Microtek invests over Rs 400 cr to accelerate solar business growth

Microtek has announced an investment of over Rs 400 crore to accelerate the growth of its solar business.

As part of its expansion plans, Microtek has invested over Rs 400 crore and is setting up a new solar panel manufacturing plant in Jaipur, which is expected to become operational by November 2026, the company said at the renewable energy expo 2026 concluded on Saturday.

Led by its 'Har Ghar Bijli Ghar' vision, the company will introduce its new Battery Energy Storage System (BESS), highlighting its focus on making reliable energy solutions accessible to households and businesses, the company said in a statement issued on Sunday.

With nearly four decades of power management experience, Microtek's portfolio spans four pillars: power generation, distribution, conditioning and storage.

At the expo, the company showcased its home inverters, UPS systems, batteries, electrical wires, solar panels, solar inverters and lithium batteries.

Supporting initiatives such as PM Surya Ghar: Muft Bijli Yojana, which aims to bring rooftop solar power to one crore households, the company offers solutions that help consumers generate, store and manage electricity efficiently, reducing dependence on conventional power sources.

N K Aggarwal, Founder & Chairman of Microtek International Pvt Ltd, said, "Our vision of 'Har Ghar Bijli Ghar' reflects our ambition to help households generate and manage their own electricity. Our portfolio across generation, distribution, conditioning and storage builds on nearly four decades of experience in keeping power reliable. Through our BESS and lithium-based solutions, we are strengthening our capabilities to serve India's changing energy needs."

Microtek's reach is supported by over 1 lakh dealers across India. The company expects to more than double revenue in FY27 to Rs 5,000 crore, with an ambition to reach Rs 10,000 crore within two years, it said. - PTI