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PV manufacturing capital expenditure is expected to rebound this year, following two years in the doldrums as the industry weathered a global oversupply of modules, new figures show.

After a sharp decline in 2023, PV manufacturing capital expenditure is set to bounce back this year, and not just in China, writes Moustafa Ramadan.

Sangam Solar One, a subsidiary of Indian solar PV manufacturer Waaree Energies, has commissioned a 3GW PV module manufacturing facility in Samakhiali, Kutch, Gujarat.

According to Ember, solar-plus-storage could supply up to 90% of India’s electricity demand at a levelised cost of electricity (LCOE) of INR5.06/kWh (US$56/MWh).

Indian independent power producer (IPP) Inox Clean Energy has acquired the Macquarie-owned Vibrant Energy, which operates a 1,337MW commercial and industrial-focused renewables portfolio across India.

NTPC Renewable Energy has commenced commercial operations at two plants totalling 168.02MW in Khavda, Gujarat. 

Indian renewable energy major Adani Green Energy has operationalised 951MW of renewable energy capacity across projects in Rajasthan and Gujarat.

Indian solar manufacturer Premier Energies has commissioned a 5.6GW solar module manufacturing facility in Seetharampur, Telangana.

India has installed 9.56GW of rooftop solar capacity under the PM Surya Ghar Muft Bijli Yojana (PMSGMBY), according to government data presented in Parliament. 

Indian solar PV manufacturer Waaree Energies is developing a INR39 billion (US$415 million) solar glass manufacturing facility in India.