India is expected to add 13.75GW of PV modules and 6.9GW of battery capacity over the next three years, according to Indian consultancy JMK Research & Analytics.
According to reports, India has a module capacity of 16GW and a battery capacity of 4GW.
1GW+ module makers including Waaree Energies Ltd, Adani Solar, Premier Energies and Vikram Solar Ltd, among others, have proposed adding 9GW of module capacity and 6.4GW of cell capacity, the consultancy said.
In June 2021, 1366 Technologies of the United States announced plans to build a 2 GW silicon wafer and battery manufacturing plant in India. In December 2021, Tata Group said it planned to build a 4GW high-efficiency battery plant for US$403 million.
In October 2021, Reliance New Energy Solar, a wholly-owned subsidiary of Reliance Industries, acquired REC Solar Holdings of China Bluestar Group for US$771 million, and obtained related heterojunction technology patents. The acquisition will be used to support Reliance in Jamnagar, Gujarat, India. Module manufacturing plans for the plant, which initially had an annual capacity of 4GW, which is expected to increase to 10GW per year.
Vikram Solar intends to build a 3GW factory in Tamil Nadu in four to five years for PV modules, cells and wafers.
In 2021, Tata Power Solar will increase its cell capacity from 300MW to 530MW and module capacity from 400MW to 580MW; Premier Energies will increase its module capacity from 500MW to 1.25GW and add 750MW of battery cells.
As the third largest photovoltaic market in the world, India's newly installed photovoltaic capacity in 2021 will reach 10GW. According to JMK's expectations, India's newly installed capacity is forecast to be between 15-20GW in 2022, and India will set a new record for annual installed capacity.
Indian photovoltaic equipment has always been heavily dependent on imports. Therefore, the government has issued a series of policies to support domestic photovoltaic manufacturing capacity, including implementing production-related incentive plans and setting up trade barriers.
From April 2022, India will impose a Basic Duty (BCD) on imported photovoltaic cells and modules, and the country will also introduce a Production-Related Incentive (PLI) scheme for new manufacturing facilities, with a commitment of INR 45 billion (6.06 crore) over five years. $507 million/€507 million) to support the establishment of a 10GW integrated PV manufacturing plant.
