SEAF Solar Tech Company Opens New Factory, furthering its dominance as an industry leader

SEAF India Agribusiness’ company, SOLARIC, has opened a new factory in Dhaka, which will almost double its production output while providing jobs to an additional 150 Bangladeshi.

Dhaka, Bangladesh – Solaric, one of SEAF Bangladesh Ventures portfolio companies, was recently featured in the Daily Star, a popular English newspaper in Bangladesh, for opening a new factory in the heart of Dhaka, Bangladesh. The US Ambassador Dan Mozena was the Chief Guest, and the Country Head of IFC, Kyle Kelhofer was the Special Guest at the event. The new factory will produce solar optimizers, an essential component of the solar home systems (SHSs), which are small systems designed to meet the electricity demand of a single household.[1]

The SHS industry has rapidly expanded in recent years due to its low cost, high efficiency in bringing electricity to rural poor all over the globe. Through its expansion, Solaric “is set to expand its operation in a bid to grab the country’s growing solar energy market,” according to the Daily Star.

Solar Home Systems (SHSs)

In a World Bank study, SHSs were reported as not only being not cost-efficient, consistent energy source in comparison to normal electric inputs, such as under/aboveground ground cables, but also as a technology that “improves children’s evening study time, lowers kerosene consumption, and provides health benefits for household members, in particular for women.”[2]

According to the Daily Star, “The [new solar optimizer] converts 12 volts into 125 volts, the utility level voltage, allowing consumers to use laptops, TVs, fans, light bulbs and most importantly, charge their mobile phones — a simple task that was not possible with the earlier versions of the system.”

 

For the full article featured in the Daily Star, click here.

For the full press release, please click here.

For more information on Solaric, please visit their website at www.solar-ic.com/.

 

Footnote:

[1] Vervaart, M.R.; Nieuwenhout, F.D.J.. 2001. Solar home systems. Washington, DC: World Bank. http://documents.worldbank.org/curated/en/2001/01/6394415/solar-home-systems

[2] Samad, Hussain A.; Khandker, Shahidur R.; Asaduzzaman, M.; Yunus, Mohammad. 2013. The benefits of solar home systems :an analysis from Bangladesh. Policy Research working paper ; no. WPS 6724. Washington, DC: World Bank Group. http://documents.worldbank.org/curated/en/2013/11/18640651/benefits-solar-home-systems-analysis-bangladesh