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Goldi Solar aims to raise module making capacity to 2.5 GW by FY22 end

The capacity expansion has been planned in two stages, with the first phase of 1,000 MW slated to commence by the end of Q2FY22, and the remaining 1,000 MW expected to be put on stream by Q4FY22-end.

“The green tariff will the weighted average of the cost of procurement of green energy, which should be slightly lower than the overall energy prices,” Singh said.

Domestic renewable energy firm Goldi Solar on Monday said it will add 2,000-megawatt (MW) module manufacturing capacity in its new facility on the outskirts of Surat by the end of FY22, raising the company’s production base to 2,500 MW. The Surat-headquartered company said the expansion plan “comes amid growing global demand for better technology and value from the solar panels,” as it aims to penetrate newer markets.

The capacity expansion has been planned in two stages, with the first phase of 1,000 MW slated to commence by the end of Q2FY22, and the remaining 1,000 MW expected to be put on stream by Q4FY22-end. The announcement was made two weeks after the Indian Renewable Energy Development Agency invited applications from solar module manufacturers for availing the Centre’s `4,500-crore production-linked incentive (PLI) scheme.

Closely following the Cabinet cleared the solar PLI scheme earlier this year, Tata Power Solar Systems put on stream 400 MW of additional module and cell manufacturing capacity, taking the total capacity to 1,100 MW. Gautam Solar has recently doubled the panel manufacturing capacity to 250 MW at its Haridwar facility and Hyderabad-based Premier Energies has invested `430 crore to increase its module manufacturing capacity by three times to 1,500 MW.

ReNew Power will also develop a 2,000 MW solar cell and module manufacturing facility in Dholera, Gujarat.

“We have aggressive plans for Goldi’s growth and are looking to expand our manufacturing capacity to 5,000 MW,” said Bharat Bhut, co-founder and director, Goldi Solar.

The company also has aimed to set up of multi-gigawatt solar cell manufacturing line, it said in a statement. To boost domestic manufacturing, the Centre had imposed a 25% safeguard duty on solar imports from China and Malaysia in July 2018 for two years, which was extended till July 2021 at a rate of 15%.

From the beginning of FY23, solar module imports will attract a basic customs duty of 40%. About 50% of the country’s 10,000 MW solar manufacturing capacity currently remains unutilised, as developers have preferred to import cheaper equipment, mostly from China, to build solar plants

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