New Delhi: Japanese firm Sharp on 11 September announced the launch of its solar business in India with an aim to take over 20% of the Rs600 crore domestic market by 2010.
“We hope to achieve Rs100 crore turnover in next three years from our solar business in India but the company’s internal targets are much higher,” Sharp Business Systems India Managing Director Sunil K Sinha told reporters here.
He said solar energy business in India was around Rs400-500 crore and was expected to touch Rs600 crore in next three years and the company was eyeing 20% share of this market.
The company did not rule out the possibility of manufacturing solar cells in India if there was huge demand and policy initiative from the government.
“Manufacturing in India is understudy depending on demand in the country and policy announcements from the governments for Grid connect power plants,” Sinha said.
Sharp Business Systems India is one of the three subsidiaries of Sharp in India which sells multimedia projectors, facsimiles, electronic registers, LCD displays and electronic calculators in the country.
In the solar energy harnessing products, Sharp offers a range including Mono and Multi Crystalline Modules and focuses on new technologies like thin film silicon solar cells.
“Sharp has capability to provide complete solutions across all sectors including small lighting systems for rural application, power pack for railway and telecom application and large capacity plants for corporates, lighthouses and satellites,” Sinha said.
Last year, Sharp’s global turnover from its solar business stood at $1.3 billion. It has recently set up a facility in Japan to manufacture solar cell capable of harnessing 710 MW per year.