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					</table>The Ministry of New and Renewable Energy (<a href="https://mnre.gov.in/" target="_blank" rel="noopener">MNRE</a>) has updated the Approved List of Models and Manufacturers (ALMM) by adding 8,653 MW of solar module manufacturing capacity.
The cumulative module manufacturing capacity has reached 87,973 MW after the latest additions.
Premier Energies Global Environment (<a href="http://premierenergies.com/" target="_blank" rel="noopener">Premier Energies</a>) (1,085 MW), <a href="https://indosolsolar.com/" target="_blank" rel="noopener">Indosol Solar</a> (472 MW), Pravanya Solar India (<a href="https://lunosolar.in/" target="_blank" rel="noopener">Luno Solar</a>) (79 MW), <a href="https://gb.solar/" target="_blank" rel="noopener">Green Brilliance Renewable Energy LLP</a> (32 MW), <a href="https://www.nextbrio.com/" target="_blank" rel="noopener">Nextbrio Industries</a> (21 MW), <a href="https://www.amrutenergy.com/" target="_blank" rel="noopener">Amrut Energy</a> (48 MW) were the new entries.
The total number of module manufacturers has now increased to 104.
The companies that increased their capacity are <a href="https://contendresolar.com/" target="_blank" rel="noopener">Contendre Greenergy</a>, adding 45 MW; <a href="https://gautamsolar.com/" target="_blank" rel="noopener">Gautam Solar</a>, adding 382 MW; Goldi Sun (<a href="https://goldisolar.com/" target="_blank" rel="noopener">Goldi Solar</a>), adding 3,114 MW; <a href="https://insolationenergy.in/" target="_blank" rel="noopener">Insolation Green Energy</a>, adding 20 MW; <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew Photovoltaics</a>, adding 84 MW; <a href="https://www.renewsysworld.com/" target="_blank" rel="noopener">RenewSys India</a>, adding 1,197 MW; <a href="https://solex.in/" target="_blank" rel="noopener">Solex Energy</a>, adding 767 MW; <a href="https://waaree.com/" target="_blank" rel="noopener">Waaree Energies</a>, adding 42 MW; <a href="https://oswalsolar.com/" target="_blank" rel="noopener">Oswal Solar Structure</a>, adding 343 MW; <a href="https://www.admsolarpower.com/" target="_blank" rel="noopener">ADM Solar Power and Infrastructure</a>, adding 373 MW; and <a href="https://www.luminousindia.com/?srsltid=AfmBOoo2aGSkRYnLua98iIPr0KIO42eR2Dy4ryUOv0_J6sAKPRlhj0M_" target="_blank" rel="noopener">Luminous Power Technologies</a>, adding 264 MW.
Delisted companies re-included in the ALMM are <a href="https://agrawalrenewableenergy.com/" target="_blank" rel="noopener">Agrawal Renewable Energy</a> (125 MW) and <a href="https://www.uniquepowercorp.com/" target="_blank" rel="noopener">Unique Power</a> (160 MW).
In April this year, MNRE <a href="https://www.mercomindia.com/mnre-adds-14670-mw-solar-module-capacity-under-almm" target="_blank" rel="noopener">updated</a> the ALMM by adding 5,085 MW of solar module manufacturing capacity.
Recently, MNRE <a href="https://www.mercomindia.com/mnre-lowers-module-efficiency-thresholds-for-off-grid-solar-projects" target="_blank" rel="noopener">reduced</a> the minimum module efficiency requirement under the Approved List of Models and Manufacturers for modules used in off-grid solar projects. The minimum efficiency for crystalline silicon technology modules used in off-grid solar projects was reduced to 18% from 19%.
The efficiency of cadmium telluride thin film technology modules remained the same.
MNRE also <a href="https://www.mercomindia.com/mnre-issues-clarifications-on-enlisting-solar-cells-in-almm" target="_blank" rel="noopener">issued</a> clarifications on solar cells enlistment in the ALMM. The Ministry said it would treat potential induced degradation (PID) and non-PID cells as different products or families and enlist them separately.
India <a href="https://www.mercomindia.com/almm-strong-demand-drive-indias-solar-panel-manufacturing-capacity-to-25-3-gw-in-2024" target="_blank" rel="noopener">added</a> 25.3 GW of solar module capacity and 11.6 GW of solar cell capacity in calendar year 2024, according to Mercom’s State of Solar PV Manufacturing in India 2025 report. The additions were primarily driven by demand from the solar project pipeline and the reimposition of the ALMM order from April 2024.

