Mundra Solar PV eyes $1 billion Turnover

In Clean News, News, Renewable Energy, Solar

At a time when Indian solar cell and module manufacturers are struggling to do business. A major manufacturer — Moser Baer Solar — has suffered bankruptcy and will soon receive bids for takeover.

And other manufacturers, through the Indian Solar Manufacturers Association, have filed petitions with the government to levy safeguards and anti-dumping duties on imported solar cells and modules.

A subsidiary of Adani Enterprises, Mundra has announced plans to increase the solar cell and module production from 1,200 megawatts each to 3,000 megawatts each over the next 2-3 years. It also eyes a $1 billion turnover by the same time. Mundra has announced these highly aggressive plans at a time when other Indian solar cell and module manufacturers are struggling to do business.

Mundra will likely have to export a large volume of its solar cells and modules in order to achieve the target turnover of $1 billion. Adani is looking to set up solar power projects in Australia and has shown interest in developing projects in other countries as well.

Mundra Solar PV is reported to have assembly lines to produce 1,200 megawatts each of solar cells and solar modules. Till last year Mundra had a share of over 40% in India’s total installed solar cell production capacity and a 15% share in the total installed solar module production capacity.

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