NEW DELHI: Micromax Informatics, India’s consumer electronics brand, announced its entry into the energy sector on Wednesday with the launch of a solar panel manufacturing venture.
The company has established a new entity, “Startup Energy”, to focus on producing high-efficiency solar panels for residential, commercial, and industrial applications. Micromax Solar aims to provide affordable and scalable solar power solutions across India.
“With Startup Energy, we are extending this vision to the renewable energy sector, bringing our expertise in cutting-edge solutions to solar power. Our goal is to make clean energy more accessible, reliable, and cost-effective, ensuring that individuals and businesses alike can benefit from sustainable power solutions,” said Rajesh Agarwal, Managing Director, Micromax Informatics.
As part of its expansion, Micromax has signed a strategic contract with Jinchen for the phased deployment of a 5-gigawatt (GW) advanced solar module manufacturing line.
This project will be executed in multiple phases, integrating state-of-the-art automation and high-efficiency module production technologies to deliver world-class solar solutions.
To support this vision, Startup Energy will establish a state-of-the-art manufacturing facility, equipped with advanced automation and precision engineering to ensure world-class quality and efficiency.
The company will also explore strategic R&D partnerships to develop next-generation solar solutions, enhancing energy efficiency and long-term sustainability. India's solar energy sector has witnessed rapid growth, with the country's installed solar capacity surpassing 72 GW in 2023.
With the government targeting 500 GW of renewable energy capacity by 2030, there is an increasing demand for high-quality, locally manufactured solar panels—a demand that Micromax Energy aims to meet.