ALMM Enlisted Solar Module Capacity Rises to 87.97 GW

<a href="http://www.dqsolar.com/about.php" target="_blank" rel="noopener">Daqo New Energy Corporation</a>, a Chinese solar photovoltaic-grade polysilicon manufacturer, reported a revenue of $1.2 billion in the first quarter (Q1) of 2022, a year-over-year (YoY) increase of 399% compared to $256.1 million last year, and a quarter-over-quarter (QoQ) surge of 224% compared to $395.5 million in the fourth quarter (Q4) 2021.
The company stated that the QoQ surge in revenue resulted from higher polysilicon sales volume partially offset by a lower average selling price.
The Chinese PV manufacturer produced 31,383 million tons (MT) of polysilicon in Q1 2022, a QoQ surge of 33% in production compared to 23,616 MT in the fourth quarter of 2021. The company’s polysilicon sales volume skyrocketed by 233% to 38,839 MT, compared to 11,642 MT in the earlier quarter.
The average selling price of polysilicon in Q1 was $32.76/kg, compared to $33.91/kg in the same period a year ago.
The cumulative income of Daqo New Energy from operations in Q1 2022 amounted to $796.9 million, a YoY surge of 629%, and a QoQ surge of 249.3%, compared to $109.2 million and $228.1 million, respectively, in the same period last year. The operating margin was 62.2%, compared to 42.6% in Q1 2021 and 57.7% in the fourth quarter of 2021.
The Chinese polysilicon manufacturer’s gross profit amounted to $813.6 million in Q1, a YoY increase of 584%, and a QoQ surge of 239.2% compared to $118.9 million and $239.8 million, respectively, last year. The company recorded a 63.5% increase in gross margin in Q1 and attributed the surge in sales to increased gross profit.
Daqo New Energy’s Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) for Q1 amounted to $826.8 million, a YoY rise of 545.4%, and a QoQ surge of 229.2. The net income attributable to Daqo New Energy’s shareholders in Q1 was $535.8 million, a YoY surge of 543%, and a QoQ increase of 279%.
China <a href="https://mercomindia.com/china-exports-modules-2021/" target="_blank" rel="noopener">exported</a> 100 GW of solar modules last year, despite the challenges posed by the pandemic, while the country deployed 55 GW of new solar installations in 2021. The annual output growth rate was 50-60%.
Last July, Daqo New Energy <a href="https://mercomindia.com/funding-and-ma-roundup-greenvolt-ipo/" target="_blank" rel="noopener">announced</a> that it would apply for an initial public offering of its major operational subsidiary— Xinjiang Daqo New Energy (Xinjiang Daqo), on the Shanghai Stock Exchange’s Sci-Tech innovation board.

Polysilicon Manufacturer Daqo Reports a YoY Revenue Surge of 399% in Q1 2022

Minister of Power R.K. Singh called a meeting yesterday with solar project developers and manufacturers to understand the state of the solar industry in India.
In the <a href="https://mercomindia.com/minister-power-meet-major-solar-developers/" target="_blank" rel="noopener">meeting</a>, Singh discussed the level of growth in the Indian solar sector, the issues affecting it, and the path forward.
During the meeting, it became apparent that Singh is new to the sector and does not yet understand the landscape of the Indian solar industry. However, he was very interested in learning and hearing what everyone else had to say.
All major solar project developers and module manufacturers attended the meeting. Since this is the beginning of Singh’s tenure, he wanted to test the waters before setting off to achieve his targets.
Right in the beginning, Singh said that there would be no discussion about the ongoing <a href="https://mercomindia.com/breaking-india-initiates-anti-dumping-proceedings-solar-imports-china-taiwan-malaysia/" target="_blank" rel="noopener">anti-dumping case</a> as the matter is going through due process with another government body.
During the meeting, Singh asked developers and manufacturers to speak about the challenges they face, how to make targets achievable, and best practices in the sector.
Developers mentioned they are having trouble securing land for project construction in certain parts of the country. Manufacturers said there is not a single dedicated policy –  other than MSIPs – and said the new minister needs to do something about that.
The developers said, since we know that we must achieve a target of 100 GW by 2022, the government needs to plan for yearly installation targets. This way, developers will know that what amount will be auctioned and they can plan accordingly.
The manufacturers also agreed that if yearly tendering/auction targets are known, then there will be clarity regarding bidding and this gives them insight into how the market will move. At present, there are no such assurances because tendering is inconsistent and <a href="https://mercomindia.com/solar-tender-auction-activity-india-dropped-significantly-july-2017/" target="_blank" rel="noopener">auction activity</a> has dropped significantly.
The developers also noted that the government has set a 5 percent Goods and Services Tax (GST) on solar systems, but even after several months the GST is not clear on input, and that has created <a href="https://mercomindia.com/gst-update-confusion-reigns-around-gst-solar-systems-mnre-wants-5-percent-rate-components/" target="_blank" rel="noopener">confusion</a>. For instance, it is not clear how the GST would apply to a solar module that does not constitute an entire solar system and cannot generate power on its own.
At the meeting, it was stressed that the government also needs to create avenues to unlock financing. More institutions are willing to invest, but the government first needs to remove policy bottlenecks so that insurance and pension funds can finance solar energy projects.
The new minister wanted to know the ground reality and how fast the entire manufacturing supply chain could be scaled up. He took inputs from all manufacturers on this topic which should be encouraging to the manufacturers.
The stakeholders also mentioned delays in general dispute resolutions. It was brought to the attention of the minister that there’s only one bench for grievances, in Delhi. There’s a huge grievance backlog, and more appellate bodies are required at multiple locations.
The developers also asked the minister to strictly enforce the sanctity of signed contracts. Recently, states such as <a href="https://mercomindia.com/5-mw-solar-project-commissioned-mahoba-uttar-pradesh/" target="_blank" rel="noopener">Uttar Pradesh</a>, <a href="https://mercomindia.com/tangedco-sign-ppas-1500-mw-solar-rs-3-47-0-054kwh/" target="_blank" rel="noopener">Tamil Nadu</a>, and <a href="https://mercomindia.com/discom-developers-agree-renegotiated-tariff-%E2%82%B94-95kwh-jharkhand-develop-685-mw-solar-projects/" target="_blank" rel="noopener">Jharkhand</a> have manipulated developers into renegotiating the tariffs for power purchase agreements (PPAs).
The only thing Singh said with certainty was that developers should not be penalized if the fault lies with government regulatory bodies.
The meeting could be a good first step for the new minister if he implements policies that answer some of the important issues that were shared with him by attendees.
Image credit: Office of R.K. Singh

What Happened in the Meeting Between Solar Industry Stakeholders and Minister of Power

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