A leading global manufacturer of photovoltaic modules and wafers from China – RenaSola – has decided to provide 250 MW of locally produced PV modules first time to the Indian market over a period of two years. The company will collaborate with the local strategic partners to cope with the demand and meet this target of 250 MW.
The company has also announced the launch of its new Virtus II multicrystalline modules into the Indian market during the 6th Renewable Energy 2012 Expo, a three-day event held recently. The introduction of this new module followed its successful launch in United States and Australian markets.
By providing the locally produced modules to the Indian market, it seems ReneSola continues to implement its sales and marketing strategy of “professionalization, internationalization and localization” in India. The Indian PV market has seen considerable growth since the launch of the Jawaharlal Nehru National Solar Mission in 2010. ReneSola is dedicated to provide localized products and services to the Indian market to take advantage of the growing solar PV sector.
“Considering the strong and growing demand the India PV market presents for electricity, coupled with the government’s strong support and generous subsidies for solar energy, ReneSola considers India to be a key market within Asia,” said Stephen Huang, APMEA President at ReneSola.
“We believe traditional PV sales and trading platforms cannot satisfy local demand, so we intend to invest more in India and are determined to establish roots there, ideally joining forces with the India PV industry to provide customized energy solutions.”
Renesola has achieved rapid development in the last seven years with PV business covering the whole industry chain. The company now operates through 17 subsidiaries, with sales branches all over the world.
The strategy by ReneSola could help it escape possible anti-dumping duties from the Indian government. With high import duties levied on Chinese solar modules by the US and EU investigating anti-dumping measures, India is one market the Chinese solar companies would do anything to hold on to. The Indian government plans to add 22,000 MW capacity by 2020 and several Indian states have also announced their own ambitious plans to increase solar power generation capacity.
Image Credit: ReneSola
The views presented in the above article are the author’s personal views only.
Mridul Chadha currently works as Head-News & Data at Climate Connect Limited, a market research and analytics firm in the renewable energy and carbon markets domain. He earned his Master’s in Technology degree from The Energy & Resources Institute in Renewable Energy Engineering and Management. He also has a bachelor’s degree in Environmental Engineering. Mridul has a keen interest in renewable energy sector in India and emerging carbon markets like China and Australia.