OCTOBER - 20248INDIA'S SOLAR MANUFACTURING INDUSTRY EXPANDS WITH 11.3 GW MODULE CAPACITYIndia's solar manufacturing industry experienced significant growth in the first six months of 2024, as per the recent report from Mercom India Research. The report `State of Solar PV Manufacturing in India 1H 2024' shows that India increased its solar module capacity by 11.3 GW and solar cell capacity by 2 GW in this timeframe.The increase in production capabilities is linked to high demand, with estimated solar project pipelines of 132.7 GW for the years 2024 to 2026. The growth was also influenced by the reintroduction of the Approved List of Models and Manufacturers (ALMM) order in April 2024.By June 2024, India had a total solar module manufacturing capacity of 77.2 GW and a solar cell manufacturing capacity of 7.6 GW. The report highlights that around 51 GW of module capacity from different technologies and wattages were certified with ALMM by June 2024.The sector was mainly controlled by the top 10 manufacturers, who had almost 58 percent of module production capacity and all cell production capacity. In the future, the forecast predicts that India will have a total capacity of 172 GW for manufacturing solar modules by 2026, with cell capacity predicted to nearly reach 80 GW.Even with these positive advancements, obstacles still exist. Raj Prabhu, CEO of Mercom Capital Group, pointed out that the availability of modules made in the country is limited because cell production capacity is not meeting demand. This mismatch may result in delays for projects and continued high module prices until supply and demand balance out. IMRAMNEAL PHARMACEUTICALS TO SET UP 2 NEW MANUFACTURING FACILITIES IN INDIAAmneal Pharmaceuticals, a top pharmaceutical company, announced plans to spend up to USD 200 million (approximately Rs 1,680 crore) in India within the next four to five years on constructing two new manufacturing plants in Ahmedabad. The company announced that it plans to build two new facilities, one for peptide synthesis and one for advanced sterile fill-finish manufacturing."In this latest expansion in India, Amneal will make a total net investment of between USD 150 million and USD 200 million over the next four to five years to build two new greenfield facilities...," it said.Commenting on the development, Amneal Pharmaceuticals Co-Founders and Co-Chief Executive Officers Chirag Patel and Chintu Patel said, "With these new facilities, we are proud to be at the forefront of developing and manufacturing innovative, branded medicines at scale in India, which will supply the local market and the rest of the world."The business that commenced activities in India in 2008 now operates eight manufacturing facilities, with five located in Ahmedabad, and also has sites in Dahej, Hyderabad, and Vizag, as well as offices in Mumbai. Over the last decade, around USD 600 million has been put into investments in India.The company stated that these facilities together can manufacture around 60 million injectables and 8.5 billion tablets every year. IMR TOP STORIES
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