Fuji Electric India, the 100 per cent subsidiary of Japanese $8.3 billion power and electricals giant Fuji Electric, is mulling a foray into the solar inverters and batteries business in India.
The move is part of a larger strategy to leverage the parent company’s expertise in established business segments and gradually roll them out in India.
Fuji Electric is currently focusing on expanding its three existing product segments – Un-interrupted Power Supply (UPS) systems, Variable Frequency Drives (VFD) that boost energy efficiency and automation products. This expansion is part of a Fuji Electric (FE) 2.0 strategy unveiled in November last year.
The FE 2.0 strategy will help propel their India revenue from the existing Rs 660 crore annually to 1,500 crore by 2024. For this they are looking at entering into emerging applications coming up in the areas of energy storage, electric vehicle charging, inverters for megawatt scale solar power plants with cutting edge products, technology and services with a focus on energy efficiency.
The plan is to launch solar inverter business first along with setting up a facility for manufacturing and assembly of different components into Megawatt-scale solar inverters . The proposal is still under initial stages of discussion.
This is a Syndicate News-Feed