Ready, Set, Go: India’s Solar Manufacturing Ambitions Are Flying.
That is why even as the country chases a total nameplate module making capacity of almost 100 GW by 2026, the interesting addition is the 30 GW worth of polysilicon-making capacity, and an even higher share of ingot/wafer and cell-producing facilities by the same time. Those numbers easily place the country behind China in terms of projected capacities by 2026.
Bharat Bhut, Director and Co-Founder at Goldi Solar, is happy to share his own estimate on the table. “According to my analysis, there will be a demand for 50 GW or more per annum and numerous uncalculated and unpredicted demands in the current market landscape. We must only estimate the nature of these demands by calculating utility PPA, awarded contracts, and new tenders. However, when we consider all these factors and calculate the deployment rate year-on-year, we can observe a significant surge in demand over the next three years,” he said.
He also added, “I cannot foresee any decrease in demand in India, considering the widespread adoption of solar power across various sectors, such as the C&I segment and residential and farming pump sectors. The industry’s growth, the rising electricity demand, and expanding the manufacturing sector will lead to a higher demand for electricity. Moreover, more manufacturing companies will adopt renewable energy to lower production costs, boosting the demand for solar power.”
Goldi Solar has backed its conviction with money, going from a 500 MW nameplate capacity to 2.5 GW currently, with a further expansion to 6 GW module production and a fresh 5 GW of cell production capacity planned by 2025.
With the Power and MNRE Minister R.K. Singh asserting in Parliament recently that there is a pipeline of over 55 GW of renewable projects in place, you would imagine that those numbers will play catch up soon. Unfortunately, it hasn’t really happened.