India has manufacturing capacities of 28 GW of solar module, 6 GW of solar cell and 15 GW of wind energy (turbine).
New and renewable energy secretary Bhupinder Singh Bhalla on Thursday said that India aims to have about 100 giga watt (GW) solar PV module manufacturing capacity by 2026 and will be a major exporter by then.
“We aim to create India as a leading global supplier of renewable energy equipment,” Bhalla said a conference on clean energy organized by industry body CII and the Ministry of New and Renewable Energy (MNRE).
India has manufacturing capacities of 28 GW of solar module, 6 GW of solar cell and 15 GW of wind energy (turbine). With help from Rs 24,000 crore PLI scheme, 48 GW new manufacturing capacity is expected in next three years, he said.
“We expect to have 100 GW module capacity by 2026 and our requirement is 30-40 GW. So, we will have the capacity to export 60 GW or more by 2026,” Bhalla said on the sidelines of the event.
It may be noted that India’s solar module imports from China has declined from 9.8 GW in the first half of 2022 to 2.3 GW during the corresponding period in 2023, according to a report by energy think tank Ember.
India had levied a customs duty of 40% on solar modules and 25% on solar cells from April 2022 to restrict imports and encourage domestic manufacturing. However, the 76% cut in Chinese imports is not the same as 76% fall in imports.
Suggesting that India is poised to become a global leader in energy transition, Bhalla said, “India has attracted about $78 billion in investment, including over $10 billion in foreign direct investment, reflecting the global confidence in India’s vision and capacities.”
India, which has world’s fourth largest RE capacity at 178 GW, has set a target of achieving 500 GW by 2030. The country aims to have 50% of its power generation capacity from non-fossil fuel sources like solar, wind energy and green hydrogen.
Source:indianexpress.com