New Delhi: Consumer electronics brand Micromax Informatics on Wednesday announced its entry into renewable energy business by launching a new venture ‘Startup Energy’ to produce solar panels.
As per the company, Startup Energy will focus on producing solar panels for residential, commercial, and industrial applications.
“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. By investing in advanced solar panel manufacturing, we aim to support India’s mission for energy self-reliance while actively contributing to a greener, more sustainable future by reducing our carbon footprint,” said Rajesh Agarwal, Managing Director, Micromax Informatics.
Gurugram-based Micromax has signed a strategic contract with Jinchen for the phased deployment of a 5GW advanced solar module manufacturing line. This project will be executed in multiple phases.
“By leveraging Jinchen’s advanced manufacturing expertise and Micromax’s proven ability to scale technology-driven innovations, Startup Energy will play a crucial role in accelerating India’s transition to clean energy,” Micromax said in a media release.
India’s solar energy sector has witnessed rapid growth over the past few years. With the government targeting 500 GW of renewable energy capacity by 2030, there is an increasing demand for high-quality and locally manufactured solar panels.
