Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Rudrapur: From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

In the first phase, the company has made an investment of Rs 120 crore in the solar panel manufacturing factory with a production capacity of 250 MW.

Luminous Power Technologies, with a net worth of over Rs 1800 crore and a turnover exceeding Rs 4,000 crore, is a leading player in the Indian inverter and battery market.

This capacity is expandable up to 1 Giga Watt as and when the company plans the next phase of expansion, Preeti Bajaj, MD and CEO, Luminous Power Technologies, said.

The launch was graced by legendary cricketer Sachin Tendulkar, who has been the Luminous Brand Ambassador since 2010.

Commenting on the development, Tendulkar said, “I have been associated with the company since 2010, and Luminous’s drive towards innovation has been remarkable.

“Most of the time, we plan many things but don’t act, or we act without planning. Here is one company, Luminous, that has planned and acted throughout its journey,” he added.

Luminous has forged a strategic alliance with one of the world’s largest renewable energy schools, The University of New South Wales, Australia for solar panel projects on reliability, value engineering, and component qualification.

“The solar panel factory in Rudrapur is a step forward for Luminous towards playing a bigger role in India’s road to Net-Zero. Our investment in this new manufacturing facility underscores our unwavering dedication to fostering sustainable practices and reducing the carbon footprint,” Bajaj said.

Solar will be a significant part of Luminous’ business, and the company sees it as a major growth enabler as “we aim to double our growth in the next 3 years,” she said.

With the state-of-the-art facility, Luminous aligns with the government’s Make in India mission along with encouraging ‘PM-Surya Ghar:Muft Bijli Yojna’.

UNI