MIC Electronics started off as an R&D driven organization in embedded technology and delivered embedded product solutions. Since, the company has moved into LED Displays. MIC’s flagship product, the LED Video Displays has been widely used in public places and by the number of new OOH(Out of Home) media companies in theme parks, advertisements and public information displays in railways and airports.
MIC Electronics has a long-standing and special techno commercial relationship with Nichia Corporation, Japan, one of the world’s leading LED manufacturers.
Earlier this year, MIC Electronics had won an order from BTGES to supply 330,000 solar lanterns over the next year for a total consideration of Rs 66 crore.
Since, the company had signed a definitive agreement with the Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA) for supplying LED Solar Street Lighting Systems worth Rs.6.63 Cr. Further, the company bagged orders worth Rs.5.87 Cr from Indian Railways to supply a gamut of True Color LED Display Systems and Emergency LED Lighting solutions.
Given their success in the solar lighting space, the company, according to reports, has announced on their 25 years of its operations in December 2010, that they plan to add production capacity for their LED lighting products at its Hyderabad-Cherlapally facilities. The new production center measuring 60,000 square feet was inaugurated by Mr. Kazuto Miyazaki, Managing Director of NICHIA Corporation, Head Quarters, Japan.
MIC’s commitment to develop products relevant to the rural population of the country has made the company to lay special emphasis on solar powered lighting products, needed by the people living in rural parts and mountainous terrains of the country deprived of the access to grid based power. MIC’s solar powered portable lights, fixed home lights and street lights will be ideal for providing distributed and decentralized lighting solutions for the developing parts of the nation.
The company has also released an ‘All in one Solar powered Street Light’ for usage in the rural areas. This product, with its built in power pack and integral solar panel will be very easy to install and use. The Jawaharlal Nehru National Solar Mission of the Government of India envisages deploying 2 cr. rural lighting systems by the year 2022. MIC’s Solar Powered products, especially the All-in-One Solar Street Lighting System will be very relevant for this Mission.
“The encouragement being provided by the Government of India for promoting LED lighting products has given confidence to the company to go in for large scale expansion of its lighting products”, said Dr.M V Ramana Rao, Chairman & Managing Director, MIC Electronics Ltd.
A separate lighting division is being planned very near to the Shamshabad air port with an outlay of about Rs.180 cr. This new facility, for which land allocation has already been made, will help the company to substantially enhance its production capacity for grid based, off grid based and solar powered lighting products to position itself as a leading player in the field in the country.
“We are confident that with the strong product portfolio MIC has built up, in both the LED Display and Lighting segments, the company is poised to benefit from the very large business opportunities foreseen in these two fields, in the near future, estimated to aggregate around Rs. 5 Billion”, he added.
As Panchabuta has often opined, the off grid solar opportunities are much bigger than the utility scale solar power projects that seem to usually get all the attention. It will be worthy to note that companies like D.Light design have scaled rapidly in this area and as Panchabuta had noted, have impacted their second million lives in less than 8 months.
Typically the return on investment for a solar lamp varies between 6 months to 12 months depending on the usage, cost of solar lamp and cost of kerosene/candle and this has led to solar lamps being used not only in remote rural India, but also in urban markets, street side vendors and semi-urban businesses instead of the traditional petromax lights.