Sunday Nov 10, 2024
FT
Sunday Nov 10, 2024
Thursday, 19 September 2024 00:02 - - {{hitsCtrl.values.hits}}
Renewable Energy Maldives Lanka Ltd. (REM), together with Fortune 500-listed Tongwei Co., Ltd. (TW Solar), are powering new horizons in Sri Lanka and the Maldives.
REM established operations in Maldives in 2007. Moving forward with successful operations for 17 years, REM inaugurated an office for the Sri Lanka market in 2016 and has been growing year-on-year for the past seven years. REM has successfully completed the installation of 22 Mw of rooftop solar systems in Sri Lanka and Maldives, with an average monthly installation of 550-600 Kw as of now.
Further, REM has now established 10 branches islandwide, being the largest branch network in the country to provide superior sales, after sales, and customer care. REM has a 24/7 after sales counter for urgent technical assistance. REM takes pride in offering affordable solar solutions with a dedicated and experienced workforce, with a separate workshop for technical matters.
TW Solar, controlled by the Tongwei Group, is a large-scale private technology-based listed company with the dual main businesses of agriculture and new energy at its core. The company now has over 200 branches and subsidiaries all over the country and overseas, with over 60,000 employees.
TW Solar, which is the world’s first PV company listed on the Fortune Global 500 listing, is one of the very few suppliers to offer the N-type Monofacial panel in Sri Lanka. All TW Solar panels come with a 15-year product warranty and 25-year performance warranty. Initially, TW will offer 590w N-type Monofacial panels in Sri Lanka.
TW Solar boasts an annual feed production capacity of more than 10 million tons, an annual production capacity of high-purity crystalline silicon of 650,000 tons, an annual production capacity of solar cells of more than 95GW, an annual module production capacity of 75GW, and a cumulative installed and grid-connected capacity of PV power stations based on “PV+fishery” of 4.07GW. Tongwei hopes that the cumulative production capacity of high-purity crystalline silicon and solar cells will reach 800,000-1 million tons and 130-150GW respectively from 2024 to 2026.
REM Solar and TW Solar are to collaborate on several key initiatives. Their partnership will focus on developing cutting-edge solar technologies and integrating their products to offer comprehensive solutions. By combining their expertise, they would expand their market reach, enter new regions, and leverage each other’s distribution networks. Joint research efforts will aim to enhance solar efficiency and reduce costs, while sustainability initiatives could address environmental impacts. Additionally, they will work together on sales and marketing strategies to strengthen their presence in the solar industry.
