The Ministry of New & Renewable Energy (MNRE) has shared the status of installed domestic manufacturing capacities across various solar PV manufacturing value chains with the Finance Ministry and NBFCs for better evaluation of loan applications for clean energy projects.
MNRE, has circulated to Department of Financial Services and NBFCs like PFC, REC and IREDA, the status of present installed domestic manufacturing capacities across various sectors of solar PV manufacturing, including solar modules and upstream stages like solar cells, ingots-wafers, polysilicon as well as ancillary equipment like solar glass and aluminium frames, the Ministry said.
This will help financial institutions adopt a calibrated and well-informed approach while evaluating proposals for financing any manufacturing facility in the solar PV manufacturing sector and explore as well as expand their solar PV manufacturing portfolio to upstream stages like solar cells, ingots-wafers and polysilicon, it added.
It will also aid in better evaluation of loan applications for solar module ancillaries like solar glass and aluminium frames, etc. as well, rather than being limited to financing solar PV module manufacturing facilities alone.
The 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, the Ministry said.
The government is committed to make India self-reliant in solar PV manufacturing and establish the country as a major player in the global value chain.
This commitment is supported through a comprehensive set of initiatives, including the PLI Scheme for High Efficiency Solar PV Modules and measures to provide a level playing field for the Indian manufacturers.
The catalytic effect of these interventions has resulted in an expansion in solar module manufacturing capacity, from just 2.3 gigawatt (GW) in 2014 to around 122 GW enlisted in MNRE’s Approved List of Models and Manufacturers (ALMM) at present.
This expansion underscores the success of the Indian solar PV manufacturing story through the collective efforts of industry, various State Governments and the Government of India, while also reinforcing India’s commitment to achieving 500 GW of non-fossil fuel capacity by 2030 and contributing meaningfully to global decarbonization efforts.
The MNRE remains committed to further strengthening the solar manufacturing ecosystem through continued policy support, infrastructure development, and innovation. The Ministry will continue engaging with stakeholders to ensure India’s solar journey remains inclusive, competitive, and future ready.
Published on December 7, 2025
