Hitachi, a Japanese electronics conglomerate, has signed a Memorandum of Understanding (MoU) announcing its plans to enter the Indian solar market in collaboration with CleanMax Solar. The partnership aims to build on recent industry trends which make rooftop solar attractive in India. As of Q1, rooftop installations totaled approximately 850 MW according to Mercom’s Q1 India Solar Quarterly Update.
Under the partnership, the two companies will jointly offer rooftop solar solutions to Japanese companies across India. Hitachi’s role in the partnership includes approaching Japanese clients in India and also supplying solar modules to CleanMax, for the execution of solar projects and accessing low-cost Japanese financing. Through the partnership, the companies will offer both CAPEX as well as OPEX solutions for Japanese corporates to adopt solar power.
Kuldeep Jain, Managing Director, CleanMax Solar said, “In our experience, Japanese multi-national companies (MNCs) are typically unwilling to cut corners when it comes to their facilities, and this plays well to our strengths in building and operating high-performance, high-quality solar plants with an emphasis on safety and compliance. Our partnership with Hitachi High-Tech will help us to leverage these strengths towards what we see as a very important segment in the Indian market.”
Image credit: By Hitachi Software Engineering UK (Hitachi Software Engineering Ltd (Europe) [CC BY 3.0 (http://creativecommons.org/licenses/by/3.0)], via Wikimedia Commons
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.