Green power arms of Reliance Industries Ltd, Tata Power Company Ltd, and JSW Energy Ltd are among the winners for the setting up of solar photovoltaic (PV) module manufacturing capacities under the government’s Production Linked Incentive (PLI) Scheme (Tranche-II).
The Solar Energy Corporation of India (SECI), which is the nodal agency for the scheme, announced the winners on March 28 who would receive a total of Rs 13,937.575 crore for setting up 39.6 gigawatts (GW) under the second tranche of the PLI Scheme.
On September 21, the Union Cabinet had approved the second tranche of the PLI scheme for the development of solar PV modules, with an outlay of Rs 19,500 crore. This tranche of the incentive aims to support setting up of 65GW per annum manufacturing capacity of fully and partially integrated solar PV modules.
Union Minister for Power and New and Renewable Energy RK Singh said, “The PLI scheme has proved to be a watershed event in India's renewable landscape resulting in around 48 GW domestic module manufacturing capacity within the next three years. The scheme has boosted the government's efforts to reduce not only the impact of global supply chain shocks but also our import dependence adhering to the Hon'ble Prime Minister's vision of an Aatmanirbhar Bharat.”
The ministry said that a manufacturing capacity totalling 7,400 MW is expected to become operational by October 2024, followed by another 16,800 MW capacity by April 2025, and the remaining 15,400 MW capacity by April 2026. The Tranche-II of the PLI Scheme is expected to bring in an investment of Rs 93,041 crore. It will also generate a total of 1,01,487 jobs with 35,010 getting direct employment and 66,477 being indirectly employed.
A total integrated capacity of 8,737 MW was allocated under Tranche-I of the Scheme, in November-December, 2022. Considering the two tranches together, the total domestic solar PV module manufacturing capacity allocated under the PLI Scheme is 48,337 MW, with a cumulative support of more than Rs. 18,500 crore by the government.
SECI had invited online bids for the selection of solar PV module manufacturers who could bid under three baskets– Polysilicon-ingots-wafers-cells-modules (PWCM), ingots-wafers-cells-module (WCM), and cells-modules (CM).
In the PWCM basket, Indosol Solar Private Limited will be allocated PLI amount of Rs 3,300 crore, Reliance New Solar Energy Limited will be allocated Rs 3098.04 crore, and India Solar Ventures Private Limited will get Rs 1,177.573.
These three companies are setting up a capacity of 15,400 MW of which the PLI-eligible capacity will be 7,700 MW.
In the WCM basket, the PLI amount will be allocated to Waaree Energies Limited (Rs 1,923.24 crore), Avaada Ventures Private Limited (Rs 961.62 crore), ReNew Solar (Shakti Four) Private Limited (Rs 1,538.592 crore), JSW Renewable Technologies Limited (Rs 320.54 crore), and Grew Energy Private Ltd (Rs 566.71 crore.
These companies will set up a total capacity of 16,800 MW, half of which is eligible for PLI.
In the CM basket, the PLI amount will be allocated to Vikram Solar Limited (Rs 528.54 crore), AMPIN Solar One Private Limited (Rs 139.72 crore), and Tata Power Solar Limited (Rs 383 crore). These companies are setting up a total of 7,400 MW, of which half of the capacity is eligible for PLI.
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