India to reach 95GW of solar module manufacturing capacity by 2025: Report

New Delhi, Jan 31 (KNN) India's solar module manufacturing capacity that touched 39 GW at the end of September 2022, is expected to reach approximately 95 GW by the end of the calendar year (CY) 2025, according to a latest report.

According to Mercom Capital’s report titled 'State of Solar PV Manufacturing in India', Indian PV (photovoltaic) manufacturers are strategically poised to expand their production capacities and adopt new technologies in the coming years on the back of government incentive programmes.

States are promoting domestic solar manufacturing through fiscal and non-fiscal incentives under industrial, electronics, and solar policies, it added.

The Indian government in September 2022 had approved the Rs 19,500-crore production linked incentive (PLI) scheme on 'national programme on high efficiency solar PV modules' with an aim to attract Rs 94,000 crore investment in the sector.

"The PLI programme is an added push to enhance vertical integration of new capacity additions and technology used. With an estimated 220 GW of solar capacity required by the end of the decade, India needs significant manufacturing capacity ramp up," Priyadarshini Sanjay, Managing Director of Mercom India said.

The US-based Mercom Capital Group is a clean energy research and communications firm with expertise in cleantech markets.  (KNN Bureau)