Waaree Energies, touted as India’s largest Solar PV Module manufacturer with a capacity of 1.5GWhas recently declared its plans of establishing 14 solar power centers in West Bengal. The power centers, as per reliable sources, are spread across 14 different districts in the state, in a bid to establish inroads into the solar projects segment.
As per sources familiar with the knowledge of the matter, the solar hubs or solar power centers represent a part of the company’s plans to address the evolving demand for electricity from the rural and un-electrified regions across the country. The move also marks Waaree Energies’ strategy to open approximately 1000 solar centers in the current financial year.
Supporting the latest move, Nitin Kapadnis, Senior VP, Waaree Energies was quoted saying that West Bengal is one of the most promising markets for the solar industry with approximately 100% year-on-year growth rate. The region, touted among the densely populated states in the country, has faster rate of solar adoption, particularly in the commercial segments, he further added. The company is apparently planning to set up its own capacity of PV cells in the state with manufacturing partnerships with the local companies.
Commenting on the financial approach of the company, Kapadnis further added that Waaree Energies is aiming at Rs 65 crore business in West Bengal in FY’20 which is significantly higher than Rs 15 crore recorded in FY/19.
For the uninitiated, Waree Energies is also a renowned name in the EPC (Engineering, Procurement and Construction) as well as rooftop segment. The company holds a portfolio of an EPC player in some of the most top-notch projects including 15 MW power project at the airport, 800 KW with WBSEDCL, 3.3 MW at the Metro, 8.89 MW with leading steel industry, and 830KW leading FMCG