Fronius India Aims to Double Turnover in Two Years

Fronius India plans to expand their solar inverter business by entering east and central India, where they see tremendous opportunities for growth.

Fronius India, one of India’s leading supplier of solar PV string inverters, is aiming to double its turnover by fiscal 2019.

Commenting on aiming to achieve a considerable increase in market share, V.V Kamath, Managing Director, Fronius India said, “Given the rate at which the solar industry is booming, we are expecting high returns by 2019. Currently, we have a market share of 5.2% and are expecting it to increase to 20% in the next two years.”

To achieve this ambitious target in the next two years, Fronius India plans to expand their solar inverter business by entering east and central India, where they see tremendous opportunities for growth. Fronius India has already opened offices in Bangalore, Chennai, Gurgaon and Ahmedabad for its solar operations.

Established in India in 2013, the company has been improving its profitability every year while clocking exceptional growth in its year-on-year revenues.  Fronius India currently services solar clients across sectors like Manufacturing, Automotive, Hospitality, Government, Educational Institutions and Commercial.

India’s solar power sector is at an inflection point and is all set for speedy acceleration. The Government has set an ambitious target of installing 100 gigawatts of solar power by 2022.

In the four years since the company entered the Indian market they have completed over 5000 inverters in about 20 states across India and have  a client base of over 250 companies, like Fourth Partner Ltd, Sunshot solar etc.

 “We are very happy with the performance of Fronius solar inverters. They have proven to be a complete package of reliability, cutting edge technology and maximum yield dependability. Fronius inverters come with a complete communications package which makes monitoring easy,” Meenakshi Sharma, MD of Medors Renewable Energy Pvt Ltd said.