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ICRA gives thumbs-up for Bosch’s solar business

According to reports, rating agency ICRA has given thumbs-up to Bosch’s fledgling solar thermal division, describing it as of “highest performance capability” to undertake off-grid solar projects.

‘Bosch Thermal India’ was established only this year as a division of the Rs 8,000-crore Bosch Ltd.

Its product portfolio encompasses “everything from industrial to residential water heaters’’. These include residential and commercial heating systems, pool heating systems, solar collectors and hydraulics.

While this division is new in India, Bosch has been in this business since 1978, notes ICRA.

‘Bosch Thermal India’ has the support from Bosch Solarthermie, whose operations and maintenance network and service technology platforms will enable the Indian division to follow a similar model in India, says ICRA.

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