Schneider Electric India is targeting Rs 70 crore sales by 2018-end from two new products that will help in energy saving up to 30 per cent in buildings, a top company official said.
Schneider Electric is a global leader in energy management and automation with a revenue of around 26 billion euro in the financial year 2016 and 1,40,000 employees in over 100 countries.
“India is a strategic market for us. We are launching today two products — Automatic Power Factor Corrector (APFC) panels and Automatic Harmonic Filter (AHF). The two products will help in energy saving up to 30 per cent compared to traditional solutions,” Schneider Electric India MD and Country President Anil Chaudhry told reporters here.
He said the company is expecting a sales of Rs 20 crore from these two products in the second half of 2017 and Rs 50 crore in 2018. APFC panel is available at an average rate of Rs 1.5 lakh and AHF for Rs 2.5 lakh.
Chaudhry said the company is committed towards making buildings in India ‘energy efficient’ through its new IoT- enabled technologies and solutions, which will help in saving cost and energy for all-size buildings such as offices, hospitals, airports, hotels etc.
“The solution will also be applicable to the residential segment, especially the home automation segment, the market for which is expected to be more than Rs 30,000 crore by 2022,” the company said.
Through its latest offerings, the company aims to tap the USD 30 million market for green buildings in India.
Schneider said that its products to promote green buildings come in the light of the Energy Conservation Building Code 2017 recently launched by the Ministry of Power, in association with Bureau of Energy Efficiency (BEE).
The code mandates the energy performance standards for new commercial buildings to be constructed across India.
“We are keen to support the government in achieving its energy efficiency vision for buildings. Globally, buildings contribute close to 40 per cent of CO2 emissions, which is mostly invisible but inspire us to formulate strategies to mitigate the harmful effects of climate change,” Chaudhry said.
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