India’s Solar Energy Sector Gets Fresh Impetus As Adani Solar Bags BNEF Tier-1 Rating

India’s Solar Energy Sector Gets Fresh Impetus As Adani Solar Bags BNEF Tier-1 Rating

In their latest quarterly report (dated 20th February, 2018) that ranks solar panel manufacturers according to the reliability and performance of their PV modules, Bloomberg New Energy Finance (BNEF) has assigned a world class Tier-1 Bankable status to Adani Solar after it fulfilled the criteria for the same. And while this exciting development for India’s renewable energy sector is deservingly creating waves across the segment, for the Adani Group, it merely serves as a springboard for a promising future.          

The most laudable aspect of this achievement, however, is the fact that Adani Solar launched its operations only a year back.

An Alternative to China-made Modules   

Globally, China leads the solar cell and module market that supplies 50% of the total market. Companies like Adani Solar have made globally available an alternative to Chinese-manufactured modules. The beneficiaries are not only the global markets, but also the Indian market for which development of solar modules indigenously is imperative to sustain its renewable energy goals.

On its way to Becoming a Global Solar Energy Giant

Ask any renewable energy enthusiast, and he or she will testify the veracity of BNEF’s rankings being the gold standard and a vital industry parameter to judge the quality, capability and bankability of a solar panel manufacturer.   

Purists will point towards the state-of-the-art hi-tech solar PV cells and modules using advanced Multi, Mono PERC and Bifacial cell technology being manufactured by Adani Solar or its market leadership in R&D that always plans 6-12 months ahead of the competition. However, the firm also attributes its success to winning over its esteemed customers through extreme dedication towards their vision of building a clean and energy-secure future for the country.

Adani Solar is the first company in the world to start a Greenfield project in solar energy of GW scale, and has completed a 1.2 GW cell / module facility (Phase 1) within a year with best-in-class equipment sourced from European suppliers. This facility currently sits at a remarkable 1.5 GW capacity, and is India’s largest.

What separates Adani Solar from its competitors is the way it views fulfilling India’s pledges at the landmark Paris climate change accord as a responsibility. And it doesn’t stop at simply rapidly building a world-class solar energy infrastructure – the company is also committed to making solar energy both affordable and accessible to all.

This ambitious vision dovetails perfectly with the nation-building and socio-economic development objectives of the Adani Group. And Adani Solar is only dreaming bigger.

Defining the Future

Adani Solar aims to become a global supplier of choice for PV products while achieving cost leadership, and the excellent rating by BNEF is a ringing endorsement of the reliability of their modules.

Adani Solar has also initiated a development plan for 3 GW of integrated PV manufacturing including polysilicon / ingot / wafer capability with a view to double its capacity in two years. To help their cause, they have already tied up with leading global institutes such as ISC, UNSW, PI Berlin, and Fraunhofer for material and process improvements.  

As India’s largest solar cell and module manufacturer, Adani Solar has been continuously setting new benchmarks for other aspirants in the Indian solar energy sector to follow. This stamp of excellence by BNEF ultimately bodes well not only for Adani Solar’s ambition of becoming a world leader in the segment, but also for India’s renewable energy aspirations and carbon emission reduction targets.