Adani plans to develop 10 GW solar manufacturing capacity by 2027

3 Oct 2023 , 11:50 AM

According to sources, billionaire Gautam Adani’s group plans to create 10 GW of integrated solar manufacturing capacity by 2027 in order to grab the energy transition business. Adani Group currently has 4 GW of solar manufacturing capacity.

Adani Solar has a confirmed order book of over 3,000 MW in exports that will be serviced over the next 15 months, they said, adding that Adani recently received USD 394 million for solar manufacturing through a trade finance arrangement from Barclays PLC and Deutsche Banks AG.

While India’s solar energy generation increased from 2.63 GW in March 2014 to 71.10 GW in July 2023, the manufacturing ecosystem failed not keep up.

The government used both trade and non-trade barriers to force change, such as a safeguard tariff, an approved list of module manufacturers (ALMM), and a production-linked incentive (PLI) plan.

This provides the necessary impetus for private companies like the Adani group to extend their investments in India’s solar manufacturing sector.

Adani Enterprises (AEL) made progress in 2015 in lining up and incubating solar PV production with Adani Solar, following the success of Adani Green Energy Limited (AGEL), the group’s listed renewable energy producing company.

Adani Solar began manufacturing in 2016, with a 1.2 GW cell and module capacity. Adani Solar increased its manufacturing capacity more than threefold in less than six years, to 4 GW module and 4 GW cell capacity today, making it one of the fastest-growing (in terms of capacity expansion) solar manufacturing firms.

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