Jakson Engineers Invests $914M in Solar Factory Expansion

• Jakson Engineers invests $914M in a 6-GW solar plant in India, boosting local jobs and reducing import reliance, aligning with India's 2030 clean energy goals.

Jakson Engineers, part of the Jakson Group, will invest over $914 million to establish a 6-GW solar cell and module plant in Madhya Pradesh, India. This investment aims to bolster India's photovoltaic supply chain, aligning with the country's goal of achieving 500 GW of clean energy by 2030. The facility will cater to India's growing utility and rooftop markets, reducing reliance on imports and benefiting from production-linked incentives. The project promises to enhance lead times, traceability, and local-content advantages, while offering better process control for lenders.

The move signifies a shift towards scale in India's solar sector, with Jakson joining other manufacturers in building large, modern facilities to outcompete smaller operations. Success will depend on securing upstream inputs and ensuring power and water quality. Favorable market conditions, with multi-GW procurement rounds and improving offtake visibility, suggest that if Jakson meets its schedule, it could align with major utility projects and commercial rooftop installations by 2026–2027. The investment is expected to boost local jobs, component ecosystems, and downstream EPC activity, reinforcing India's PV industrial policy and mitigating supply-chain volatility.

How will Jakson's $914 million investment impact India's solar industry and supply chain?

• Strengthens India's photovoltaic manufacturing capabilities, reducing dependency on imported solar components.
  
• Supports India's target of 500 GW of clean energy by 2030 by increasing domestic production capacity.
  
• Enhances local supply chain resilience, reducing risks associated with global supply chain disruptions.
  
• Promotes job creation in the solar manufacturing sector and related industries.
  
• Encourages development of local component ecosystems, fostering innovation and collaboration.
  
• Improves lead times and traceability for solar projects, benefiting project developers and financiers.
• Aligns with government incentives, such as production-linked incentives, to boost domestic manufacturing.
• Contributes to the competitiveness of Indian solar manufacturers on a global scale.
  
• Supports the growth of utility-scale and rooftop solar markets in India.
  
• Potentially reduces costs for solar projects by minimizing import tariffs and logistics expenses.
• Encourages further investments in renewable energy infrastructure and technology in India.
• Enhances energy security by increasing the share of domestically produced solar energy.