Published On: Mon, May 29th, 2017

Hitachi Enters Indian solar market

Japanese electronics and instrumentation major Hitachi High-Technologies Corporation enters into the Indian solar market, in collaboration with Mumbai based Energy solution provider CleanMax Solar India. The two companies signed a memorandum of understand (MoU) to jointly offer high-end rooftop solar solutions to Japanese companies across India.

CleanMax Solar’s Managing Director, Kuldeep Jain said that the MoU is the first step towards a long term partnership structure.  At this point in time, the two companies are operating on a “pre-agreed profit sharing model

Under the partnership, CleanMax Solar and Hitachi High-Tech aims to enable Japanese corporates in India to adopt green energy practices by providing them solar power in a low-risk, economical and reliable manner.

The partnership would build on recent industry trends which make rooftop solar significantly cheaper than grid tariffs in the country. Through the partnership, the companies will also offer both capex as well as opex solutions for Japanese corporates to adopt solar power.

As per the agreement, Hitachi High-Tech’s role in the partnership will include approaching Japanese clients based on customer basis already established thorough existing business in various field, supplying cutting edge technology solar PV panels and considering low-cost Japanese financing.

CleanMax Solar, on the other hand, will offer its expertise in developing, building and maintaining solar projects in India. The partnership also envisions possible expansions to other international markets in the future.

CleanMax Solar specialises in setting up rooftop solar plants. It has set up over 200 plants, totalling over 80 MW. The company, founded in 2011, also works on ‘opex model’, where it sets up the plant at its own cost on the customers’ roofs and sells only the energy. Its customers include marquee names such as Tata Communications, HCL, Nestle, Hines, SKF, Tata Coffee, Tata Motors, GE, HCL, Pune University, Manipal Univesity, Mahindra World City, Konecrames and Bangalore International Airport Ltd.

With this experience, CleanMax brings to the table its expertise in developing, building and maintaining solar projects in India, said Jain, an IIM-Ahmedabad alumnus and a former McKinsey executive.

The $5.6-billion Hitachi High-Tech company’s General Manager, Electronic Components & Materials Department, Ichiro Matsuba, said that the partnership will add “significant value to Japanese companies in India”, arising out of its deep understanding of their requirements of high quality solar power plants. The partnership also envisions possible expansions to other international markets in the future.

© 2014 Media N Press Communications. All Rights Reserved.
Subscribe to Infrabuddy Newsletter
Subscribe