Intertek acquires Indian solar lab assets from Mitsui

(Sharecast News) - Intertek announced on Thursday that it has strengthened its position in the solar assurance market with the acquisition of solar photovoltaic laboratory assets from Mitsui Chemicals India, expanding its footprint in the fast-growing Indian renewable energy sector. The FTSE 100 assurance provider said it had acquired a "state-of-the-art" solar PV laboratory in Ahmedabad, Gujarat, which will deliver ISO 17025 accredited testing services for solar installations, materials and components.

It said the facility also offers Bureau of Indian Standards and IECEE CB Scheme accreditations, supporting both domestic manufacturers and international companies seeking market access in India.

Intertek said the deal came amid rising demand for independent quality assurance services, driven by the rapid expansion of solar energy.

India had committed to reaching 500GW of non-fossil fuel power capacity by 2030, including 280GW of solar, positioning the country as a key growth market for photovoltaic testing and certification.

The group said the acquisition was highly complementary to its existing risk-based quality assurance offering and would enhance its presence in the Western India corridor.

It would also build on Intertek CEA's end-to-end solar capabilities, including aerial drone and plant inspection services for manufacturers and developers.

"Solar is a major driver of the energy transition and India is one of the world's leading solar energy producers, making it a highly attractive market for our industry-leading ATIC solutions," said chief executive André Lacroix.

"We look forward to seizing the exciting opportunities to accelerate growth and contribute long-term to India's electrification journey."

At 0956 BST, shares in Intertek Group were up 0.55% at 4,387p.

Reporting by Josh White for Sharecast.com.

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