The lowest bids for the government’s Rs 4,500 crore solar manufacturing production linked incentive (PLI) scheme were bidded by Jindal India Solar Energy, Shirdi Sai Electricals, Reliance New Energy, and Adani Infrastructure.
According to sources, Jindal India Solar bidding the lowest quote of Rs 1,390 crore. Shirdi Sai Electricals Ltd came in second with an offer of Rs 1,875 crore, followed by Reliance Industries’ renewables subsidiary with a bid of Rs 1,917 crore. With an offer of Rs 3,600 crore, Adani Industries came in fourth place. According to them, all four bidders want to merge polysilicon manufacture into modules with a capacity of 4,000 megawatts.
Polysilicon, wafers, cells, and modules are the four steps of module production. There is currently no polysilicon or wafer production capability in India’s existing 15 Gw production capacity.
“Our country is endowed with abundant natural resources as well as tremendous solar energy potential. It is past time for us to combine these natural riches with human resources to propel our country to new heights in terms of electricity generation. “More energy equals more economic progress,” said Sharat Chandra, chief executive officer of Shirdi Sai Electricals.
In total, 18 companies applied for the 10 Gw plan, with a total capacity of 54.8 Gw. First Solar India, for example, requested Rs 1,753 crore for integrated polysilicon to module manufacturing with a 3,000-MW capacity.
Coal India Ltd, Larsen & Toubro, ReNew Solar, Tata Power, Acme Solar, and Vikram Solar were among the thirteen companies that submitted bids for the fabrication of modules from wafers or cells.
In April, the Union Cabinet approved a Rs 4,500 crore production-linked scheme for the development of high-efficiency solar photovoltaic modules.
The incentives are estimated to add 10 gigawatts of high-efficiency integrated solar PV manufacturing capacity and Rs 17,200 crore indirect solar PV manufacturing investment.
Bidders were chosen under the plan based on three criteria: the degree of integration, proposed manufacturing capacity, and module performance efficiency.
PLI payments to the winning bidders will begin after one year of commissioning and will be made on an annual basis depending on sales, module efficiency, and local sourcing.
If the shortlisted bidders fail to meet the selection criteria’s obligations, no PLI will be awarded.
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