New Delhi: As “Make in India” initiative of the government completed 10 years, Minister for New and Renewable Energy Pralhad Joshi said that the government is committed to establishing India as a “major global player” in the complete value chain of clean energy solutions. In a post on X, formerly known as Twitter, Joshi lauded the contribution of India’s renewable energy sector towards Make in India. “India’s renewable energy sector has contributed immensely to the #10YearsOfMakeInIndia. From PLI to VGF, we are extending all possible support to our domestic industries. We are committed to establishing India as a major global player in the complete value chain of clean energy solutions,” said the minister on X.
“One of the key focuses of the Government is to support and incentivise domestic manufacturing in the renewable energy sector. The renewable energy equipment manufacturing sector in India is well-positioned to meet domestic demand and serve the global market through exports, establishing India as a key player in the renewable energy manufacturing space,” said the Ministry of New and Renewable Energy (MNRE) in a statement on Wednesday.
“Several measures have been taken by the Government to promote the domestic manufacturing of renewable energy equipment, such as solar PV modules, cells, and upstream components like ingots, wafers, and polysilicon. These efforts also include the manufacturing of wind turbines, electrolysers for green hydrogen production, and battery energy storage systems for utility-scale electricity storage applications,” said the MNRE.
“The government’s efforts span financial, fiscal, and policy measures aimed at bolstering domestic production. Financial incentives include the Production Linked Incentive (PLI) scheme for setting up fully or partially integrated manufacturing units for solar PV modules and upstream components. Additional support measures include Viability Gap Funding (VGF) for stationary Battery Energy Storage System projects and incentives for manufacturing electrolysers and green hydrogen production under the National Green Hydrogen Mission,” the statement added.
“Solar PV manufacturing remains a significant focus of the Government’s efforts. The Government is committed to making India self-reliant (Atmanirbhar) in solar PV manufacturing and establishing India as a major player in the global value chain. This commitment is demonstrated by the Rs. 24,000 crores outlay for the PLI Scheme for High-Efficiency Solar PV Modules and additional policy interventions, such as the imposition of basic customs duties and domestic content requirements,” said the MNRE.
Since 2014, India’s installed solar PV module manufacturing capacity has grown from 2.3 GW to approximately 67 GW. This increase makes India capable of meeting domestic demand and catering to exports. The country has seen rapid growth in solar PV module production capacity, jumping from 8 GW in 2021 to 67 GW per year in the last 3.5 years alone, said the MNRE.
Further, over 48 GW of fully or partially integrated solar PV module manufacturing projects are currently under implementation under the solar PLI scheme. “With the solar PLI scheme and the Government’s supportive policy framework, India is projected to achieve 100 GW per year of solar module production capacity by 2026, which will not only satisfy domestic demand but also contribute to earning foreign exchange through exports,” the ministry said.
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