At a time when most domestic solar manufacturers are struggling with idle capacity in the face of cheap solar cells and modules being imported from China, Noida-based Jakson Group is setting up a greenfield solar plant in a seemingly contrarian decision.
According to Economic Times, the company is investing Rs 6.5 to 7 billion in a new plant in Gujarat that will have a capacity of 1,000 MW of solar modules and 250 MW of solar cells in three years, Jakson Group CMD Sameer Gupta said.
The firm, which has a small 70 MW manufacturing plant in Greater Noida at present, is confident about competing with Chinese imports. Jakson Group CMD Sameer Gupta said that cost difference between the modules we make at Jakson and Chinese ones is not more than 2 percent. Prices of Chinese solar cells and modules have dropped steeply in the last two years, but Gupta does not think they will do so any further.
India’s domestic module manufacturing capacity is currently around 8,113 MW, out of which 5,286 MW are operational. However, actual manufacturing in 2016-17 was barely 1,000-1,500 MW, according to Mercom Capital Group that tracks the segment. That is because there is little demand for domestic products because Chinese imports are substantially cheaper.
