Adani Solar is eyeing 50 per cent market share in retailing of solar panels in two years.
Stating that the company is looking to strengthen its retail distribution network across the country, Cecil Augustine, General Manager (Business Development), Adani Solar, told reporters here on Saturday that a network has been established in Rajasthan, Uttar Pradesh, Delhi, Gujarat, Punjab, Haryana and Kerala in three months, covers over 500 cities. “We will be adding more States to this list in the near future.”
The company is eyeing the residential segment to achieve better visibility and reach, he said, adding that “we have retailed more than 20 MW solar panels till date”.
Conceding that the solar panel market is dominated by Chinese companies, Augustine said, “Huge capex is needed for solar panel manufacturing and Adani has emerged as the only manufacturer of solar cells and panels in the country. The company is here to stay as the lifespan of the solar cell is 25 years; and one would not be able to keep a tag of the company in China for service at a future date.”
Augustine was in the city to announce the launch of Adani Solar’s retail distribution business in Tamil Nadu with K Powers, a Kondaas Group company. K Power, according to its Managing Partner S Sanjay Kondaas will appoint distributors across the State to take care of the distribution network.