Jakson Group Announces Major Investment in Solar Manufacturing
The Jakson Group, a leading Indian energy conglomerate, has announced plans to invest $240 million to establish a 2.5GW solar cell manufacturing facility. The new plant will leverage cutting-edge n-type tunnel oxide passivated contact (TOPCon) technology, recognized for its high efficiency in large-scale solar production. Alongside this, the group will expand its module assembly capacity from 1.2GW to 2GW, further enhancing its manufacturing footprint.
Expansion to Strengthen Supply Chain and Domestic Capacity
The new solar cell plant will be constructed in two phases, with the first phase slated for completion by December 2025. Concurrently, the company’s module production facility will reach its expanded capacity within six months of the announcement. This strategic move will bolster the group’s backward integration capabilities, ensuring a more resilient supply chain for India’s solar sector.
Currently, India’s domestic solar cell production capacity stands at around 7GW. Jakson’s investment aims to bridge the gap between domestic demand and reliance on imports, contributing to the nation’s goal of achieving an “AatmaNirbhar Bharat” (self-reliant India). The project also supports Prime Minister Narendra Modi’s broader vision of economic self-sufficiency.
Overcoming Market Barriers Amidst Policy Changes
India’s solar industry has faced significant challenges due to government incentives and import restrictions, including the Basic Customs Duty (BCD) and the Approved List of Models and Manufacturers (ALMM). These measures, designed to stimulate domestic production, have led to supply shortages, and slowed deployment. However, recent relaxations in the ALMM and increased land availability have helped the sector regain momentum in 2023.
Jakson Group’s investment comes at a crucial time as the country strives to balance domestic production with the need to scale up renewable energy deployment.
