The story so far: Recent government orders on attempts to increase local sourcing of solar modules to support India’s renewables manufacturing ecosystem has been widely reported in the media as ‘import restrictions’. India’s domestic renewables sector, at the time, was unlikely to meet the spike in demand for solar power production equipment at rates offered by Chinese manufacturers. According to …
The story so far: To incentivise India’s solar module manufacturing industry, the Ministry of New and Renewable Energy has brought into effect from April 1 an executive order, The Approved Models and Manufacturers of Solar Photovoltaic Modules Order, 2019. This became necessary because India’s solar industry, its claim of indigenousness notwithstanding, is heavily reliant on imports of cheaper and comparable-quality …
Mumbai-based Waaree Energies will invest up to $1 billion in setting up a solar module manufacturing plant in Texas, US. Waaree will supply solar modules to SB Energy over the next five years following the commissioning of the facility, which is expected to be established in 2024, the statement said. Waaree chairman and managing director Hitesh Doshi said: “In partnership …
With the Indian solar power industry facing a supply crunch and the government’s plan to develop the domestic solar equipment industry, Nasdaq-listed ReNew Energy Global Plc plans to apply for the second tranche of the production linked incentive scheme for solar modules. In September, the union cabinet approved the second tranche of PLI scheme worth ₹19,500 crore for domestic manufacture …
The Ministry of New & Renewable Energy has issued a circular stating that the increase in the rate of GST on renewable energy devices and the imposition of Basic Customs Duty on cells and modules would be treated as changes in the law.BCD at the rate of 25% has been imposed on imports of solar PV cells and BCD at …
New Delhi: The government on Wednesday approved a Rs 19,500-crore production linked incentive scheme for manufacturing solar photovoltaic modules in order to attract investment in the solar space in the country. Besides, the government also approved modifications in the scheme for semiconductors and display manufacturing eco-system, with uniform fiscal support of 50 per cent of project cost for all technology …