Schneider Electric India is looking to increase its footprint in the rapidly expanding Indian solar power market.
The company recently announced that it aims to increase its share in the Indian solar power market to 25% in the near-term. Schneider Electric supplies inverters, transformers and other medium-voltage equipment that enable evacuation of power generated from solar power projects.
“We are on the verge of contributing 25 percent of the total installed solar capacity in India. Our share as well as contribution to India’s solar sector is only going to increase given the rapid growth witnessed by the sector on the back of the 100 GW target to be achieved by 2022,” Anurag Garg, vice president, solar business, Schneider Electric India.
India has an installed capacity of 10,000 megawatts solar power projects. Schneider claims that it has supplied equipment for 2,000 megawatts of projects, giving it an impressive share of 20%. By March 2017, the company is expected to supply an additional 500 megawatts of equipment.
Schneider’s equipment have been installed almost all the states that lead solar power generation in India. The company manufactures these equipment at four different facilities in the country.
Several companies have managed to reap fruits of the rapid expansion in the Indian solar power market over the last few years. One of Schneider’s competitors (at least in the inverter segment), SMA Solar, commands 26% share in the market. SMA Solar shipped 1,000 megawatts of inverters to solar power projects in 2016, with a total of 4,000 megawatts of solar power projects added in the country.