Adani Solar said it will be installing a 225 MW solar power plant in Purapura in one year and has set up a warehouse in Coimbatore for faster delivery of the panels in Kerala and Tamil Nadu. Photo: Bloomberg
Adani Solar on Friday said it will be expanding its business in Kerala as the southern state has huge potential in the solar energy market.
As part of its expansion plans, the company, which is the solar PV manufacturing arm of Adani Group, signed an MoU with Kochi-based Almiya group, a reputed solar distributor, as its official partner in the state.
Adani Solar said it will be installing a 225 MW solar power plant in Purapura in one year and has set up a warehouse in Coimbatore for faster delivery of the panels in Kerala and Tamil Nadu.
“We are expanding our business in Kerala. In 2023 alone we could establish solar panels for 70 MW in Kerala. Kerala has a huge potential in the solar energy market and Adani Group has very big plans for Kerala,” Cecil Augustine, National Sales Head of Adani Solar said at a press conference here.
He claimed that the solar panels, which are completely made in India, are of superior quality compared with any others in the market in Asia and they have much higher production capacity.
He said the MoU with Almiya Group will facilitate better penetration of Adani Solar in the Kerala market.
Almiya has been involved with Adani Solar for several years now and was part of the 45 MW plant in Tamil Nadu, he said.
Augustine also said that Adani Solar enjoys a 50 percent market share in the residential solar panel market in India.
“Kerala has huge potential in the residential solar panel market and an average family needs to spend around only Rs 1.6 lakh for a residential solar unit. We are giving the solar panels with a 30-year warranty and they could bring down their power bills to near zero,” he said.
He said Adani group is also exploring the use of solar energy at the Vizhinjam International Sea Port being constructed by the Adani Ports.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: May 24 2024 | 9:12 PM IST
