India Renewable Energy Expansion and Domestic Solar Manufacturing Drive

planned

India aims to expand its renewable energy capacity to 359 GW by FY25-30, driven by rising power demand and climate factors. The government is also adding 97 GW of thermal capacity by 2034-35 to ensure grid stability. A key focus is on boosting domestic solar manufacturing through mandates like the Domestic Content Requirement and new rules from June 2028 requiring domestic production of ingots and wafers, pushing for full backward integration in the solar supply chain. This expansion is capital-intensive and faces challenges in cost competitiveness and scale compared to global producers.