Tata BP Solar CEO resigns as Chinese rivals hurt Indian market

- Advertisement -

The chief executive officer of Tata BP Solar Ltd resigned, exiting India’s third largest panel maker as the industry struggles to cope with oversupply from Chinese competitors that’s crushed prices, says a Bloomberg report.

K Subramanya said in an email that he is resigning as the head of the solar company and that he hasn’t decided yet what he will do next. He didn’t provide a reason for his resignation.

Indian panel makers such as Tata BP, Indosolar Ltd (ISLR) and Moser Baer India Ltd (MBI) are struggling along with counterparts in the US and Europe after lower cost Chinese manufacturers boosted supply. Germany and Italy, the two biggest markets for the technology, have scaled back subsidies for renewable energy.

- Advertisement -

Indian manufacturers received almost no orders for the more than 700 megawatts of sun-powered capacity under construction in the nation last year and have idled their factories, Subramanya said in an interview in December.

Tata Power Co (TPWR), the utility arm of the industrial group that owns Jaguar Land Rover, agreed to buy out BP Plc (BP/)’s stake in the Indian joint venture in December after the British oil company said it was winding down its solar business worldwide.

Prices of silicon based panels plunged 47 per cent in the past year, helping to tip at least seven US and German manufacturers into bankruptcy.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Digital India Conference of State IT Ministers Concludes

0
The officials discussed startups, emerging technologies, skilling, digital governance, and the semiconductor ecosystem The 3-day long Digital India Conference of State IT Ministers, which began...

Silicon Labs Joins IIITH To Launch Wi-SUN Network

0
IIIT Hyderabad Smart City Living Lab partners with the company to enable research for smart cities applications IITH Smart City Living Lab and Silicon Labs...

IMC 22: IT Minister Launches Multi Access IoT Device

0
The Made In India MAID showcased Indian technical competencies harmonised to global standards, said the company At the India Mobile Congress 2022 in Delhi, the...

Exclusive

Digital India Conference of State IT Ministers Concludes

0
The officials discussed startups, emerging technologies, skilling, digital governance, and the semiconductor ecosystem The 3-day long Digital India Conference of State IT Ministers, which began...

Silicon Labs Joins IIITH To Launch Wi-SUN Network

0
IIIT Hyderabad Smart City Living Lab partners with the company to enable research for smart cities applications IITH Smart City Living Lab and Silicon Labs...

IMC 22: IT Minister Launches Multi Access IoT Device

0
The Made In India MAID showcased Indian technical competencies harmonised to global standards, said the company At the India Mobile Congress 2022 in Delhi, the...

Important Sectors

Digital India Conference of State IT Ministers Concludes

0
The officials discussed startups, emerging technologies, skilling, digital governance, and the semiconductor ecosystem The 3-day long Digital India Conference of State IT Ministers, which began...

Silicon Labs Joins IIITH To Launch Wi-SUN Network

0
IIIT Hyderabad Smart City Living Lab partners with the company to enable research for smart cities applications IITH Smart City Living Lab and Silicon Labs...

IMC 22: IT Minister Launches Multi Access IoT Device

0
The Made In India MAID showcased Indian technical competencies harmonised to global standards, said the company At the India Mobile Congress 2022 in Delhi, the...

Tata’s Act For Biodiversity Conclave Brings Green Hope

0
The conclave witnessed the presence of Mr Jamshyd Godrej, Ms Anjali Bansal, Mr Ricky Kej and Mr Kavinder Singh among others Tata Power, India's leading...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

Manufacturing

Electronics Major Molex Expands In Hanoi

0
The fully integrated connector manufacturing facility in Vietnam will be laced with advanced tech and capabilities, said the company Global electronics and connectivity major Molex...

MediaTek & Invendis Join Forces For ‘Made in India’ 5G Routers And Wi-Fi

0
In-line with 'Vocal for Local', Silbo Routers are completely indigenous, says Invendis IoT and Cloud Computing solutions provider Invendis and semiconductor company MediaTek recently announced...

PLI Scheme Can Help States Become Destinations For Electronics Manufacturing: MoS

0
The manufacturing plant has been set up under the Production Linked Incentive (PLI) scheme At the recent opening ceremony of Pegatron mobile manufacturing facility, the...

Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

0
The company aims to meet the increasing demand for its mobile energy storage product lineup In its Series B funding round, the US-based Renewable Energy...

Wind Power Brings Continuum And GE Renewable Energy Together

0
Commercial and industrial establishments will receive the wind power produced in the respective states As per a recent announcement, GE Renewable Energy is set to...