Kochi-based V-Guard Industries plans to export solar water heaters and is exploring opportunities in the SAARC (South Asian Association for Regional Co-operation) countries.
The company’s Director (Marketing and Strategy) V. Ramachandran told reporters here on Tuesday that the company would inaugurate an integrated solar water heater manufacturing unit at Perundurai, near Erode, on Wednesday.
The plant, which has come up at an investment of Rs. 18 crore, has an installed production capacity of 90,000 units a year.
It started production in April this year and is making about 2,000 units a month now. V-Guard manufactures stainless steel and polymer tanks and assembles the heaters at Perundurai. It imports the solar tubes for the heaters.
Since the capacity of the plant is huge, it can look at the export market, apart from the domestic opportunities. The company plans to start exporting from early 2014. The market size for solar water heaters in the country is estimated at around Rs. 600 crore, and it is growing at 15 to 20 percent annually.