New Energy
India Mulls $1 Billion Subsidy Plan to China-Proof Solar Sector
- Subsidy package to seek cabinet approval in coming months
- Scheme should help India reduce reliance on Chinese imports
A solar power plant in Tuticorin, India.
Photographer: Prashanth Vishwanathan/Bloomberg
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India is finalizing a $1 billion capital subsidy plan to bolster its solar manufacturing industry, according to people with knowledge of the matter, as part of a wider effort to reduce dependence on China and profit from the global energy transition.
The proposal is being made by the Ministry of New and Renewable Energy and will target domestic makers of wafers and ingots, one of the weakest segments of the country’s solar industry, according to the people, who asked not to be identified as the discussions are private.