According to reports, Italian company Bonfiglioli, a supplier of solar inverters in India, plans to produce the inverters here after one year.
Bonfiglioli has two manufacturing plants near Chennai where it produces a range of products such as gear boxes, motors and drives.
The Italian group has so far invested Rs 650 crore in India operations in the last 13 years. In the last two years, it invested Rs 120 crore.
In recent times, Bonfiglioli has emerged as one of the top suppliers for solar inverters, and has sold inverters for 200 MW of solar plants. As the business in India is set to grow, the company wants to make them here.
At present, the inverters come from Germany, Ms Sonia Bonfiglioli, Chairman of the group, told a press conference here on Wednesday.
Mr M. Ganesh, Chief Executive Officer, Bonfiglioli Transmissions (Pvt) Ltd, said at present the company has inverters of capacities starting from 250 KW, but is working on making smaller inverters —10 KW and above — suitable for rooftop solar applications.
Bonfiglioli finds the going good in India and intends to invest Rs 40 crore more over the next two years. One of Bonfiglioli’s businesses in India is the manufacture and supply of yaw motors for windmills, which move the wind turbines to the direction of the wind flow.
The company has big hopes on this business.