The Indian government on Tuesday unveiled a list of 11 companies to receive financial incentives for projects envisaging the installation of 39.6 GW of domestic manufacturing capacity for high efficiency photovoltaic (PV) modules in the country.
The funding will be allocated under the second tranche of the Indian government’s Production Linked Incentive (PLI) programme. The total amount to be disbursed stands at INR 140.07 billion (USD 1.7bn/EUR 1.57bn), with the proposed projects expected to bring investments of some INR 930.41 billion and open close to 101,500 jobs.
Around 7.4 GW of the planned manufacturing facilities are planned to become operational by October 2024, a further 16.8 GW of plants will go online by April 2025 and the remaining 15.4 GW will be put on stream by April 2026.
The Tranche II funding was awarded across three baskets based on the level of integration, with minimum integration of cells and modules required. The full list of winners is available in the table.
| Basket |
Name of bidder |
Manufacturing capacity (MW) |
| Polysilicon, ingot-wafers, solar cells and module (P+W+C+M) |
|
|
| |
Indosol |
6,000 |
| |
Reliance |
6,000 |
| |
First Solar |
3,400 |
| Ingot-wafers, solar cells and modules (W+C+M) |
|
|
| |
Waaree |
6,000 |
| |
Avaada |
3,000 |
| |
ReNew |
4,800 |
| |
JSW |
1,000 |
| |
Grew |
2,000 |
| Solar cells and modules (C+M) |
|
|
| |
Vikram |
2,400 |
| |
Ampin |
1,000 |
| |
Tata Power Solar |
4,000 |
First Solar (NASDAQ:FSLR) confirmed its award on Wednesday, saying that the incentives are subject to the facility meeting product efficiency and domestic value creation thresholds, to be evaluated on a quarterly basis from the second quarter of 2026 through 2031. The US thin-film solar module maker is building a factory in Tamil Nadu with an annual nameplate capacity of 3.3 GW DC to produce its Series 7 modules, optimised for the local market. The plant is due to be commissioned in the second half of 2023.
Tranche I of India's PLI programme allocated 8.7 GW of capacity at the end of 2022.
"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 next 3 years,” said Shri R K Singh, Minister for Power and New and Renewable Energy.
(INR 10 = USD 0.122/EUR 0.112)
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Solar module manufacturing lines. Image source: Tata Power Solar Systems Ltd
