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Import restrictions on solar modules return April 1, aiding local capacity. Exemptions exist for projects till March 31, 2024. Domestic manufacturing capacities are projected to grow significantly by 2026.
Existing Solar Module Manufacturers and Green Investors can buy automation machines, turnkey lines or enter into joint venture with Gautam Solar Pvt. Ltd.
Adani Enterprises has revived its capex plan with an initial investment of $1.5bn to kickstart its new businesses, including solar module manufacturing and green hydrogen. The plans were put on hold after the cancellation of the follow-on public offering in February, but the company's boards have now cleared plans to raise up to INR12,500 crore ($1.7bn) via qualified institutional placements. Adani Enterprises owns a range of businesses, including seaports, airports and data centres.
The Sumter County, SC facility will create 300 jobs, help meet the need for locally sourced solar wafers as the demand for solar power grows.
Solar module makers including Reliance Industries, Tata Power, as well as international firms like First Solar, are among bidders for ₹19,500 crore in financial incentives