Kinetic Group has entered into a joint venture with Belgium based Ikaros Solar Group, a leading international company operating in the photovoltaic (PV) market to provide customized solutions for business clients offering turnkey PV systems including the assurance of optimal yields once the system has been commissioned. The Shareholding pattern of the joint Venture is IKAROS, Beljium – 51%, Kinetic Group – 25% and Intelux India (A pune based company specialized in power electronics) holds 24%.
The JV company, Ikaros Kinetic Solar Private Ltd, will provide customized solutions to cater to low capacity solar PV installations of 20KWp to 1 MW focusing residential and commercial roof top instillations used in educational institutes, industrial sheds, shopping malls, hotels and resorts, godowns and hospitals. It will also cater to EPC requirements of utility scale PV projects from 1 MW and above for developers under National Solar Mission, state policies, large manufacturing facilities like Steel, Pharma, Automobiles, Textiles etc. and is also keen to develop solar farms under favorable tariffs.