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Germany’s SMA Solar eyes 1.4 GW business from India in three years

According to reports, German based SMA Solar Technology AG, a solar energy equipment supplier has announced setting up of its wholly owned Indian subsidiary, SMA Solar India Pvt Ltd in Mumbai, reiterating the growing interest of global players in the Indian solar sector. The world’s largest maker of solar inverters, expects its Indian unit to get 40%  business worth 3,500 megawatt in Asia’s third-largest economy  in three years, a local unit official said.

The company already has 200 MW of business in India since 2010 across all sectors from Off Grid, Roof tops and utility scale Power plants.

SMA is the world’s largest manufacturer of inverters for solar photovoltaic modules and has presence in over 19 countries of the world. In India, SMA Solar would set up two service hubs in Ahmedabad and Mumbai and would look to invest significantly in Research & Development.

“Our strong global presence, and expertise in this space spreads to more than 18 countries across the world and the company’s India expansion is consistent with its overall growth strategy for increasing global market share. We see India will become one of the top markets in PV industry”, said Mr. Marko Werner, Chief Sales Officer and Board Member, SMA Solar Technology AG

” Encouraging policies both by central government as well as state government are in place to enhance the adoption of renewable energy including Solar. An estimate is that India will have more than 20GW of solar power by 2020. These numbers are likely to be upwardly revised during the next 5 year country planning cycle from 2012-2017″, said Mr. Rakesh Khanna, General Manager, SMA Solar India Pvt. Ltd.

India has become an important market for renewable and alternative energy companies. The country has set an ambitious target for development of solar energy with installed capacity of 20,000MW by 2022.

PV inverters and monitoring systems form the most important technological component of every solar power plant. The inverters are sought for their high efficiency of up to 98.7% which allows for increased electricity production.

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