Indian solar manufacturer Rayzon Solar has announced plans to set up a 500MW solar module factory in the US and expand its existing Indian production capacity by a further 1GW.
India added 12.8GW of solar PV in the FY2023, an 8% decrease year-on-year according to JMK Research. 2022 saw the country experience significant module shortages as it strains to build out its domestic manufacturing profile and lessen its dependence on imports from the east.
Allegations of fraud at Indian conglomerate Adani Group, which have knocked around US$125 billion off its market value since January, are unlikely to cause any perceptible damage to India’s long-term solar growth, according to two prominent members of the industry.
The Indian governemnt has granted approvals for just under 5GW of solar PV projects to be deployed in the Bundelkhand region of Uttar Pradesh, in the north of the country
Clean energy researcher Bridge To India has released its “Solar Map 2022” report, displaying the state of the Indian solar market as of December last year. The infographic report shows that state-by-state solar deployments continued to be inconsistent and that domestic module and cell supply accounted for far less capacity than imports, though overall installments still remain impressive.
The Commercial and Industrial (C&I) renewables market in India is expected to grow by 47GW over the next five years, as policy tailwinds and decarbonisation targets spur growth.
