Manz Automation, a German solar technology firm recently formed a joint venture with the Indian company Technicom- Chemie to promote the generation of sun based power in the country. Another victory for humankind in its battle against global warming, this venture is positive news for the leaders of the world as they wait with baited breath for developing nations like India, China and Brazil to stop the blame game and make an effort towards reducing their carbon footprint. More importantly eco- friendly businesses are going to dominate global markets in the future.
The joint venture company, Manz Automation India Pvt Ltd, will market complex solar energy equipment and also provide technical support to their clients to optimize energy generation.
The German group is planning to start three projects in India and may even set up production facilities there.
The Managing Director of the new company, Ajay Chauhan, stated that they expected to have a turnover of Rs 1,500 crore (around $307million) in the current financial year.
Dieter Manz, the President and CEO of Manz Automation is very optimistic about the sector stating that at the moment, since the cost of such equipment is higher than conventional sources of energy, companies are wary of investing in it. He felt that once grid parity (cost equalization) takes place, this sector would see a boom.
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