Tiger Logistics' Renewable Energy Vertical 'TiGreen' Powers Ahead in Solar Logistics

Tiger Logistics, a leading global provider of logistics solutions, is pleased to announce that TiGreen, its renewable energy vertical, has gained significant momentum in the solar industry within a year of its announcement in March 2024. The renewable energy vertical has experienced exponential growth, with a monthly volume reaching 1,500 TEUs on an ongoing basis, up from 300 TEUs in November 2024 from the solar industry, marking a significant uptick in Tiger Logistics' renewable energy portfolio.

The acceleration is directly linked to India's burgeoning solar energy market and its emergence as a global manufacturing and export hub. Tiger Logistics has also witnessed a staggering increase in its import business, driven by the rising demand for solar modules from China, with supplies increasing since FY22 to around 97% of polysilicon and 80% of solar modules globally in FY24. This growth trajectory positions TiGreen on track to generate an estimated additional ₹100-₹150 crores annually from its renewable energy logistics. The company projects a multi-fold growth in volume, aiming for up to 3,500 TEUs per month over the next 3-6 months.

To lead the vertical, Mr. Aditya Shankar, Head - TiGreen, a leader in renewable energy supply chain withover 20 years of experience in logistics has joined the vertical. The company also plans to further expand its export operations to the U.S. market which contributes to 97% of India's solar exports, further solidifying its position as a key player in the global supply chain of solar modules.

India's solar photovoltaic (PV) exports have surged 23-fold, reaching $2 billion between FY22 and FY24. With the growing interest in India as a viable alternative for the China Plus One Strategy, coupled with India's ambitious goal of installing 500 GW of renewable energy capacity by 2030, the global trade in solar panels is set to experience exponential growth over the next 2-3 years.

Mr. Harpreet Singh Malhotra, CMD of Tiger Logistics (India) Limited, said "India's commitment to renewable energy and its potential as a solar manufacturing and export hub is truly promising. This growth presents a significant opportunity for Tiger Logistics to bolster our presence in the sector. With TiGreen, we aim to further scale our operations and contribute to India's sustainable future. We are committed to providing efficient and reliable logistics solutions in the renewable energy space."

Mr. Aditya Shankar, Head, TiGreen said "TiGreen is uniquely positioned to capture a significant marketshare in the industry by addressing the complexities of solar supply chains with a dedicated and strategic approach. At TiGreen, we bring seamlessness to the market, ensuring efficient, reliable, and sustainable international logistics solutions that empower the renewable energy sector."

Source : Equity Bulls

Keywords

TigerLogistics TiGreen RenewableEnergy SolarLogistics