Chandigarh, March 30, 2019:The Adani Group’s solar manufacturing arm, Adani Solar announced today the launch of their retail distribution business in Chandigarh with BNK Energy as exclusive Channel Partners for the region. This marks an important milestone for Adani as it continues to contribute to the Indian renewable energy sector. This partnership is a stride towards facilitating consumers and SME, MSME or institutions in Punjab and Haryana to switch to sustainable solar power at among the lowest capex costs.

Among the Indian Solar panel manufacturers, Adani maintains the market leadership. Adani is the only manufacturer with IEC 2016 certification in all SKUs. Solar power is the fastest growing source of electricity generation as the government is increasingly introducing clean energy targets. Having announced the retail channel partners in Rajasthan, Uttar Pradesh, Delhi and Gujarat, Adani Solar has been expanding its retail presence across the country.

For consumers, installing off-grid Adani solar panels will help them mitigate power-cut challenges and on-grid will assist in reducing overall electricity costs and usage in Punjab and Haryana region. As per the proposal submitted last year, Punjab is likely to seek 21% of its total power consumption from renewable sources by 2022. This would include 10.5% from non-solar renewable sources, including wind, biogas, small hydropower stations and 10.5% from solar generation.

Commenting on the announcement, Mr. Ramesh Nair, Chief Executive Officer, Adani Solar, said, “We are extremely honoured to have partnered with BNK Energy in the retail distribution space. The Indian renewable energy sector has witnessed tremendous success in installed renewable power generation capacity in last few years. With this development, we will be able to offer our customers genuine solar panels at competitive rates in their respective markets for all applications. M/s BNK Energy will be our exclusive authorized channel partner and first touch point, offering complete services in Punjab and Haryana . We aim to achieve a greater reach and visibility of our product in the country by bringing down power consumption costs for our consumers across the country and reducing load on the grids. On the retail front, Adani Solar will target an aggressive 50% market share.”

M/s BNK Energy as the authorized channel partner of Adani Solar will be responsible for all the retail requirements across the state. They will be assigned an exclusive territory to manage orders of solar panels up to 150KW and be responsible for overall lead generation, conversion and service. As per the projections given by Punjab Energy Development Authority (PEDA) for capacity addition of renewable energy, the state is to add 4,774.8MW through renewable sources till 2022, which includes 4,120MW from solar. Punjab as a region has great potential due to availability of ample sunlight and a customer friendly state policy that supports abundant solar power generation.

About Adani Solar

Adani Solar - Mundra Solar PV Ltd, is the solar PV manufacturing arm of Adani Group, one of the India's largest business houses with businesses spanning across Resources, Logistics, Energy, Agri and ancillary industries. Adani Solar is the first Indian company to vertically integrate businesses that offer services across the spectrum of photovoltaics manufacturing.

The state-of-the-art manufacturing facility with multi-level infrastructure is optimized for scaling up to 3 GW of modules and cells under a single roof. The unit is located in one of the world's largest Special Economic Zone at Mundra, Gujarat and hence plays host to the entire solar manufacturing ecosystem from Polysilicon to modules, including ancillaries and supporting utilities. The cutting-edge technology, with machines and equipment sourced from the best in class producers, aim to help in cost leadership, scale of operations and reliability standards as per global benchmarks.