As a yoga guru, Baba Ramdev has for years practiced and taught Suryanamaskar, now his business arm is saying hello to sun, quite literally – with solar power.
The rapidly growing business empire of the yoga guru now plans to venture into infrastructure projects with solar power equipment manufacturing.
“Getting into solar is in line with the swadeshi movement. With solar, each household in India can have power supply, and we are here to make that happen,” Acharya Balkrishna, managing director of Patanjali Ayurved, told Mint.
Patanjali which had earlier this year acquired Advance Navigation and Solar Technologies Pvt. Ltd, a navigation aid equipment manufacturer will invest some Rs 100 crore for solar equipment manufacturing.
The unit in Greater Noida which has a manufacturing capacity of 120 megawatts is expected to be fully operational within the next couple of months.
Acharya Balakrishna said Patanjali’s aim is to provide quality and cost-effective solar modules, unlike the Chinese made once which currently dominate the Indian market.
Patanjali’s foray into solar energy come at a time when there is an increasing awareness in the country about renewable and sustainable alternative power sources.
Over the years, India has seen an increase in the market share of renewable and clean energy sources like solar.
India has set an ambitious plan of generating 175 GW of renewable energy by 2022 from the existing cumulative capacity of 15.60 GW, out of which majority will be from solar.
If the track record of Patanjali is anything to go by, rest assured, its new venture to0 is going to be a runaway success just like how the company did wonders selling Ayurvedic products and FMCG goods.
Patanjali which was set up in in 2006, had a revenue turnover of Rs 10,561 crore in 2014-15 and aims to cross Rs20,000-25,000 crore by 2018.