Webel-SL Energy to Start Second Solar Panel Plant

By SANTANU CHOUDHURY

NEW DELHI -- Webel-SL Energy Systems Ltd. Friday said it is investing around 1.8 billion rupees ($35.7 million) to build a second factory in eastern India to manufacture solar photovoltaic cells as it seeks to tap into rising global demand for clean energy.
"It (the new factory) will be operational within a month," Ambarish Bangur, Webel-SL marketing manager, told Dow Jones Newswires by telephone from Kolkata, where the company is based.
The new plant is being constructed on the outskirts of Kolkata and will increase Webel-SL's annual manufacturing capacity to 42 MW from the current 12 MW, Mr. Bangur said.
Webel-SL now generates about 95% of its total sales from exports to the U.S., Europe and Australia, he said, adding: "We get only 3% to 5% of our sales from India."
But he said also that the company is witnessing rising local demand, helped by an increasing focus on renewable energy in the country.
On news that China plans to subsidize up to 50% of the installation cost of rooftop solar panels, Bangur said that "China is a big potential market," but the company has no plan to set up a factory there.
"Our products are 10%-15% cheaper than those made in Europe," he said. "If there is demand, we can compete with other companies in China by exporting from India."
Write to Santanu Choudhury at santanu.choudhury@dowjones.com