Eureka Forbes to market solar-powered products
28 Jan 2012
The $2.5-billion Shapoorji Pallonji (SP) group plans to market solar energy products under its EuroDiya brand, both in urban and rural areas of the country.
The products will be marketed by group company Eureka Forbes, one of the largest direct selling companies, which has been selling water purifiers and vacuum cleaners in India for several years.
''We expect solar energy products to contribute five to seven per cent of our business in three years,'' said A V Suresh, president, international operations, Eureka Forbes. ''They are designed for rural areas, which suffer frequent power cuts as well as urban areas.''
Eureka Forbes, which was established as a joint venture between the Forbes group and Electrolux of Sweden, has a turnover of $250 million. It has launched the EuroDiya brand to market solar-powered products; the first in the range would be solar lamps.
Besides being launched in India, the company plans to market the products in other parts of South East Asia, the Middle East and Africa. EuroDiya solar lamps will be provide an alternative source of lighting in areas suffering power cuts. The company will sell the product along with its water filters and also plans to tie-up with NGOs and local entrepreneurs in rural areas.
According to Suresh, about 1.6 billion people live in darkness around the world. The company has tied up with US company Nokero (short for no kerosene) for the sale of solar lamps; the American firm also manufactures power panels and solar chargers for mobile phones and batteries. The EuroDiya is being sold in India by Eureka Forbes for about Rs600.
