Tata Power Renewable Energy is not planning any new manufacturing plants despite the government’s push for self-reliance, as it needs more clarity on future policies and financial incentives, its top executive said.
“[Before] having more expansion with greenfield projects or rather than an expansion on new projects for manufacturing, we are looking forward to the policy incentives which are expected from the government,” Ashish Khanna, president of Tata Power Renewable Energy, told ET.
“We need clear visibility for our products to be sold. You don’t set up projects only for one or two years,” he said.
Although the company will double its manufacturing capacity by the end of the year, domestic manufacturing of solar equipment will not be able to compete with Chinese imports unless these incentives are provided to help manufacturers establish plants, Khanna said.