Luminous Power to invest Rs 2,000-cr

Energy storage solutions company Luminous Power Technologies aims to double its growth in the next four years, and is looking at solar energy vertical as a major growth enabler, where it is investing substantially, CEO Preeti Bajaj said.

Luminous Power, now completely owned by French engineering company Schneider Electric, has plans to invest around Rs 2,000 crore in capacity expansion of its existing plants, a solar greenfield project, research and development (R&D), digitisation, brand building and channel engagements. The company sees solar as a “growing market” and reach an “inflection” point in the next 2-3 years in terms of cost, as demand for clean energy sources is going to rise, where Luminous Power aims to be a leading company in this transformation journey here, she said.