With a target to reduce dependence on imported solar cells and modules, the Indian government has announced an incentive program for solar cell and module manufacturers.
The government has earmarked $640 million to incentivize solar manufacturers.
The solar power sector is heavily dependent on imports, with around 80-90% of solar modules in India being sourced from China.
Earlier attempts by the government to make Chinese imports unattractive have had a little beneficial impact on Indian solar manufacturers.
US-based First Solar and 1366 Technologies and India’s ReNew Power, Acme Solar, Vikram Solar, and Adani Solar are among 15 companies that have expressed interest in setting up new or expanding existing production facilit