In an announcement issued on Sunday, MNRE stated it has solely shared the present standing of home photo voltaic manufacturing capability with the division of monetary companies and main renewable-energy lenders similar to Energy Finance Company, REC and Indian Renewable Power Improvement Company. The intent, it stated, is to assist establishments take a “calibrated, well-informed” strategy whereas evaluating investments throughout the photo voltaic worth chain. It added that India has already met 50% of its put in electrical energy capability from non-fossil gas sources, reaching the goal 5 years forward of its Nationally Decided Contributions beneath the Paris Settlement. As of October 31, the nation’s non-fossil gas capability stands at 259 GW, with 31.2 GW added within the present monetary 12 months.The ministry emphasised that financing mustn’t stay restricted to module manufacturing, but additionally increase to upstream segments similar to cells, ingots, wafers and polysilicon, together with ancillaries like photo voltaic glass and aluminum frames.The federal government reiterated its dedication to creating India self-reliant in photo voltaic PV manufacturing and strengthening its place within the world worth chain. Supported by schemes such because the PLI for high-efficiency modules, India’s module manufacturing capability has jumped from 2.3 GW in 2014 to 122 GW listed on the ALMM.MNRE stated it would proceed coverage help, infrastructure growth and stakeholder engagement to make sure India’s photo voltaic sector stays “inclusive, aggressive and future-ready.”
