We have witnessed growing interest of various multi-national firms from countries like France, Germany and more recently Japan in entering the solar business in India. Now another major firm, Bosch will reportedly offer its solar-powered products in the Indian market and has set sights on acquiring 10 per cent share in thermo-technology segment in the country over the next three years, according to a TOI report.
The company is a familiar name in the global market, where it is a major supplier of high quality water heating and comfort heating systems in the solar space. The solar business for Bosch in India will be handled by the flagship firm, Bosch India Limited, with its headquarters in Bengaluru.
The company will first manufacture commercial, industrial, power boilers and solar water heaters for segments like residential, commercial, industrial and institutional. These products will be first distributed to regions like Maharashtra, Karnataka and the National Capital Region with the help of 30 to 40 agents.
“We see good potential in India on account of favourable weather conditions, namely 300 days of solar energy in a year and a friendly regulatory environment that makes it mandatory for installation of water heaters on any new residential construction,” Vidyasagar Halingali, country head- sales Thermo-technology-SAARC, Bosch Limited reportedly said.
The automotive major will concentrate on solar business with markets like India and South Asian Association for Regional Cooperation (SAARC) region as well, which includes Sri Lanka and Bangladesh.
Talking about foreign interest, it was earlier reported that Japanese biggies like Sharp, Toshiba have shown keen interest in tying up with domestic solar manufacturers.
