Avaada Group, a leading renewable energy company in India, is set to benefit from the Indian government’s $1 billion capital subsidy plan to boost the country’s solar manufacturing industry. The plan aims to reduce India’s reliance on China for critical solar components like ingot wafers and polysilicon. Vineet Mittal, Chairman of Avaada Group and President of the Sustainable Projects Developers Association (SPDA), stated that the government’s production-linked incentive (PLI) scheme will enable domestic manufacturing and make India self-sufficient in the solar production value chain.
India’s heavy dependence on China for these components is a major driver of the government’s push for self-sufficiency. The country’s domestic manufacturing capacity for solar cells and modules remains limited, with most demand being met through imports from China. The government aims to enhance domestic manufacturing and is targeting 100% domestic production of solar cells by 2026 and 100% domestic production of solar wafers by 2028.
Avaada Group, which has developed 6.5 GW of solar and wind energy projects across India, is rapidly expanding its solar manufacturing capabilities, with plans to scale its solar module manufacturing capacity to 10 GW and solar cell manufacturing capacity to 6 GW. The company is also venturing into green hydrogen production through a strategic partnership with Switzerland’s Casale for ammonia licensing. This multi-faceted approach positions Avaada as a leading player in India’s renewable energy transformation.