Advertisement
Advertisement
advertisement

Indian solar equipment makers get funding support

The government will offer viability gap funding (VGF) to make solar power equipment ranging from solar cells to finished panels. 

 

Projects to set up solar equipment factories will be awarded based on which bidder seeks the least amount of VGF—a form of financial support from the government to meet the shortfall in the project cost. The parameters of the scheme are being prepared by the power ministry and NITI Ayog. The minister will also offer assured procurement of panels from the manufacturing facilities to set up with VGF for five to seven years.

The idea is to enable the equipment industry to develop along with the solar power generation industry, for which the government has set up a 100 gigawatt (GW) target to be achieved by 2022, up from the present 6.7GW. The scheme will support integrated factories where every component that goes into solar power generation is produced. At present, India can produce only 1.2GW of solar cells and 5.6GW of solar panels a year, and the rest is met through imports from Europe and China. China controls 70% of the global solar equipment market.

Advertisement
Advertisement

UPCOMING EVENTS

SolarQuarter Tweets

Follow Us For Latest Tweets

SolarQuarter Sri Lanka Solar Week 2019 is almost here! Buy your ticket today https://t.co/MKJKUQd0g3 See you on Aug 29, 2019!… https://t.co/sCmwWmMPyg
About 9 hours ago
SolarQuarter RE Analytics 2019 is almost here! Buy your ticket today https://t.co/lQkdSK7c1q See you on Oct 11, 2019!
About 9 hours ago
SolarQuarter SolarRoofs Andhra Pradesh 2019 is almost here! Buy your ticket today https://t.co/JIuc2VtrW7 See you on Aug 21, 2… https://t.co/EawB3aN9aO
Monday, 19 August 2019 13:02