Sat. May 25th, 2024
"Adani Group's Bold Ambition: Scaling Up Solar Manufacturing to 10 GW by 2027"

“Adani Group’s Bold Ambition: Scaling Up Solar Manufacturing to 10 GW by 2027”

"Adani Group's Bold Ambition: Scaling Up Solar Manufacturing to 10 GW by 2027"
“Adani Group’s Bold Ambition: Scaling Up Solar Manufacturing to 10 GW by 2027”

Adani Group’s Ambitious Plan to Boost Solar Manufacturing to 10 GW by 2027
In an exciting move to bolster its presence in the solar energy market, the Adani Group is gearing up to establish an integrated solar manufacturing capacity of 10 GW by 2027, according to sources cited by PTI.

This strategic initiative aims to significantly expand Adani’s solar manufacturing capabilities, taking them from their current 4 GW to an impressive 10 GW, effectively increasing their capacity by 2.5 times.

Financial Support from Barclays PLC and Deutsche Bank AG
To realize this ambitious goal, Adani recently secured $394 million in funding for solar manufacturing through a trade finance facility provided by Barclays PLC and Deutsche Bank AG. This substantial financial boost demonstrates their commitment to becoming a major player in the solar energy sector.
Adani Solar’s Strong Order Book

Adani Solar is already poised for success, boasting a confirmed order book of over 3,000 MW in exports, which they plan to fulfill over the next 15 months. This expansion not only strengthens Adani’s position but also contributes to India’s efforts to catalyze its solar energy generation capacity.

India’s Remarkable Solar Energy Growth
India has made significant strides in its solar energy journey, increasing its capacity from 2.63 GW in March 2014 to an impressive 71.10 GW by July 2023. However, a weak manufacturing ecosystem has been a significant hurdle in this journey.

Government’s Two-Pronged Strategy
To address this challenge, the government implemented a two-pronged strategy, employing trade and non-trade barriers such as safeguard duties, an approved list of module manufacturers (ALMM), and a production-linked incentive (PLI) scheme.

Adani Group’s Solar Manufacturing Advancements
Adani Group entered the solar manufacturing sector in 2015, marking a pivotal moment in their renewable energy endeavors. They initiated solar PV manufacturing with Adani Solar, commencing operations in 2016 with a 1.2 GW cell and module manufacturing capacity.

In less than six years, Adani Solar has made remarkable progress, expanding its solar power production capacity to an impressive 4 GW module and 4 GW cell manufacturing capability today.
India’s Largest Solar PV Capacity at Mundra SEZ
Notably, Adani also operates India’s largest solar PV capacity for cells and modules at the Mundra Special Economic Zone (SEZ), solidifying its position as a key player in the Indian solar industry. Since its inception, Adani Solar has sold over 7 GW of modules, catering to both domestic and global demand.

Recognized Excellence
Adani Solar’s excellence in the industry is further underscored by its ranking among the top three solar module suppliers in 2022, as per Mercom’s India Solar Market Leaderboard for 2023.
Adani Group’s visionary approach and substantial investments in solar manufacturing are not only propelling them to the forefront of India’s solar energy landscape but also contributing significantly to the country’s renewable energy goals.

With their continued dedication and expansion, Adani is set to play a pivotal role in India’s sustainable energy future.

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