Adani Solar plans expansion of its module manufacturing facility by 2 GW

Adani Solar has announced that it will expand its existing cell and module manufacturing facility in Mundra, Gujarat by increasing its production capacity by 2 GW. The current expansion has meant that Adani Solar will have a module manufacturing capacity of 3.5 GW. The new capacity will be in operation in 2021 in anticipation of an increase in domestic demand to 10-12 GW. Given that the bulk of solar modules in India are imported from China, the current expansion plan aims to enhance competitiveness and achieve price parity with Chinese manufacturers. Further, the move is expected to provide direct employment to 5000 people and indirect employment to around 70,000 people in India.

Adani Solar also reported that it had partnered with several pump manufacturers for the installation of solar pumps under the PM-KUSUM scheme. The company aims to spend 70 per cent of its energy-related CAPEX for the development of its renewable portfolio in the coming years. The current expansion was planned after Adani Solar, in June 2020, won the rights to develop 8 GW along with the setting up of a solar module manufacturing capacity of 2 GW. In January 2020, Adani Green Energy and Azure Power secured 2000 MW of projects and 500 MW of manufacturing capacity at the Solar Energy Corporation of India’s (SECI) first manufacturing-linked solar tender auction. Adani Green Energy is currently the top global solar developer with 2.3 GW of operational projects, 2 GW under construction, and 8 GW of awarded projects, making up a total capacity of 12.3 GW. The company aims to achieve an RE capacity of 25 GW by 2025.