Having undertaken strategic investments across growth verticals, Luminous Power Technologies, India’s leading energy storage solutions company Luminous Power Technologies is aiming to double its growth in next 4 years. The company is planning to invest around Rs 2000 Cr in capacity expansion, new solar Greenfield projects, R&D, digitization, brand building and channel partner engagement to accelerate towards the ambitious growth targets.
With over 35 years of expertise in creating innovative and technology driven products, Luminous is one of the most trusted and reliable brands in India. While Luminous is the industry leader in India in the home inverter battery segment, it is also planning for strategic expansion in international markets. With a growing market presence in over 40 countries, Luminous is also planning to expand to new markets like South Africa, Nigeria, Kenya and Ghana. The company expects international business to contribute 25% in the next 3 years.
With the rising per capita income and increasing power consumption due to multiple appliances in urban households we are also the demand is shifting towards higher capacity inverters & batteries and residential Solar adoption.
For the organization, the growth engines to increase market capitalization include a stronger focus on solar products. Solar is important towards sustainable and profitable growth. Luminous’ solar products vertical is playing a critical role in India’s energy transition. The company has already invested on a second plant and the first green energy-based solar panel manufacturing facility in Uttarakhand. Planned on 10 acres, the state-of-the-art facility in Rudrapur will have a 500 MW to 1 GW (expandable) solar production capacity.
Luminous is also planning to boost its battery production capacity by opening a new battery Greenfield plant by 2026-2027 in Angul, Odisha. Luminous is also strengthening operation and enhancing its capacity in its existing plants in Hosur (Tamil Nadu) and Haridwar (Uttarakhand).
While Luminous was the first company to launch lithium ion in the inverter battery segment, it is investing in R&D to develop future-ready technologies and innovations. It is constantly undertaking product innovation in high-capacity inverters and alternate chemistries for new battery-types, in addition to evolving eco-friendly and sustainable Li-ion battery solutions. To make the brand available and accessible for consumers across India, Luminous is also entering into multi-channel strategy with new retail formats, modern trade, and e-commerce.
