Thermax to bring low-cost flexible solar panels to India

The agreement with Power Roll includes developing the market for solar film in India

Thermax Group, one of the big players in the solar and renewable energy market in India, has partnered with Power Roll, a company that specializes in making low-cost, flexible solar films. According to the agreement between the two companies, Thermax will explore the opportunities of marketing the unique proposition in the Indian market and also assess the potential of setting up a manufacturing plant in India for local production.

The joint activity will include identifying applications for lightweight solar film and green energy solutions for the region. Over the agreement period, the parties will share knowledge on the low-cost production processes, efficiency and identify compelling use cases for solar film in India. A successful conclusion to the agreement will see Thermax license Power Roll’s technology for commercial manufacture and sale of solar film in India.

“We are happy to partner with Power Roll, a technology company introducing innovative green solutions. We look forward to this partnership as a lever to increase the adoption of solar technology for a variety of applications in line with India’s ambitious renewable energy targets,” said Ashish Bhandari, MD & CEO, Thermax.

“We are especially excited about the potential for our solar film in India and delighted to be working with Thermax,” said Neil Spann, CEO, Power Roll. “Thermax has the right mix of renewable energy and manufacturing expertise, as well as the size and scale, to be a successful manufacturing partner in India. Our technology licensing model is perfectly aligned with the country’s ‘Make in India’ self-reliant strategy and world leading ambition to deploy 280 gigawatts of solar energy by 2030. This agreement with Thermax, which follows our recent partnership with one of Japan’s leading energy companies, opens up another significant new market for solar film,” Spann added.

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