The government has allocated 39,600 MW of solar module manufacturing capacity to 11 companies under the second tranche of the Production Linked Incentive (PLI) Scheme. The Solar Energy Corporation of India (SECI) has announced that the winners will receive an incentive of ₹14,007 crore for solar equipment manufacturing.
Out of the 39.6 GW, 7.4 GW capacity is expected to become operational by October 2024, 16.8 GW by April 2025 and the remaining 15.4 GW by April 2026. As per the official press release, tranche II is expected to generate an investment of ₹93,041 crore.
“The PLI scheme has proved to be a watershed event in India’s renewable landscape resulting in about 48 GW domestic module manufacturing capacity within the next three years,” stated R K Singh, Power and renewable energy minister.
Incentives were awarded in 3 separate categories:
- Under the Polysilicon, wafers, cells, and modules basket, a total of 15.4 GW capacity was awarded.
- Under the wafers, cells, and modules basket, 16.8 GW capacity was awarded.
- Under the cells and modules basket, 7.4 GW capacity was awarded
The companies that will be receiving the incentives are Reliance, Indosol, First Solar, Waaree Energy, Avaada, ReNew, JSW, Grew, AMPIN, Vikram Solar, and Tata Power Solar.
The Indian government approved a ₹19,500 crore PLI scheme in September 2022 to create a manufacturing ecosystem for high-efficiency solar modules in the country and reduce import dependence. Under both the first and second tranches, a total of 48.3 GW capacity has been allocated till now.
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Resource: ET Energy
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