Jakson Group is planning to set up a greenfield solar plant. It is investing Rs.650 to Rs.700 crore in a new plant in Gujarat that will have a capacity of 1,000 MW of solar modules and 250 MW of solar cells in three years.
Jakson Group CMD, said the following,
“We’ve identified the plots where the plant will be based and expect to have 500 MW of module manufacturing capacity up and running by June 2018, reaching our full capacity by mid-2020. The cost difference between the modules we make at Jakson and Chinese ones is not more than 2%.”
Jakson is funding the project through internal accruals and debt in the ratio of about 30:70.
India’s domestic module manufacturing capacity is currently around 8,113 MW, out of which 5,286 MW are operational. However, actual manufacturing in 2016-17 was barely 1,000-1,500 MW. That is because there is little demand for domestic products because Chinese imports are substantially cheaper.
Around 90% of the modules used in Indian solar projects are imported, mostly from China.