Two state-owned companies in India, Bharat Electronics (BEL) and National Hydropower Corporation (NHPC), have signed a memorandum of understanding to build a super-gigawatt solar manufacturing base in India.
The two companies did not disclose information related to the technology used or the time of commissioning, the only information given was that the base would be a "vertically integrated solar manufacturing unit."
In January, India's national hydropower company NHCP and the Green Energy Development Corporation of Odisha Ltd formed a joint venture to develop a 500MW floating PV project in the east of Odisha.
The state-run power company currently has more than 2.5GW of solar PV projects in various tender stages across India, several of which involve floating PV.
Coincidentally, in July this year, Indian energy giant Tata Power also signed a memorandum of understanding with the government of Tamil Nadu, India. Tata Power will invest about 3 billion Indian rupees to build a 4GW battery and 4GW module in the state. factory.
The factory in the Tirunelveli district of Tamil Nadu will be built in 16 months on a greenfield development site.
It is said that by the end of 2023, India will add 18GW of capacity and double its solar module capacity.
However, this expectation may be faster. Last week, the Ministry of New and Renewable Energy of India updated the ALMM List (Approved List of Component Manufacturers) of domestic manufacturers in India. There are 66 companies on the latest list, including eight new module manufacturers, with a cumulative capacity of 3,976MW. Currently, India's overall planned capacity has risen to just over 18GW.
Since 2020, India has been facing a 38% increase in PV module prices. In addition to the increase due to raw material prices, the price increase has been affected to a certain extent by the Basic Tariff (BCD) that will be implemented from April 1, 2022.
There are various indications that India is indeed increasing its efforts in the manufacture of local photovoltaic products, in order to avoid soaring prices, project suspension, and bottlenecks caused by supply problems such as materials and components.
