India's solar manufacturing sector is on a growth trajectory as more companies look for opportunities outside their home market, with Navitas Solar taking the first step with a project in Africa and Zambia. It has ventured into the EPC (engineering, procurement, and construction) segment by winning the contract for an upcoming solar generation project in Zambia.
Africa Emerges As A Key Growth Market
Navitas Solar’s Zambia project is an important part of Navitas Solar’s international expansion plan. The company, which was mainly engaged in manufacturing photovoltaic solar modules, is now extending its business model to include turnkey project implementation.
Africa has become an attractive place for Indian renewable energy firms because of growing electricity demand, availability of solar energy resources, and increasing government support for clean energy projects. A number of countries in Africa are speeding up renewable energy development to enhance their electricity access, and there is an effort to reduce reliance on fossil fuels as well.
EPC Expansion Supports Longterm Strategy
As a result of entering the EPC sector, Navitas Solar will establish itself in each activity from project conception to the beginning of its operations and execution. Consequently, the company will gain access to greater resources of renewable energy and enhance its presence internationally.
The project in Zambia will benefit the company as it will improve its ability to carry out projects and create demand for similar projects on the African continent. According to expert estimates, Indian companies have an edge as a result of low-cost manufacturing adhering to the principles of green engineering due to the experience accumulated in the dynamic solar sector of India.
With various governments across Africa funding the development of renewable energy infrastructure, Indian companies have positioned themselves as providers of technologies and projects. The ongoing increased need for solar energy systems will translate into new opportunities for Indian manufacturers and EPC firms. |
