Joint Venture signed between DEGER Energie GmbH & Co. KG, Germany and KAVITSU GROUP India for Solar Tracking Systems
DEGER Energie GmbH & Co. KG, Germany based leading manufacturer of single and dual axis Solar Tracking Systems, which helps in harvesting maximum solar energy during the day, compared to fixed structures.
DEGER has agreed to enter Indian Market with KAVITSU ROBOTRONIX Pvt Ltd., KAVITSU Group of company.
DEGER was founded in 1999 in Germany. In 2005 DEGER opened its branch office in Spain, in 2009 the branch office in Greece followed by 2011 a branch office in Australia, 2014 in South Africa and 2015 in Canada, Egypt and Turkey. DEGER produces in Germany, Turkey, Canada and South Africa.
A new Joint Venture company KAVITSU DEGER Pvt. Ltd., will be serving Indian & South East Asian market, via new Joint Venture manufacturing facility in Satara, Maharashtra.
KAVITSU Group started in 1992, under the ownership of Mr. Vasant Phadtare, is a leading organization in manufacturing of Industrial Gear Boxes, Electric Motors & Slew Bearing, with 4 manufacturing facilities in Satara, India.
Ministry of New & Renewable energy, Government of India is Targeting 175GW till 2022, which opens huge potential for German Company DEGER in India. The huge boost in the country’s renewable energy target will mostly comprise of solar (250 GW) and wind power (100 GW). Minister Mr. Piyush Goyal said India should strive for 50% of its power generation capacity from Renewable sources by 2030.
India is one of the countries with the largest production of energy from renewable sources. A new Joint venture will have the advantage of Latest German Technology & know-How & Economic Quality Manufacturing India, says Mr. Kaustubh Phadtare – CEO of KAVITSU DEGER Pvt. Ltd.
We are eyeing towards having 50% market share of Indian Solar Tracking Industry says, Mr. Hünkar Korkmaz – CEO of DEGER Group.
This Joint Venture was initiated & executed by Crescendo Worldwide, Leading Advisory company based in India & Germany.
Vice President of Crescendo Worldwide Mr Bharat Kulkarni said that India’s renewable energy sector attracted investments of over $42 billion over the past four years and green energy projects have created over 10 million man-days of employment per annum over the period. India is progressively becoming a most-favoured destination for investment in renewables. 100% FDI as equity qualifies for automatic approval.
In Picture from Left Mr. Bharat Kulkarni, Vice President Crescendo Worldwide, Mr. Kaustubh Phadtare – CEO of Kavitsu DEGER Pvt. Ltd., Mr. Hünkar Korkmaz – CEO of DEGER Group, Mr. Vasant Phadtare President of Kavitsu Group, Ms. Komal Bajaj, Head Global Strategic Partnership Crescendo Worldwide.