New Delhi, 7 December (H.S.): The Ministry of New and Renewable Energy (MNRE) has reaffirmed its commitment to building a robust and self-reliant solar manufacturing ecosystem, urging financial institutions to adopt a calibrated and well-informed approach while evaluating proposals for financing across the solar value chain.

Dismissing speculation in sections of the media, MNRE clarified that no advisory has been issued to lenders or financial institutions to halt or pause financing for renewable energy (RE) projects. Instead, the Ministry has shared updated data on domestic manufacturing capacities — spanning modules, solar cells, ingots, wafers, polysilicon, and ancillary components such as solar glass and aluminium frames — to help financial institutions make informed funding decisions.

The move aims to encourage lenders, including the Power Finance Corporation (PFC), Rural Electrification Corporation (REC), and Indian Renewable Energy Development Agency (IREDA), to diversify their solar-related financing beyond module manufacturing and expand into upstream segments like solar cells, ingots, wafers, and polysilicon production.

India’s achievements in the renewable sector remain remarkable. As of October 31, 2025, the country’s non-fossil fuel installed electricity capacity stands at approximately 259 GW, with 31.2 GW added in the ongoing financial year — achieving the Paris Agreement target of 50% clean capacity five years ahead of schedule.The Ministry underlined that the Government of India’s holistic policy framework — including the Production Linked Incentive (PLI) Scheme for High Efficiency Solar PV Modules — has catalyzed exponential growth in domestic manufacturing.

India’s solar module manufacturing capacity has grown from just 2.3 GW in 2014 to around 122 GW enlisted in MNRE’s Approved List of Models and Manufacturers (ALMM) as of today.This rapid expansion underscores the success of India’s solar manufacturing mission, reflecting joint efforts across the Centre, State Governments, and private sector partners.

MNRE stated that such progress strengthens India’s position as a major contender in the global solar value chain, aligning with the nation’s ambitious goal of achieving 500 GW of non-fossil energy capacity by 2030.

Reiterating its vision for sustainable, inclusive, and innovation-led growth, MNRE emphasized its continued engagement with stakeholders to ensure that India’s solar sector remains globally competitive, future-ready, and anchored in self-reliance.

---------------

Hindusthan Samachar / Jun Sarkar