Adani Solar eyes 50% market share within 2 years

Chinese solar modules currently meet around 80% of India’s demand. Domestic modules face stiff competition from those imported from China, which cost 10-20% less, even after the imposition of safeguard duties.

Adani Solar's manufacturing unit at Mundra, Gujarat

Image: Adani

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Adani Group‘s solar manufacturing arm, Mundra Solar PV (Adani Solar), is eyeing a 50% share of the market in the next two years, with cheaper, more durable modules designed for the Indian market. The company currently has a market share of 10%.

PTI quoted Cecil Augustine, general manager of business development at Adani Solar, as saying that the company is now manufacturing modules for the Indian market, as 80% of the solar panels in the country are made in China. He also told the news agency that the company is confident that it can capture half of the market within the next two years.

Domestic solar modules face stiff competition from Chinese imports, which cost 10-20% less, even after the imposition of safeguard duty.

“China’s ability to make solar panels at about 20% less cost than Indian companies simply turns out to be economies of scale,” Subrahmanyam Pulipaka, chief executive officer of the National Solar Energy Federation Of India (NSEFI), told pv magazine in a recent article on module manufacturing in India. “Larger factories can negotiate better contracts with suppliers and manufacturing equipment in these factories can efficiently match up the production rates at different stages in the process due to optimal utilization.”

Adani Solar stands to gain from its vertically integrated business, as it offers services across the spectrum of photovoltaics manufacturing. Its state-of-the-art manufacturing facility in Mundra, Gujarat, is optimised to eventually scale up to 3 GW of module and cell capacity. The factory covers the entire solar manufacturing ecosystem, from polysilicon to modules

Last year, Adani Solar claimed it was the only Indian company to be featured in the fourth annual PV Module Reliability Scorecard report by DNV GL. It bagged the top award for three rigorous tests such as Thermal Cycle 600, Dynamic Load Test (DML) and potential induced degradation.

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