Wednesday, March 28, 2007

Danish company buys 50% in Indian Solar firm

Danish solar products company SolarCap has bought a 50% stake in Emmvee Solar Systems, a Bangalore-based manufacturer of solar water heaters and photovoltaic modules.

Emmvee produces the "Solarizer" brand of solar heaters. Following the infusion of cash from the stake sale the company is looking to expand its capacity from the current 500,000 sq m to 2 million sq m within the next 6 months. It also gives Emmvee the access to technology from SolarCap as well as a range of solar thermal products which can be launched in the Indian and global markets.

In addition to getting cash to expand, the Indian company here also gets a strategic global partner and the capability to overhaul its range of solar thermal products to global standards, thus giving it a competitive edge in the global economy. This should be seen as another important way for Indian companies to move up the ladder towards ensuring their survival in an increasingly global market.

Emmvee also operates a fully automated manufacturing facility for solar photovoltaic modules, which was installed by Spire Corporation last year. The plant has equipment for "solar cell stringing and lay-up, lamination and module testing as per IEC standards", and a capacity of 15MW. Production is mainly for export.