India’s solar cell manufacturing capacity to reach 55 GW by fiscal 2027

India’s solar cell manufacturing capacity is set to expand from 10 GW in fiscal 2024 to 50 GW–55 GW by fiscal 2027, driven by government policies aimed at reducing photovoltaic (PV) cell and module imports, according to a report by Crisil Ratings. The expansion will require Rs 280 billion–Rs 300 billion ($3.2 billion–$3.6 billion) in capital expenditure, primarily funded through a 70:30 debt-equity mix. Crisil Ratings analyzed four domestic manufacturers representing 54% of India’s total…