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<div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><h2>Challenge</h2><p>Demand for solar technologies in India currently outpaces domestic supply. The central government requires an additional 35GW of solar panel generation capacity installed annually, yet India as of 2023 has only 4GW of operational solar cell manufacturing capacity.</p><p>China has been the leading producer globally of several components essential to solar technology, including solar cells, solar modules as well as the materials used to create them. And developers in India, like in many global powers, have had to rely on imports from Chinese companies to meet its solar cell capacity.</p><h2>Solution and Impact</h2><p>A $425 million loan to TP Solar Limited will finance the construction and operation of a 4GW solar cell and 4GW solar module manufacturing facility in India. The new facility will boost India’s domestic production of solar panels, bolster energy security, and support as many as 2,300 full-time local jobs.</p><p>This investment is one of many DFC projects focused on diversifying global supply chains, reducing price volatility and market risk. </p><p>The project benefits not only India and its partners like the U.S., but countries worldwide looking to purchase solar technology. Several assessments conclude that many countries, particularly in Europe and Africa, are looking to India as a viable alternative to China for solar technology production in one of the fasted growing energy markets globally.</p><p><em>This project was profiled in 2023. </em></p></div>
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<script> var _ctct_m = "0eb37dc01ce1ed40c78e6ca251e2da67"; </script>
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<script id="signupScript" src="//static.ctctcdn.com/js/signup-form-widget/current/signup-form-widget.min.js" async defer></script>
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</body>
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</html>
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