India Plans 33 GW Wafer-Ingot Capacity by FY30 Amid Solar Manufacturing Expansion
India aims to increase its wafer-ingot manufacturing capacity to 24-33 GW by FY30, backed by significant investments in solar production. The country’s installed solar capacity is projected to reach nearly 290 GW by FY30, reflecting a substantial shift in its energy landscape.
Theia Market Signal Identification - AI Assisted
India's wafer-ingot manufacturing capacity is set to grow to between 24 and 33 GW by FY30, driven by a surge in investments in solar production. Installed solar power capacity has escalated from 34.6 GW in FY20 to an anticipated 290 GW by FY30, with solar accounting for 28% of total installed capacity.
The domestic cell manufacturing sector currently fulfills only 25-30% of demand, necessitating imports mainly from China. Major companies, including Waaree Energies and Tata Power Renewable Energy, are planning substantial investments in wafer-ingot production.
Government initiatives like the Production-Linked Incentive scheme are fostering this growth. The overall solar manufacturing expansion is expected to need over Rs 80,000 crore in capital expenditure by FY30.
Comments