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Tata Power Solar doubles manufacturing capacity to 1100 MW
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Last Updated: Apr 07, 2021, 02:31 PM IST
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The expansion is based on the significant increase in demand for its solar modules, as well as the expected increase in demand due to supportive policy steps announced by the government for creating an Aatmanirbhar Bharat , company said in a statement.
Reuters
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Tata Power Solar on Wednesday said it has doubled its solar cell and module manufacturing capacity to 1100 MW. Tata Power Solar Systems Ltd. announced a significant expansion of its state-of-the-art manufacturing facility in Bengaluru, taking the total production capacity of cells and modules to 1100 MW, a company statement said.
PORTLAND, Ore., March 8, 2021 /PRNewswire/ Allied Market Research published a report, titled, Solar Farm Market by Type (Utility-scale, Distributed Generation, Microgrids, and Others) and End User Industry (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2020–2027. According to the report, the global solar farm industry generated $61.4 billion in 2019, and is estimated to generate $261.0 billion by 2027, witnessing a CAGR of 19.8% from 2020 to 2027.
Prime determinants of growth
Supportive government regulations for usage of photovoltaic technology drive the global solar farm market. However, high cost associated with installation hinders the market growth. Contrarily, increase in demand for renewable energy presents new opportunities in the coming years.