India’s solar push sees a new milestone, as MNRE shares detailed manufacturing capacity data with lenders, helping them back upstream solar projects.
The Ministry of New and Renewable Energy (MNRE) has circulated detailed data on India’s installed solar manufacturing capacities to the Finance Ministry and key non-banking financial companies.
The move is aimed at improving the quality of loan assessments for new clean energy manufacturing proposals.
The information has been shared with the Department of Financial Services and major lenders, including PFC, REC, and IREDA. It covers the entire solar photovoltaic value chain, including modules, solar cells, ingots and wafers, and polysilicon. Details of supporting industries, such as solar glass and aluminium frames, have also been included.
Officials say the data will help financial institutions take an informed approach when reviewing loan applications. It is expected to encourage lenders to support manufacturing projects across upstream segments, rather than confining their exposure to module-making units.
The guidance will also make it easier to evaluate proposals for ancillary components essential to the sector’s growth.
The Ministry stressed that it has not instructed banks or NBFCs to halt lending to renewable energy developers or to equipment manufacturers. Instead, the exercise is meant to expand confidence in the sector and guide future financing decisions.
“It is hereby clarified that MNRE has not issued any advisory to Financial Institutions for stopping lending to either renewable energy power projects or to renewable energy equipment manufacturing facilities,” said the official statement.
The government has reiterated its goal of building a self-reliant and globally competitive solar manufacturing ecosystem. Several policy tools support this mission, including the Production Linked Incentive scheme for high-efficiency modules and measures designed to strengthen the position of domestic producers.
These interventions have delivered significant results. India’s solar module manufacturing capacity has grown from 2.3GW in 2014 to around 122GW now listed in MNRE’s Approved List of Models and Manufacturers.
MNRE says it will continue to work with stakeholders to strengthen infrastructure, promote innovation and ensure India remains on track to achieve 500GW of non-fossil fuel capacity by 2030.
As of 31 October 2025, the installed capacity from non-fossil sources stands at about 259GW, with 31.2GW added in the current financial year up to October 2025.
