Power electronics systems maker, AEG Power Solutions India Pvt Ltd, has set up its first manufacturing facility in India at an investment of Rs 100 crore.
The company, at its plant near Bengaluru, will manufacture solar inverters at the unit and has the capacity to manufacture 400 MW of solar inverters.
AEG will manufacture inverters of 250 MW and 500 MW capacities and will also provide its customers monitoring solutions for the units.
“With the National Solar Mission in place and the solar industry becoming more global, we see a huge market for the product in India which is looking at an installed capacity of 1GW from solar by next year,” Horst Kayser, CEO, AEG Power Solutions, said at a press conference.
“The solar installed capacity in India at the end of last year in terms of installations was about 37 MW and this is expected to grow to about 300 MW this year,” S.L. Sridhar Murthy, managing director of AEG Power Solutions India, added.