Finolex Cables Invests INR 100 Cr in Solar Cable Manufacture Business

Finolex Cables Invests INR 100 Cr in Solar Cable Manufacture Business

Finolex Cables, a flagship firm of Finolex Group, which has set foot into the solar cable business, is set to see major expansion in manufacturing of solar cables to keep pace with the rise in demand.

The firm has purchased special radiation technology to established a manufacturing facility in the city of Pune to make solar cables employing controlled electron e-beam technology. The Chariman of the firm, Deepak Chhabria said this will help the production of high quality solar cables and impact the solar industry favourable. The firm has set aside a capex of INR 200 crore to augment its manufacturing abilities in Urse, Pune, where it will produce solar cables. This initiative will see an investment of INR 100 crore.

Solar power cables are in demand in electric vehicle industry, trains and data centres.

With solar and wind projects witnessing a surge, the demand for solar cables has been seeing higher demand too.