Kavitsu, a manufacturer of transmission gears, and DEGERenergie GmbH, a German PV tracker company have announced to set up a solar PV trackers manufacturing facility in Satara, Maharashtra. The new entity will be called KAVITSU DEGER India Pvt. Ltd.
Both the companies will invest around €20 million (~$23.18 million) in the first two years to set up the manufacturing facility for complete line of turnkey projects in the solar PV energy field. They are expecting to set up around 200 MW solar farms within the next two years and increase the market share to around 1 GW by 2022.
The production in the facility will start within the next three months.
“India is a great country with ever expanding energy needs. It is also one of the most price sensitive markets in the world. This new JV between an Indian and German company will assure the clients that they will be getting German quality and reliability at Indian prices”, said Kaustubh Vasant Phadtare, CEO of KAVITSU DEGER India Pvt. Ltd.
DEGER will bring its patented MLD sensor from Germany, which is expected to help to achieve as much as 45 percent more energy output as compared to an equivalent fixed PV system. The rest of the production will be carried out in the Satara facility. It will manufacture 70 percent of single axis trackers and 30 percent will be reserved for dual axis.
Hünkar Korkmaz, CEO of DEGER Group said, “We are more than happy to have found someone who has great interest in renewable energy production and will help India grow. We are eyeing a market share of around 50 percent in the coming few years.”
According to Mercom India Research India Solar Market Leaderboard 2018 NEXTracker was the top tracker supplier to the Indian solar sector in terms of cumulative shipments at the end of 2017, followed by Arctech Solar.
As of 2017, there were over 30 tracker suppliers to the Indian solar market. NEXTracker has over 1 GW in tracker sales to India. Top 3 tracker suppliers account for almost 70 percent of the market share in India.
Image credit: Fmsierra1978 own work via Wikimedia Commons
Nitin is a staff reporter at Mercomindia.com and writes on renewable energy and related sectors. Prior to Mercom, Nitin has worked for CNN IBN, India News, Agricultural Spectrum and Bureaucracy Today. He received his bachelor’s degree in Journalism & Communication from Manipal Institute of Communication at Manipal University and Master’s degree in International Relations from Jindal School of International Affairs. More articles from Nitin Kabeer