Key Takeaways
- Crompton Greaves Consumer Electricals secured a ₹52 crore solar rooftop order in Telangana.
- The company aims to expand its market potential from ₹75,000-₹1 lakh crore to ₹2 lakh crore.
- This order marks their entry into the solar rooftop market, with a projected opportunity size of ₹40,000–₹50,000 crores.
Company Announcement
Crompton Greaves Consumer Electricals, based in Mumbai, has announced a significant milestone with its first major solar rooftop order valued at ₹52 crore in Telangana. This development is part of the company’s broader strategy to tap into the growing market for solar energy solutions.
The company aims to increase its total addressable market from an estimated ₹75,000-₹1 lakh crore to ₹2 lakh crore, highlighting its commitment to sustainable energy initiatives. According to an official statement, the combined market opportunity for solar pumps and solar rooftops is projected to be between ₹40,000 and ₹50,000 crores.
Promeet Ghosh, the Managing Director and CEO, emphasized the importance of this order by stating, “Securing our first major solar rooftop order is a significant milestone for the category. The potential for this ₹20,000–₹25,000 crores category is immense, and we are committed to driving innovation and excellence as we expand our footprint.”
This order not only represents a commercial debut for Crompton in the large solar rooftop segment but also signifies its commitment to enhancing the growth of sustainable energy solutions in India. The company’s strategic focus on innovation and excellence is expected to help it capture a significant share of the burgeoning solar market in the coming years.
As the demand for renewable energy solutions rises, Crompton Greaves is poised to play a pivotal role in delivering sustainable options to the Indian energy landscape. With this new order, the company is stepping into an area of potential growth that aligns with national and global trends towards greener energy alternatives.
In summary, Crompton Greaves Consumer Electricals is taking bold steps in the renewable energy sector with its inaugural solar rooftop project, reflecting its ambitions to lead within a market that is rapidly evolving and expanding.
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