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India to be Exporter of RE Technology, Solar Manufacturing Capacity to Achieve 100 GW by 2026

With an investment of INR 24,000 crore, the government is putting into place a production-linked incentive (PLI) scheme that would help establish 48 GW of solar equipment manufacturing capacity by 2026.

September 15, 2023. By EI News Network

Bhupinder Singh Bhalla, MNRE Secretary, highlighted that India will soon become a major exporter of renewable energy at an event hosted by the Confederation of Indian Industry (CII) in New Delhi.

As per the top official, India will become a major player in the global RE equipment supply chain and begin exporting once its solar manufacturing capacity achieves 100GW by 2026.

With an investment of INR 24,000 crore, the government is putting into place a production-linked incentive (PLI) scheme that would help establish 48 GW of solar equipment manufacturing capacity by 2026.

He said, India has 28GW of solar module manufacturing capacity and 6GW of solar cell manufacturing capacity at present.

According to Bhalla, "We still have a very large substantial capacity for exports. That is why India will become a key player in the global supply chain (of solar equipment).”

He said, "We need to add 30GW to 40GW of solar power capacity every year. We still have a very large substantial capacity for exports. That is why, India will become a key player in the global supply chain of solar equipment.”

By 2030, India aims to have 500GW of renewable energy capacity and to derive 50 percent of its electricity from non-fossil fuel sources like solar, wind, and green hydrogen.

Bhalla noted that India currently has a 15 GW capacity for producing wind energy (turbines).

Tags:

Renewable energy technology

Solar manufacturing capacity

Confederation of Indian Industry

RE equipment supply chain

Bhupinder Singh Bhalla

2026