AISMA Announces Historic Milestone of 60 GW Installed Solar Module Manufacturing Capacity

National November 15, 2023: The All India Solar Manufacturers Association (AISMA) today announced a historic milestonefor the industry – an annualinstalled capacity of 60 GW of high- end solar module manufacturing. This marks a significant increase in capacity over the last few years, from less than 10 GW of low-wattage Polysilicon modules in FY 20-21, to the current 60 GW of high-wattage and technologically advanced Mono Perc, Topcon and HJT modules.

In line with a targetto achieve Net Zero by 2070, India aims to build 500 GW of renewable energy capacity by 2030, with solar energyexpected to contribute to 300 GW of this capacity. With solar power installations in the countrygrowing at 30% per annum,India is uniquelyplaced to become a supplier of choice across the globe. High-quality Indian-manufactured solar modules have become sought after across global markets such as North America and Europe. In 2023 alone, Indian solar manufacturers have exported 3900 MW of solar modules – with the potential to expand this to 30 GW per annum,earning 7-8 billion USD in foreign exchange, and reversing the trend of heavy reliance on fossil fuel imports.

Measures taken by the Government of India and the Ministry of New and Renewable Energy (MNRE) have significantly bolstered the Indiansolar manufacturing sector.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 securitywhile 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, capacity of selected 27 module manufactures is as under which is 50 GW.

Apart from above in current FY Reliance and Tata are expected to add 9 GW module manufacturing capacity, other players are expected to add 3 GW which will make country ‘s module manufacturing capacity 72 GW end of current FY.

Commenting on the milestone, Mr. 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 cleanenergy transition, and India’s growingleadership in the space will enable the country to play a predominant role in the global renewable energy market.”