New Delhi, September 2, 2024 – Finolex Cables, a leading player in the wire and cables industry, is proud to announce the launch of its new range of E-Beam irradiated LT XLPE Solar Cables, providing exceptional UV and ozone protection. Manufactured in-house at Finolex’s new state-of-the-art E-Beam facility in Pune, these solar cables leverage advanced electron beam technology. This investment in the E-Beam facility is part of a broader Rs 500 crore capex plan announced earlier that included expanding manufacturing capabilities, adopting advanced technologies, and enhancing supply chain infrastructure.
Designed to withstand extreme operating conditions, these innovative solar cables are capable of handling temperatures up to 120°C, with higher current ratings and superior durability making them ideal for demanding industrial applications and large-scale solar installations. Additionally, these cables are environmentally friendly and halogen-free, reducing the release of toxic gases in the event of a fire.
Compared to traditional chemical curing methods, E-Beam technology significantly improves the insulating properties of the cables, allowing them to sustain higher voltages with lower radial thickness and extending their life expectancy to over 25 years. This technology is now operational in-house which will be used for various upcoming products.
“As India accelerates its shift to renewable energy, Finolex Cables is strategically positioned to support the nation’s ambitious goals with our durable and high-capacity solar cables. The government’s target to expand renewable energy capacity to 500GW, including 270GW from solar power, has greatly increased the demand for top-quality and efficient solar cables. With solar power now contributing 18% to India’s total power generation in 2024 and expected to grow further, our solar cables are designed to adapt to the market’s evolving needs. As utilities face growing requirements under the Renewable Purchase Obligation (RPO) to integrate renewable energy, the demand for specialized solar cables is set to rise, making Finolex a crucial partner in India’s renewable energy transition,” stated Mr. Amit Mathur, President – Sales and Marketing at Finolex Cables. He further noted, “At Finolex, we aim to capture approximately 15% of the market over the next two years. We anticipate securing over 70% of this from the retail market by leveraging our extensive network of 200,000 retailers, 5,000 channel partners, and more than 750 distributors.”
Further, with the launch of solar cables to its portfolio, Finolex Cables is also committed to supporting government initiatives such as the Rooftop Solar Yojana (PM SURYAGHAR), which aims to solarize one crore households with an allocation of over INR 75,000 crore. This initiative provides up to 300 units of free electricity per month for solar rooftop systems up to 3 kW capacity, along with easy and affordable loans.