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Waaree Energies to enhance solar PV capacity

Waaree Energies to enhance solar PV capacity


Relieved from safeguard duty on solar imports from China and Malaysia, domestic solar PV makers are planning to enhance capacity.

Country’s largest solar PV maker, Waaree Energies Ltd said it will increase its solar PV capacity to 2000MW from 1500MW, Waaree Sr VP Nitin Kapadnis said Tuesday.

The company has its own manufacturing facility in west India and is also planning to have a local capacity to smooth execution of projects in the eastern market.

The government had levied safeguard duty of 25 percent on solar imports from China and Malaysia which is in force from July 30, 2018.

Post-safeguard duty, price of imported PVs has come on a par with domestic ones which has helped Indian companies, Kapadnis said,

He said execution of solar projects has gain momentum in West Bengal since last one year and projects totalling 120MW were executed in 2018-19.

“We are expanding rapidly in West Bengal and have decided to set up our own dedicated capacity of PV cells in the state with manufacturing ties with local companies here,” Kapadnis said.

He said West Bengal government has indicated that projects worth 300MW are lined up in the current fiscal.

“We are also aiming a Rs 65 crore business in Bengal this fiscal against Rs 15 crore in FY’19,” Kapadnis said.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network


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