Micromax ventures into solar panel manufacturing with China’s Jinchen: Report
Mumbai: Micromax Informatics is entering the solar panel manufacturing sector with the launch of Startup Energy, a new venture in partnership with Chinese solar equipment maker Jinchen, media reports said.
The initiative aims to produce affordable solar panels for residential, commercial, and industrial applications.
As part of this expansion, Micromax has signed a strategic contract with Jinchen to establish a 5GW advanced solar module manufacturing line, reported Moneycontrol.
The project will be implemented in phases, integrating automation and high-efficiency production technologies to deliver cost-effective and high-quality solar solutions.
Startup Energy will set up a manufacturing facility with precision engineering and automation to support this vision.
Additionally, the company plans to explore strategic R&D partnerships to develop next-generation solar technologies, focusing on energy efficiency and sustainability.
Rajesh Agarwal, Managing Director of Micromax Informatics told Moneycontrol, “With Startup Energy, we are extending our expertise into the renewable energy sector, making clean power more accessible, reliable, and cost-effective for individuals and businesses.”
Micromax’s foray into solar energy aligns with India’s self-reliance goals and the government’s target of achieving 500GW of renewable energy capacity by 2030.
With India’s installed solar capacity surpassing 72GW as of 2023, the demand for locally manufactured, high-quality solar panels is rising—an opportunity Startup Energy aims to tap into.
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