Adani Group plans to build 10 GW of integrated solar manufacturing capacity by 2027 in order to expand its presence in the solar energy market, according to PTI, citing sources.

The plan will more than double the company's current solar manufacturing capacity of 4 GW. Adani recently raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility, which is a significant step towards the success of this plan.

Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months. The move will help India catalyse its solar energy generation capacity. So far, the country has increased its capacity from 2.63 GW in March 2014 to 71.10 GW in July 2023. However, weak manufacturing ecosystem proved to be a major impediment in the journey.

The government used a two-pronged strategy to change the scenario. It included the implementation of trade and non-trade barriers such as safeguard duty, an approved list of module manufacturers (ALMM), and a production-linked incentive (PLI) scheme.

This prompted private players, such as Adani, to increase their investment in the solar manufacturing sector. Adani Group made significant progress in aligning and incubating solar PV manufacturing with Adani Solar in 2015. Previously, Adani Green Energy Limited (AGEL), a listed renewable energy generation entity, had achieved success in the conventional energy sector.