According to a top official, India will emerge as a key player in the global renewable energy equipment supply chain and become an exporter as its solar manufacturing capacity alone reaches 100GW by 2026. The government is implementing a production linked incentive (PLI) scheme worth Rs 24,000 crore, with the goal of assisting in the establishment of 48 GW of solar equipment manufacturing capacity by 2026.

"We want India to be a leading global supplier of renewable energy (equipment)," said New & Renewable Energy Secretary Bhupinder Singh Bhalla at a CII event here.

According to Bhalla, the solar PLI scheme worth Rs 24,000 crore will generate 48GW of new RE manufacturing capacity over the next three years. India currently has 28GW of solar module manufacturing capacity and 6GW of solar cell manufacturing capacity.

He stated that after the implementation of the PLI scheme for solar, India should be able to produce 100GW of solar modules.

"Every year, we need to add 30GW to 40GW of solar power capacity." We still have a significant amount of export capacity. "As a result, India will emerge as a key player in the global supply chain (of solar equipment)," he predicted.

India has set an ambitious target of 500GW of RE capacity by 2030, with the goal of generating 50% of its electricity from non-fossil fuel sources such as solar, wind energy, and green hydrogen.