

“As 80 percent of solar panels available in the country are 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. 

“With a market share of 10 percent and expected growth, the company was sure to capture 50 percent market share in another two years,” Augustine added. 

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. 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.

“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. The partnership would help to contribute to achieving the state’s goals in harnessing solar energy and increasing power generation.”

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. 

In March, The Adani Group’s solar manufacturing arm has ventured into the retail business of solar panels in the state of Rajasthan through channel partner Ahinsa Solar. Chief Marketing Officer of Adani Solar, Prashant Mathur, said at the time that the company plans to collaborate with a channel partner for every state to expand its retail footprint across the country.