ReneSola is also looking for partners across India and will open its subsidiary in Mumbai in the beginning of 2013
In a competitive PV solar market in India, where new players are entering the market every now and then, ReneSola Ltd, a global manufacturer of solar photovoltaic (PV) modules and wafers, with its headquarters in China, has been the latest entry in the Indian solar domain. So what is unique about this company and how will it compete with the Indian players?
ReneSola will provide locally produced PV modules to the Indian market, and expects to produce about 250 MW in the next two years. Currently, Websol Energy System Ltd, a leading manufacturer of photovoltaic monocrystalline solar cells and modules in India, is manufacturing PV modules for ReneSola under the brand name ‘ReneSola’. ReneSola is also looking for partners across India and will open its subsidiary in Mumbai in the beginning of 2013.
ReneSola has also launched its new Virtus II multi-crystalline modules in the Indian market on November 7, 2012, at the 6th Renewable Energy India 2012 Expo, a three-day event held in New Delhi that concludes on November 9. “ReneSola will continue to implement its successful sales and marketing strategy of professionalisation, internationalisation and localisation in India,” informs Stephen Huang, APMEA, president, ReneSola.
This is the first time ReneSola is providing locally produced PV modules outside of China, emphasising the importance of the India PV market. “The company will realise its target of 250 MW in the next two years through collaborating with local strategic partners in India,” says Stephen Huang. “In order to import its technology to India and take advantage of India’s local management and talent resources, ReneSola is dedicated to providing localised and customised products and services to the India market,” he adds.
“Considering the strong and growing demand the India PV market presents for electricity, coupled with the government’s strong support and generous subsidies for solar energy, ReneSola considers India to be a key market within Asia,” says Stephen Huang“We believe traditional PV sales and trading platforms cannot satisfy local demand, so we intend to invest more in India and are determined to establish roots here, ideally joining forces with the India PV industry to provide customised energy solutions,” he concludes.
By Srabani Sen
