Adani Group, RIL and 17 other companies bid for making solar modules

As many as 19 companies, including Reliance Industries Limited (RIL), Adani Group and First Solar, have bid for setting up solar manufacturing units under the production linked incentive (PLI) scheme of the government.

RIL, Adani, First Solar, Shirdi Sai and Jindal Poly have bid for manufacturing polysilicon, wafer, solar cells and modules. Coal India Limited (CIL), ReNew Energy Global Plc, CubicPV and Larsen and Toubro (L&T) have bid for manufacturing wafers, solar cells and modules.

Avaada Energy Private Limited, Megha Engineering and Infrastructure Limited (MEIL), Vikram Solar, Tata Power, Acme Solar, Premier Energies, Waaree Energies, Emmvee Group and Jupiter Solar have also bid for solar cells and modules manufacturing.

In 2020, the PLI scheme was unveiled, which sought to create global manufacturers in India by eliminating sectoral disabilities and creating an economy for complete development in India. In February, PM Narendra Modi invited global firms to gain benefit from the Rs 1.97 trillion PLI scheme from 13 sectors and expand their manufacturing network in the country.

Polysilicon manufacturing received bids for 19 GW, while wafers and solar cells and modules received bds of 32 GW and 54.80 GW, respectively. According to the report, the domestic solar equipment manufacturing plan gained traction with 15 firms with total investments of nearly $3 billion.

The government's PLI scheme worth Rs 4,500 crore for solar photovoltaic modules will help the country to boost its domestic manufacturing unit. It aims to install 10 GW integrated solar PV manufacturing capacity and bring in a direct investment of Rs 17,200 crore. With India's growing market for green energy to boost manufacturing, it also plans to play a big role in the global supply chain.

Indian Renewable Energy Development Agency (IREDA) has called the bids. The minimum capacity of the manufacturing unit should be 1 GW with the PLI scheme to be distributed to successful bidders after its completion of five years.

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