Adding to its presence in Asia with subsidiaries in China, Korea, Singapore and Taiwan, centrotherm photovoltaics has opened its newest subsidiary located in Bangalore, India. The company looks to this new office to magnify its sales and service endeavors in the growing Indian PV market.
centrotherm’s expansion into the Indian solar market will help put the company in a good position to take advantage the “National Solar Mission”, which aims to create 20GW of solar electricity by 2022. The government program further dictates that starting next year, crystalline solar cells for their domestic market must be manufactured in India. “This local content regulation will act as an additional growth driver. With our subsidiary in India we have taken a key step to tap these tremendous potentials by way of our local presence”, explained Dr. Thomas Riegler, CFO of centrotherm photovoltaics.
“Moreover, it is our declared aim to offer advanced, leading edge technology and excellent service by our closeness to customers. We have already been maintaining partnerships with our Indian customers over many years. And we are firmly convinced of the further, successful and sustained development of the Indian photovoltaics market,” concluded Riegler.