By entering into this new foray, yoga guru's company will mark its debut in the infrastructure sector.
Baba Ramdev owned Patanjali Ayurved plans to invest Rs 100 crore for manufacturing solar power equipment. This comes as company's bid to focus on 'Swadeshi' movement.
In an interview to Hindustan Times, Acharya Balkrishna, managing director of Patanjali Ayurved, said, "Getting into solar is in line with the swadeshi movement. With solar, each household in India can have power supply, and we are here to make that happen."
By entering into this new foray, yoga guru's company will mark its debut in the infrastructure sector.
Patanjali has already setting up new records every quarter in the FMCG sector. "The government has been working on the solar industry, and even offering sops. We will manufacture solar panels in India without compromising the quality. But we are not going to get into a price war with the Chinese solar panels," Balkrishna added.
According to the newspaper, Patanjali had already acquired Advance Navigation and Solar Technologies Private Limited, a manufacturer of navigation aid equipment, earlier this year.
At present, the facility has a manufacturing capacity of 120 megawatts. Patanjali plans to invest around Rs 100 crore in solar equipment manufacturing and its factory in Greater Noida is expected to be fully operational within the next couple of months. “This started with our plan to use solar as a source of power in all our factories. That time we understood (that) most of the solar modules come from China. And there was no quality consistency even in India-made ones,” Balkrishna told the publication.
Sharing the current status of the solar project, Balkrishna said, "We started with making solar modules for our captive use initially and then decided to utilize existing capacity to manufacture solar modules and sell in the market. This unit is at a nascent stage at the moment."
Recently, solar power tariffs has witnessed a sharp reduction with the lowest tariff of Rs 2.44 / kwh in the bidding held in May 2017 for the Badla solar park in Rajasthan.
However, the recent increase by about 15% in imported photovoltaic module prices, if sustained, could have an adverse impact on the viability of solar power projects with tariffs lower than Rs 3.5 per unit.
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 "Baba Ramdev's Patanjali to step into solar power business, will invest Rs 100 crore")
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