Adani Solar intends to increase its solar manufacturing by more than 2.5 times by 2027, from its existing capacity of 4 GWh to 10 GWh. This expansion is in line with the government's goal of reaching a total solar bandwidth of 500 GWh by 2038 and net-zero energy by 2070.
Moving forward, the solar PV manufacturing arm of Adani Group aims to have a presence across the value chain, such as modules, cells, ingots, wafers, polysilicon, and ancillaries such as EVA, back sheets, glass, aluminium frames, junction boxes, and trackers.
According to experts, lowering prices should be a top aim for indigenous producers if India wants to leap ahead of traditionally large solar players such as China and the United States.
The company's solar expansion plan was shared by Rahul Bhutani, Senior Head of Sales and Marketing, Adani Solar, at the ongoing Renewable Energy India Expo in Noida.
Bhutani said that the Group is looking to add more capacities to meet the growing demand from both industrial and individual customers.
Notably, solar energy generation in India has grown from 2.63 GW in March 2014 to 71.10 GW in July 2023.
Adani Solar is currently constructing the world's first completely integrated and comprehensive eco-system for 10 GW solar PV manufacturing in Mundra.
The Indian government is looking to support the domestic solar industry in a big way by extending support to solar panel manufacturers on basic customs duty (BCD) and its enhanced PLI scheme from Rs 4,500 crore to Rs 24,000 crore.
Analysts say this will help India to emerge as an exporter of solar panels and increase the quantum of investments and domestic production.
Adani Group, which started its manufacturing journey in 2016 with a 1.2 GW cell and module manufacturing capacity, has expanded its capacity more than threefold in the last six years.
In the Mundra Special Economic Zone, Adani has India's largest solar photovoltaic capacity for cells and modules, and Adani Solar has sold over 7 GW of modules since its inception, catering to both Indian and global demand.