Coimbatore: V-Guard Industries, which makes consumer electrical and electronics products, has invested Rs. 18 crore in its Greenfield solar water heater manufacturing facility at Perundurai near Erode. The plant has the capacity to make 90,000 units of solar water heaters a year.
“We aim to reach the top position in the solar water heater category in the next two years,” said V Ramachandran, director, marketing and strategy, V-Guard Industries. The unit would also be utilised for catering to the overseas markets, he said.
The plant, which has a built-up area of 90,000 sq. ft., will produce polymer and stainless steel tanks for solar water heaters.
Leveraging the cost effectiveness of solar water heaters with polymer tanks, the Kochi-based company is planning to penetrate rural markets and other rural markets in the country.
The Perundurai plant will go live from Wednesday.
V-Guard, which started in 1977 as a voltage stabilizer manufacturer, has now diversified into inverters, digital UPS systems, wiring cables, fans, pumps and solar water heaters.