Page 10 - Edelweiss India Conference 2022 FLIPBOOK
P. 10
THE NEW EDGE
India’s New Energy Edge - World’s lowest-cost in third-
largest market
India is the lowest-cost producer of PV modules (8% below even China) given locally abundant
ingredients: sand and engineering skills. Notably, India is already the third-largest silicon (from
sand) producer, which is the second-most abundant element (26% of earth’s crust versus 0.002%
for lithium). India itself is the third-largest market for PV modules and the lowest-cost. Similar to the
Middle East, India sits in a low-cost geographic zone (sun) for green H2 generation. Its upcoming
Giga factories along with their unmatched integration shall transform economics.
What is New Energy?
We refer to New Energy as the process of renewable energy (RE, primarily solar) generation,
including green hydrogen (H2). It encapsulates the entire ecosystem from photovoltaic
Rollout of New Energy (PV) solar module manufacturing, RE generation, battery storage, electrolysers (for green
shall have diverse sector H2 generation), and fuel cell manufacturing used in Fuel Cell Electric Vehicles (FCEVs),
implications ranging along with EPC solutions and low-cost green bond funding.
from re-rating and
growth acceleration to tank CEEW-CEF, India needs USD10.1tn in investments for net-zero emissions by 2070.
potential disruption
8 Edelweiss Securities Limited