India has installed a record 6.2GW of new solar capacity in March 2024, nearly doubling the previous record for all renewables, according to a report from Rystad Energy.
Renewables are set to contribute 80% of new power capacity to 2030 in the stated policies scenario (STEPS), with solar PV alone accounting for more than half of it, according to the International Energy Agency (IEA).
The expansion of solar PV and battery storage is keeping the global net zero 1.5 degree pathway open, and the current host of planned manufacturing capacity expansions will be enough to meet demand by 2030.
Chinese solar manufacturer Tongwei has planned to invest RMB20 billion (US$2.7 billion) in its Leshan project, in the Chinese province of Sichuan, to expand ingot pulling, slicing and cell production capacity, so as to accelerate the establishment of “China’s Green Silicon Valley”.
Indian solar manufacturer Waaree will expand its ingot, wafer, cell and module production capacity by 6GW following a second round equity funding raise of around INR10 billion (US$121 million).
German solar module manufacturer RCT Solutions has signed a memorandum of understanding (MoU) to build a 10GW solar module factory in Manitoba, Canada.
