Sungrow backs long-term strategy to capitalise on ‘vibrant’ India market

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Image: Sungrow.

Sungrow is backing a long-term strategy for the Indian solar market, targeting growth in the rooftop segment while lining up more deals with independent power producers (IPPs) in the country.

Late last month Sungrow toasted a strategic agreement with domestic IPP Avaada Energy which will see the Chinese manufacturer supply Avaada with 650MW worth of its 1500V 3.125MW inverters for use in Avaada’s upcoming solar projects.

At the time Sungrow said that the flexible 6.25MW or 12.5MW block design held the potential to minimise system costs, making them ideal for richly competitive tender-led solar environments such as India.

That deal, however, is one of a number Sungrow says it has landed with IPPs in the country as it looks to target developers delivering projects under India’s ISTS tenders, due to executive in both 2020 and 2021.

Sungrow said those deals had consolidated its position in India’s utility-scale solar inverter market, but the firm had also placed the rooftop and residential markets in its crosshairs.

Earlier this week analysis published by JMK Research & Analytics revealed that India’s rooftop inverter market was being dominated by three Chinese manufacturers, of which Sungrow is one. Sungrow’s share of India’s rooftop solar market is expected to be around 15%, according to the analysis.

Sungrow said it had managed to strengthen its position in the rooftop market by achieving 100% year-on-year growth, driven by the creation of a widespread service and distribution network in the country. Inverters in the country are manufactured in a 3GW factory established in 2018.

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