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Germany-based SMA Solar Technology AG, which makes photovoltaic inverters, has set up a wholly-owned Indian subsidiary, SMA Solar India, in Mumbai.
With sales of €1.9 billion in 2010, the SMA Group is a global leader in the PV inverter market and has 19 overseas subsidiaries.
The company already has 200 megawatt (MW) of business in India since 2010 in off-grid, roof-tops and utility scale power plants.
Mr Marko Werner, Chief Sales Officer and Board Member, SMA Solar Technology AG, said, “Globally, our market share in the PV inverter segment is 40 per cent, spread over 18 countries and the expansion in India is consistent with our overall growth strategy for increasing global market share. We are here to lend our expertise and experience to the growing demand of this sector. We see India becoming one of the top markets in the PV industry.”
The company would continue to ship inverters from Germany where it has 11-gigawatt (GW) capacity, he said.
SMA offers modern system technology for grid-tied solar power plants and a stable solution for backup and off-grid systems. The India operations with service hubs in Mumbai and Ahmedabad will have a dedicated technical sales support function, project management and after sales support teams.
Mr Rakesh Khanna, General Manager, SMA Solar India, said the inverter cost is about 10-15 per cent of the MW cost, depending on project requirements.
A MW cost of crystalline solar plant is about Rs 14 crore, which is inclusive of the inverter.
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