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India's solar sector set for first shakeout as capacity balloons

Nikkei Asia · last updated
Energy

India’s solar sector set for first shakeout as capacity balloons

New emphasis on upstream components benefits vertically integrated makers

India’s current module manufacturing capacity stands at more than 140 gigawatts, or nearly triple annual domestic demand, according to Wood Mackenzie. © Reuters

ANANTA AGARWAL

February 26, 2026 15:56 JST

BENGALURU — India’s solar manufacturing industry is heading toward its first big shakeout as tighter government policy and increasingly excessive module capacity shift the advantage to larger, vertically integrated players that also produce upstream components.

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