India is poised to play a pivotal role in the global renewable energy equipment supply chain, positioning itself as a major exporter. This shift is underpinned by ambitious plans to increase its solar manufacturing capacity to 100GW by 2026, primarily driven by the government’s Production Linked Incentive (PLI) scheme, which has a budget of ₹24,000 crore. This initiative is expected to facilitate the establishment of 48GW of solar equipment manufacturing capacity within the specified timeframe.
India already boasts a substantial 28GW of solar module manufacturing capacity and 6GW of solar cell manufacturing capacity. With the implementation of the PLI scheme for solar, the country is on track to achieve an impressive 100GW solar module manufacturing capacity.
As reported by ETEnergyworld.com, these efforts are aligned with India’s ambitious goal of reaching 500GW of renewable energy capacity by 2030, with the aim of deriving 50 percent of its electricity from non-fossil fuel sources such as solar, wind energy, and green hydrogen. It’s noteworthy that India currently ranks fourth globally in terms of its renewable energy capacity.
