India added 11.3 GW of solar modules, 2 GW of cell capacity in 1H 2024
POWER & RENEWABLE ENERGY

India added 11.3 GW of solar modules, 2 GW of cell capacity in 1H 2024

In the first half of 2024, India added 11.3 gigawatts (GW) of solar modules and 2 GW of solar cell capacity, as reported in the Mercom India research report titled “State of Solar PV Manufacturing in India 1H 2024.” The report highlighted that these manufacturing capacity additions were driven by strong demand, with solar project pipelines projected to total 132.7 GW between 2024 and 2026. Additionally, the reimposition of the Approved List of Models and Manufacturers (ALMM) order in April 2024 contributed to this growth.

By June 2024, India's cumulative solar module manufacturing capacity reached 77.2 GW, while solar cell manufacturing capacity totaled 7.6 GW. Approximately 51 GW of module capacity across various technologies had received ALMM certification by the end of June 2024. The report indicated that the top 10 manufacturers accounted for nearly 58 percent of module production and 100 percent of cell production capacity.

Looking ahead, India's solar module manufacturing capacity is expected to reach 172 GW and cell capacity nearly 80 GW by 2026. Raj Prabhu, CEO of Mercom Capital Group, noted that despite significant capacity additions, the supply of domestically produced modules remains constrained because cell production has not increased accordingly. He expressed concern that many projects could experience delays due to domestic content supply shortages without a rapid increase in cell capacity. Furthermore, he stated that average module prices are likely to stay high until supply and demand stabilize. As trade restrictions tighten, manufacturers' reliance on exports for long-term growth is increasingly seen as risky. Gujarat emerged as the leading state for solar photovoltaic component manufacturing, housing about 45 percent of solar modules and 52 percent of solar cell capacity in the country by June 2024.

In the first half of 2024, India added 11.3 gigawatts (GW) of solar modules and 2 GW of solar cell capacity, as reported in the Mercom India research report titled “State of Solar PV Manufacturing in India 1H 2024.” The report highlighted that these manufacturing capacity additions were driven by strong demand, with solar project pipelines projected to total 132.7 GW between 2024 and 2026. Additionally, the reimposition of the Approved List of Models and Manufacturers (ALMM) order in April 2024 contributed to this growth. By June 2024, India's cumulative solar module manufacturing capacity reached 77.2 GW, while solar cell manufacturing capacity totaled 7.6 GW. Approximately 51 GW of module capacity across various technologies had received ALMM certification by the end of June 2024. The report indicated that the top 10 manufacturers accounted for nearly 58 percent of module production and 100 percent of cell production capacity. Looking ahead, India's solar module manufacturing capacity is expected to reach 172 GW and cell capacity nearly 80 GW by 2026. Raj Prabhu, CEO of Mercom Capital Group, noted that despite significant capacity additions, the supply of domestically produced modules remains constrained because cell production has not increased accordingly. He expressed concern that many projects could experience delays due to domestic content supply shortages without a rapid increase in cell capacity. Furthermore, he stated that average module prices are likely to stay high until supply and demand stabilize. As trade restrictions tighten, manufacturers' reliance on exports for long-term growth is increasingly seen as risky. Gujarat emerged as the leading state for solar photovoltaic component manufacturing, housing about 45 percent of solar modules and 52 percent of solar cell capacity in the country by June 2024.

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000