India's solar sector can become exporter to Europe, says Renewables Norway CEO

India's solar sector is a big opportunity and could grow into an exporter of equipment to Europe, according to the chief executive of Renewables Norway.

Speaking to The Economic Times, the CEO pointed to India's fast-growing solar manufacturing base and its cost edge. He said those strengths could help Indian companies supply solar panels and components to European buyers looking for alternatives to Chinese imports.

Europe needs to diversify its clean energy supply chains. India, with its large production capacity and competitive pricing, is well placed to fill that gap.

The Renewables Norway chief stressed that India should not just build solar plants for its own use. It should also aim to become a manufacturing hub for the world. That shift, he said, would bring jobs, investment, and export revenue.

India has already taken steps to boost domestic solar production. The government's production-linked incentive scheme offers financial support to makers of solar cells and modules. Several companies have announced new factories in the past two years.

Still, challenges remain. Indian manufacturers face stiff competition from China, which dominates global solar supply chains. Chinese companies produce about 80% of the world's solar cells and modules. They benefit from economies of scale and strong state backing.

But Europe wants to reduce its reliance on Beijing. The European Union has set targets to bring more renewable energy supply chains home or to trusted partners. India, with its democratic government and growing industrial base, fits that bill.

The CEO said Norway's renewable energy industry sees India as a natural partner. Norwegian companies already work with Indian firms on wind and solar projects. Closer ties in solar manufacturing could follow.

India's solar sector has grown rapidly over the past decade. Installed solar capacity has jumped from under 3 gigawatts in 2014 to more than 70 gigawatts today. The government aims to hit 500 gigawatts of renewable energy capacity by 2030.

That target will require huge amounts of solar panels. Building a domestic supply chain reduces dependence on imports and creates a surplus for export.

The Renewables Norway CEO's comments come at a time when global solar trade is shifting. The United States has slapped tariffs on Chinese solar goods. Europe is drafting its own rules to limit imports from China. India could step into that space.

But Indian manufacturers need to meet European quality standards and environmental rules. They also need to build trust with buyers who have long relied on Chinese suppliers.

Several Indian companies are already moving in that direction. Waaree Energies, Vikram Solar, and Tata Power Solar have all expanded production capacity. Some have signed deals to supply projects in the Middle East and Africa. Europe could be the next market.

The CEO said the opportunity is real but will not come automatically. Indian firms must invest in technology, training, and certification. They also need stable policies from the Indian government to attract long-term investment.

Norway itself is a major clean energy player. Its state-owned company Equinor invests in offshore wind and solar worldwide. Norwegian firms also make components for solar and wind farms.

The Renewables Norway chief made clear that India's solar story is not just about domestic power. It is about becoming a global supplier.