Energetica India Magazine - November 2025

Source: CareEdge Ratings Chetan Shah, Chairman and Manag- ing Director, Solex Energy, said, “In terms of the supply chain, India is steadily building its own ecosystem for raw materials. It’s really just a matter of time. For instance, when you look at the raw materials re- quired for solar modules, we already have one of the most advanced junction box manufacturers right here in India. We now have nearly 30 companies pro- ducing EVA, POE, and EPE materials, along with about five glass manufacturers. So, the entire ecosystem is gradually taking shape within the country.” He further added, “This means we will no longer be depen- dent on China. Of course, there will still be some supply coming from China, but not dependency, and that’s a great development. Five years down the line, we can expect nearly everything to be manufactured in India.” India’s Roadmap for Reducing Dependence India is strengthening its solar PV manufacturing base through measures such as BCD on imports, mandatory DCR use in government projects, Production Linked Incentive (PLI) backed capacity expansion, Approved List of Modules and Manufacturers (ALMM) quality norms, and anti-dump- ing duties on key components, including solar cells and solar glass. Under the PLI scheme for high-efficiency solar PVmodules, in Tranche-I, the government allocated INR 4,500 crore for 8.737 GW of fully integrated manufacturing units. In Tranche-II, letters of award were issued for 39.6 GW of fully/partially in- tegrated units with a PLI allocation of INR 13,937.575 crore – including 15.4 GW of fully integrated (polysilicon to mod- ule), 16.8 GW of partially integrated (wafer to module), and 7.4 GW of cell + module capacity. Capacity expansion under the scheme has seen steady ad- vancement, reaching 2.2 GWp at the wafer stage, 9.7 GWp at the cell stage, and 18.6 GWp at the module stage. Though progress is slower than planned due to equipment and labour shortages, these are expected to gather pace with ALMM be- ing expanded to upstream components. The government has already added solar cells to the ALMM to be effective from June 2026 and proposed including wafers from June 2028, contingent on at least three domestic wafer units with 15 GW combined capacity and matching ingot capability. China remains the dominant global supplier of ingots and wafers, while India’s current wafer capacity is only around 2 GWp. To reduce dependence, the government has allocat- energetica INDIA- November_2025 40 FEATURE STORY