Crisil expects India’s domestic solar cell supply to rise to about half of demand by fiscal 2026–27, driven by localization policies and capacity expansion, but warns that rapid buildout could pressure utilization and returns.

India’s solar capacity is set to surge by 22% each year by 2035 as the data center boom will drive increased power consumption, a new report by Nuvama showed on Monday.

Vikram Solar is advancing the first phase of its planned 12 GW solar cell manufacturing facility and expects to commission 9 GW of cell production capacity by the third quarter of…