Jain also added that the country’s dependence on China for sourcing panels can be reduced now since Indian companies such as Adani and Tata Power are also planning to manufacture solar panels
Renewable company JSW Energy is exploring the idea of sourcing solar panels from the newly formed renewable energy business of conglomerate Reliance Industries Ltd (RIL), as per JSW Energy’s Joint Managing Director Prashant Jain.
In a conversation with Hindu BusinessLine, Jain said, “We are eagerly awaiting Reliance’s entry into green power. They are talking of setting up a Giga factory to produce 10 GW of solar panels. We will be happy to source solar panels from Reliance.”
RIL had recently announced that it would be venturing into the renewable energy business and would invest Rs 75,000 crore in setting up four gigafactories to make renewable energy equipment like solar photovoltaic cells, green hydrogen, batteries and fuel cells over the next three years.
Chairman Mukesh Ambani had said that Rs 60,000 crore would be invested in the fire factories while the additional amount will be put to use towards building the value chain, partnerships, and future technologies including upstream and downstream industries.
Jain also added that the country’s dependence on China for sourcing panels can be reduced now since Indian companies such as Adani and Tata Power are also planning to manufacture solar panels.
Talking about how soon the availability of domestic sourcing substitute imports of such panels, Jain said, “The Government has come out with a specific scheme of PLI (performance linked incentive) for the renewable sector and that is exactly why some of the players want to get into this space. It will take three to five years to source panels at a competitive price in India.”
“There is enough turbine capacity to produce wind energy. In three years, the same will be true for solar panels also, with both demand and production going up. Till then we will have to meet our requirements through imports,” Jain further said.