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RIL, Tata Power among 12 firms to get ~Rs 14,000 crore solar module PLI

Mar 29, 2023

By: BlinkX Research Team

Renewable energy arms of Reliance Industries, Tata Power Company and JSW Energy are among the bidders for the selection of solar photovoltaic (PV) module manufacturers to set up manufacturing capacities under the government's Production Linked Incentive (PLI) Scheme (Tranche-II).

The Solar Energy Corporation of India (SECI), the scheme's nodal body has announced the winners on Tuesday who would receive a total of Rs 13,937.575 crore for setting up 39.6 gigatonnes (GW) under the PLI Scheme's second tranche.

The government has allocated a total capacity of 39,600 MW of domestic Solar PV (Photovoltaic) module manufacturing capacity to as many as 11 companies, including Reliance Industries, Tata Power Solar, Indosol, and First Solar, under the second tranche of the production-linked incentive (PLI) scheme. Other winners in the phase 2 solar PLI scheme are Vikram Solar, Waaree Energies, ReNew Solar, Avaada Ventures, JSW Renewable, Grew, and Ampin Solar.  

Notably, under Tranche-I of the Scheme, in November-December 2022, a total integrated capacity of 8737 MW was allocated by the government.

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 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.