India’s leading solar technology manufacturer SolarEdge is planning to increase production of batteries to 500 million units annually by 2021 from the current 150 million units, the company said in a regulatory filing on Tuesday.
The company plans to increase its production of Li-ion battery packs to 2 billion units annually from 100 million units currently, according to the filing.
The filing said the plan to increase the production of the batteries would be implemented in 2020 and will result in significant savings to the company.
SolarEdge, the largest solar panel maker in India, said the battery will be manufactured in a facility in the southern state of Kerala that has been operating under an NOC.
The company said it plans to expand the manufacturing capacity of its battery production to 4 billion units by 2021.
The Indian government has been in talks with the country’s top energy and power utilities to ensure a viable supply of solar energy in the country.
India currently produces about half of its electricity from solar panels, but is yet to deploy the bulk of its installed solar capacity.