National solar panel maker Goldi Solar energy said on Monday it will add 2,000 megawatts (MW) of modular production capacity at its new location, on the edge of the train, at the end of fiscal year 22, along with a 2,500 MW increase in its production base. The Surat-based company said it plans to arrive in the middle of growing global demand for better solar panel technology and value” because the goal is to enter new markets.

The capacity increase is planned in two phases: the first 1,000 MW phase is scheduled to start at the end of the second quarter of 2022, and the remaining 1,000 MW is expected to be operational by the end of the fourth quarter of 2022. The announcement comes two weeks after the Indian Renewable Energy Development Agency invited solar module manufacturers to use a heart-related incentive scheme worth 4,500 crore (PLI).

On this road, and the government made a solar-PLI scheme earlier this year by Tata Power Solar energy to power 400MW of additional module and cell capacity with a total capacity of 1,100 MW. Gautam Solar recently doubled its panel production capacity to 250MW at its factory site – in Haridwar, and Hyderabad, according to the Prime Minister, energy should be invested in Rs.430 crore to triple its module production capacity, to 1,500 MW.

“We have aggressive growth plans for Goldi, and we look forward to expanding our production capacity to 5,000 MW,” said Bharat Bhut, co-founder and CEO, Goldi Solar energy.

The company is focused on creating a multi – gigawatt line for the production of solar panels. To encourage domestic production, the city introduced a 25% guarantee on the right to import solar energy from China and Malaysia in July 2018, for two years, which was extended until July 2021 at a rate of 15%.

Starting from the beginning of the 23rd fiscal year, the solar module will attract a principal debt of 40%. More than 50% of the country’s 10,000 MW of solar power capacity is currently unused, and developers will prefer to import cheaper equipment, primarily from China, for the construction of solar power plants.

Source: Financial Express