By 2027, Adani Group hopes to have 10 GW of solar manufacturing capacity

 By 2027, Adani Group hopes to have 10 GW of solar manufacturing capacity

Indian solar energy production increased from 2.63 GW in March 2014 to 71.10 GW in July 2023, but the manufacturing environment lagged behind.

In an effort to seize the energy transition market, billionaire Gautam Adani's group plans to construct 10 GW of integrated solar manufacturing capacity by 2027, according to people close to the company. The Adani group now has a 4 GW capability for solar manufacturing.

According to them, Adani Solar has an export order book with confirmed commitments totaling more than 3,000 MW, which will be fulfilled over the course of the next 15 months. They also noted that Adani recently secured $394 million for solar manufacturing through a trade finance facility from Barclays PLC and Deutsche Banks AG.

India increased its production of solar energy from 2.63 GW in March 2014 to 71.10 GW in July 2023, while the manufacturing environment lagged behind.

The government employed both trade and non-trade barriers, including safeguard duties, an approved list of module manufacturers (ALMM), and a production-linked incentive (PLI) system, in order to effect change.

This provided the required push for private firms like the Adani group to increase their investments in the solar manufacturing sector, which helped Indian solar manufacturing.

Following the success of the group's listed renewable energy producing subsidiary, Adani Green Energy (AGEL), Adani Enterprises (AEL) made progress in 2015 in establishing and incubating solar PV manufacturing with Adani Solar.

Adani Solar started producing in 2016 with a 1.2 GW capacity for cell and module production.