New Delhi, Nov 9 (PTI) India has achieved a milestone of 60 gigawatt (GW) of installed solar module manufacturing capacity, industry body All India Solar Manufacturers Association (AISMA) said on Thursday.
From less than 10 GW of low-wattage polysilicon modules making capacity in financial year 2020-21, India has scaled it up ito the current 60 GW of high-wattage and technologically advanced Mono Perc, Topcon and HJT modules manufacturing capacity, AISMA said in a statement.
Hitesh Doshi, President, AISMA, said: "This is indeed a phenomenal achievement for the Indian solar manufacturing sector. Solar energy adoption is a critical component of the clean energy transition, and India's growing leadership in the space will enable the country to play a predominant role in the global renewable energy market." In line with a target to achieve net zero carbon emission by 2070, India aims to build 500 GW of renewable energy capacity by 2030, with solar energy expected to contribute to 300 GW of this capacity even as solar power installations in the country is growing at 30 per cent per annum.
High-quality India-manufactured solar modules have gained demand across global markets such as North America and Europe. In 2023 alone, Indian solar manufacturers have exported 3,900 MW of solar modules – with the potential to expand this to 30 GW per annum, earning USD 7-8 billion in foreign exchange, and reversing the trend of heavy reliance on fossil fuel imports.
Government-led measures like the Production Linked Incentive (PLI) has ensured that the country will add an additional 40 GW of module manufacturing capacity by the end of FY 24-25. This addition also strategically prioritizes backward integration, aiding energy security while ensuring a reliable supply chain for domestic solar installation, pegged upwards of 30 GW per annum.
There are over 100 solar module manufactures in country and capacity of selected 27 module manufactures is 50 GW. PTI ABI HVA