MECASOLAR, the multinational tracking manufacturing company, announced today its further expansion in India with a major new cooperation with Anchor Electricals Pvt. Ltd.
(A Panasonic Group Company). The two companies are forming a new strategic partnership under which Anchor by Panasonic undertakes to exclusively control the production and distribution of the state-of-the-art products of MECASOLAR, namely HYPERION-SR and HYPERION-MR. This set-up is expected to serve the growing demand that is experienced in the domestic market of India, as well as the surrounding region in SE Asia and Africa. The long history of MECASOLAR in the R&D and production of solar tracking equipment combined with the well-fitted and established presence of Anchor by Panasonic in the renewable sector of India reassures the superior value proposition in terms of product quality, vendor credibility and production dynamics.
Mr. Dinesh Aggarwal, JMD of Anchor by Panasonic India says, “India is on an ambitious path of adding renewable energy, especially Solar, wherein from 2.63 GW installed capacity in 2014 has increased to 22GW at present, an eight fold increase. It has taken on an objective of achieving 175GW by Year 2022. We would like to be an integral part of this growth by enhancing the efficiency of power generation in every possible way. Solar Tracker is very cost effective way of achieving such an efficiency and our association with MECASOLAR, a global leader of Tracking Systems will help us serve India it’s energy needs. With MECASOLAR, our Customers will be assured of a highly reliable product with a proven technology and high quality standards.”
In his turn, Mr. Alexandros Giannis, CEO of MECASOLAR stated: “We are truly proud to establish this production and distribution hub in India together with Anchor by Panasonic. Indian market and the surrounding regions constitute an exceptional area of interest for us and we could not imagine a more visionary approach than the synergy created with Anchor by Panasonic.”
Anchor by Panasonic
Headquartered in Mumbai, Anchor Electricals Private Limited started nearly five decades ago and became a subsidiary of Panasonic Electric Works in 2007. It is one of the largest domestic manufacturers of electrical construction materials with 8 manufacturing locations and boasts of 28 domestic offices and has employee strength of about 9000. Its sales and operating profit are steadily growing and it ended the last financial year with net sales of INR 29.36 billion. It has a dominant market share in Wiring Devices and it is constantly expanding its product range and growing market shares in Switchgears, Wires, Cables & Tapes, Conduit pipes, Lighting, Solar, Housing, Power Tools and Indoor Air Quality. Anchor aims to double its turnover in the next three years from the existing and some new product categories for which Solar plays an indispensable role