ALMM

India invited bids to set up 69.8 GW of renewable energy capacity, far surpassing the annual bidding target of 50 GW. The bidding activity surged due to large-scale potential for market growth, central government support in terms of targets and regulatory frameworks, and higher operating margins.

Vikram Solar will manufacture and supply bifacial PV modules for Gujarat Industries Power Co. Ltd’s project at the RE Park in Khavda village in Gujarat.

The ALMM reinstatement opens up a vast market for domestic solar panel manufacturers by creating a non-tariff barrier for Chinese products. However, for projects and schemes such as PM Surya Ghar: Muft Bijli Yojana which mandate domestic content requirement (DCR), the shortage of domestically manufactured cells could lead to an increase in the cost of DCR modules.

India set new record for monthly renewable energy installation by adding 7.1 GW of renewable energy capacity in March 2024. This monthly RE addition comprised more than 6.2 GW from solar.

Solar manufacturers have until March 12 to bid for domestic manufacturing and supply of solar modules with made-in-India PV cells.

The ALMM mandate reimposed from April 1, 2024 provides relief for solar developers with advanced progress in development and with expected commissioning post-March 31, 2024. It also allows exemption for open access-based and captive solar projects, enabling these projects to source modules from the most cost-competitive sources.

Vikram V, vice president & co-group head-corporate ratings, ICRA Ltd, speaks to pv magazine about falling solar cell and module prices, its impact on the Indian pv manufacturers, and way forward.

Large-scale solar projects in India are facing delays of at least two-three months. The primary reason is Indian companies’ dependency on Chinese products and equipment, which may result in shipping delays and cost fluctuations. But, many companies in India have their solar module stocks already ready and can provide their products at the same price as Chinese brands, Tanmoy Duari, CEO, AXITEC Energy India, tells pv magazine.

India’s solar panel imports in the April-Sept. period of FY 2024 surpassed the value of panels imported in the twelve months of FY 2023. Cell imports have also increased considerably year-on-year, with H1 FY 2024 value touching $1,005.07 million.  

Solar Energy Corp. of India Ltd (SECI) is accepting bids to supply 400 MW of domestically manufactured solar modules built with made-in-India cells. The modules must be rated a minimum of 540 Wp each. Bidding ends on Dec. 23.