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Spurred by the Indian government's call for the industry to push for self-reliance and reduce imports, India's homegrown solar solutions provider Vikram Solar has announced plans for
a new solar cell and module manufacturing facility.
According to the plan, Vikram Solar intends to build a 3 GW solar production facility in Tamil Nadu to produce wafers, cells and modules, which is expected to be operational
within five years.
To this end, the company has signed a Memorandum of Understanding (MoU)
with the Government of Tamil Nadu.
It is estimated that the investment in the new manufacturing plant will require about $727.
4 million and will create 7,542 jobs
nationwide.
This plan is in line with the government's vision to encourage local manufacturing, which aims to reduce imports to other countries such as China by promoting domestic manufacturing and to recover the economy from the coronavirus pandemic
.
According to the latest news, in order to protect the interests of domestic manufacturers and reduce dependence on imported products, the General Administration of Trade Remedies has proposed to extend the protective tariff on imported solar cells for another year
.
The bureau proposes a 14.
9 percent tariff for the first six months starting July 30 this year and a 14.
5 percent tariff
for the following six months.
Another indigenous manufacturer, ReNew Power, made a similar announcement last week, with plans to build a 2 GW battery and module manufacturing plant
.
India currently has a manufacturing capacity of 11 GW of solar modules and 3.
1 GW of solar cells
.
Of the country's annual demand for 10 GW of solar equipment, 85% is imported
.
Spurred by the Indian government's call for the industry to push for self-reliance and reduce imports, India's homegrown solar solutions provider Vikram Solar has announced plans for
a new solar cell and module manufacturing facility.
According to the plan, Vikram Solar intends to build a 3 GW solar production facility in Tamil Nadu to produce wafers, cells and modules, which is expected to be operational
within five years.
To this end, the company has signed a Memorandum of Understanding (MoU)
with the Government of Tamil Nadu.
It is estimated that the investment in the new manufacturing plant will require about $727.
4 million and will create 7,542 jobs
nationwide.
This plan is in line with the government's vision to encourage local manufacturing, which aims to reduce imports to other countries such as China by promoting domestic manufacturing and to recover the economy from the coronavirus pandemic
.
According to the latest news, in order to protect the interests of domestic manufacturers and reduce dependence on imported products, the General Administration of Trade Remedies has proposed to extend the protective tariff on imported solar cells for another year
.
The bureau proposes a 14.
9 percent tariff for the first six months starting July 30 this year and a 14.
5 percent tariff
for the following six months.
Another indigenous manufacturer, ReNew Power, made a similar announcement last week, with plans to build a 2 GW battery and module manufacturing plant
.
India currently has a manufacturing capacity of 11 GW of solar modules and 3.
1 GW of solar cells
.
Of the country's annual demand for 10 GW of solar equipment, 85% is imported
.
