Japanese electronics and instrumentation major Hitachi High-Technologies Corporation has announced its entry into the Indian solar market, in collaboration with Mumbai-headquartered CleanMax Solar India.
The two companies will “jointly offer high-end rooftop solar solutions to Japanese companies across India.” According to BusinessLine, CleanMax Solar’s Managing Director, Kuldeep Jain, told that the MoU is “the first step towards a long-term partnership structure”.
At this point in time, the two companies are operating on a “pre-agreed profit sharing model,” Jain said.
The role of Hitachi High-Tech in the partnership will include approaching Japanese clients and supplying solar PV panels. The possibility of low-cost Japanese financing has also been hinted at.
The $5.6-billion Hitachi High-Tech has issued a statement in Japan, which quotes the company’s General Manager, Electronic Components & Materials Department, Ichiro Matsuba, as saying that the partnership will add “significant value to Japanese companies in India”, arising out of its deep understanding of their requirements of high-quality solar power plants. The partnership also envisions possible expansions to other international markets in the future, the statement says.
