IREDA announces winning bidders list for solar module manufacturing

The Indian Renewable Energy Development Agency (IREDA) has declared the list of successful bidders for installing production capacities for a minimum of 10 GW of vertically-integrated high-efficiency solar modules under the production-linked incentive (PLI) program. IREDA has declared PLI totalling Rs 44.50 billion for an overall capacity of 10,483 MW. Shirdi Sai Electricals was granted a PLI of Rs 18.75 billion, and Jindal India Solar Energy a PLI of Rs 13.90 billion, for a capacity of 4 GW each. Reliance New Energy Solar was granted a PLI of Rs 11.90 billion for a 2,483 MW capacity. The PLI granted to the firms is the total maximum value that can be granted to the firms yearly (considering multiple factors). The production capacity and PLI were allotted to the qualified applicants according to the bucket filling mechanism considering the overall PLI limit of Rs 45 billion and the PLI asked by the bidders. Last month, IREDA had declared the list of 16 bidders who were shortlisted and the respective PLI requested by them. In May 2021, IREDA had floated tenders to install 10 GW of high-efficiency solar module production capacities. The proposal followed the Union Cabinet’s permission to execute the PLI program to attain gigawatt-scale solar module production capacity with an outlay of Rs 45 billion. Later, IREDA amended several conditions in the request for selection (RfS) declared for the proposal. The bid had received a strong reply from the bidders and was oversubscribed by 5.48 times. The bidders had valued a total capacity of 54.8 GW for ingot-wafer, polysilicon, cell, and module production. The interested party must guarantee that the production capacities attain the minimum level of integration of cells and modules, reach the minimum production capacity needs, and follow the minimum threshold performance parameters of module efficiency according to the program guidelines. Unless authorised by the Ministry of New and Renewable Energy (MNRE), the successful bidder will not be permitted to invest in, merge with, or procure projects of other successful applicants who have been granted the incentive under this program until this program’s applicability (five years from the registered date of commissioning). In November 2020, the central government passed the PLI plan in ten critical sectors to improve India’s production capabilities and exports under the Atmanirbhar Bharat initiative. The government had said that it would allot Rs 1.45 trillion for the ten crucial sectors over the coming five years. These crucial sectors incorporate advanced chemistry cell batteries, high-efficiency solar PV modules, and automobiles and auto elements. Image Source Also read: NTPC bags IREDA’s 1.9 GW solar power project contract under