India is pressing ahead with plans to curb reliance on China, the dominant producer of solar power equipment, even as it seeks to add huge volumes of renewable energy.<\/p>\n
A pair of measures in Tuesday\u2019s budget will help Prime Minister Narendra Modi\u2019s efforts to extend his government\u2019s made-in-India campaign to the clean power sector, in which about 80% of all solar hardware is imported from the nation\u2019s northern neighbor.<\/p>\n
Grants of Rs 19,500 crore ($2.6 billion) are being added to spur local equipment production, while there\u2019ll also be a 40% tax on imports of solar modules and 25% on cells from the next fiscal year.<\/p>\n
India, the world\u2019s third biggest emitter of greenhouse gases, plans to more than quadruple its renewable power generation capacity to 450 gigawatts by 2030, including 280 gigawatts of solar. That total will continue to rise sharply as the nation seeks to zero out its emissions by 2070.<\/p>\n
\u201cWith such ambitious targets in mind, one can\u2019t continue to depend on imports and remain exposed to supply chain risks,\u201d said Rupesh Sankhe, vice president at Elara Capital India Pvt. in Mumbai. Building out a local supply chain will limit risks tied to border skirmishes and other disputes with China and also help deliver local jobs, Sankhe said.<\/p>\n
Major local firms including Reliance Industries Ltd. and Adani Group have already outlined plans to add solar equipment production lines.<\/p>\n","protected":false},"excerpt":{"rendered":"
India is pressing ahead with plans to curb reliance on China, the dominant producer of solar power equipment, even as it seeks to add huge volumes of renewable energy. A pair of measures in Tuesday\u2019s budget will help Prime Minister Narendra Modi\u2019s efforts to extend his government\u2019s made-in-India campaign to the clean power sector, in which about 80% of all solar hardware is imported from the nation\u2019s northern neighbor. Grants of Rs 19,500 crore ($2.6 billion) are being added to spur local equipment production, while there\u2019ll also be a 40% tax on imports of solar modules and 25% on cells […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-465790","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/465790","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=465790"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/465790\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=465790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=465790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=465790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}