RIL shows interest in govt’s subsidy program for solar sector

14 Jul 2021 CW Team

Sources revealed that the firm attended a pre-bid meeting in June to discuss the subsidy programme.

Last month, Reliance announced plans to build factories to -- manufacture solar components, energy storage batteries, electrolysers for producing green hydrogen, and fuel cells.

To help revive a pandemic-stricken economy and reduce reliance on imports, the central government has announced financial incentives for manufacturing in a variety of sectors, including solar energy and batteries.

Breaking ties with China, the largest trading partner of India and the source of nearly 80% of the country's solar modules, has boosted the push for independence.

Coal India Ltd (CIL), a state-owned coal mining and refining company, is also considering submitting bids for subsidies to manufacturing solar equipment.

India plans to nearly increase its renewable energy capacity to 450 GW by 2030, to reduce the dependence on fossil fuels, which currently power its economy.

Solar power will account for roughly 62% of the 2030 target, implying that the country will need to instal nearly 26 GW of capacity each year for the following nine years.

Currently, the country can only meet about half of the demand for modules. The government is providing Rs 4,500 crore to companies that are establishing solar manufacturing facilities.

According to ministry documents, proposals like the one unveiled last month by Reliance to manufacture the entire chain of products from raw material polysilicon to finished modules would be given preferential treatment.

Image Source

Also read: Reliance eyes acquisition of Norway solar module maker REC

Also read: Govt gives 75-day extension to renewable projects under construction

Mukesh Ambani, the owner of the multinational conglomerate Reliance Industries Ltd (RIL), is mulling a bid for Indian government incentives for solar power manufacture as part of the fossil-fuels giant's 10 billion dollars drive into sustainable energy. Sources revealed that the firm attended a pre-bid meeting in June to discuss the subsidy programme. Last month, Reliance announced plans to build factories to -- manufacture solar components, energy storage batteries, electrolysers for producing green hydrogen, and fuel cells. To help revive a pandemic-stricken economy and reduce reliance on imports, the central government has announced financial incentives for manufacturing in a variety of sectors, including solar energy and batteries. Breaking ties with China, the largest trading partner of India and the source of nearly 80% of the country's solar modules, has boosted the push for independence. Coal India Ltd (CIL), a state-owned coal mining and refining company, is also considering submitting bids for subsidies to manufacturing solar equipment. India plans to nearly increase its renewable energy capacity to 450 GW by 2030, to reduce the dependence on fossil fuels, which currently power its economy. Solar power will account for roughly 62% of the 2030 target, implying that the country will need to instal nearly 26 GW of capacity each year for the following nine years. Currently, the country can only meet about half of the demand for modules. The government is providing Rs 4,500 crore to companies that are establishing solar manufacturing facilities. According to ministry documents, proposals like the one unveiled last month by Reliance to manufacture the entire chain of products from raw material polysilicon to finished modules would be given preferential treatment. Image Source Also read: Reliance eyes acquisition of Norway solar module maker REC Also read: Govt gives 75-day extension to renewable projects under construction

Infrastructure Urban

18 Sep 2025

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

State Bank of India (SBI) has completed the sale of a 13.18 per cent stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for over Rs 8,889 crore. The divestment is part of a Rs 13,482 crore deal finalised in May with SMBC and seven private banks.Following the transaction, SBI’s shareholding in Yes Bank stands at 10.8 per cent. The deal, involving 4,134.4 million shares at Rs 21.50 each, is the largest cross-border transaction in the Indian banking sector.SBI Chairman C S Setty described the 2020 RBI-led rescue of Yes Bank as a pioneering public-private partnership, addi..

Infrastructure Transport

18 Sep 2025

Thales Signs 11-Year Avionics Support Deal with IndiGo

French technology group Thales has signed an 11-year avionics maintenance support contract with IndiGo, India’s largest airline, for its Airbus A320 family fleet. The deal extends to over 1,200 aircraft, including the 800-plus planes scheduled for future delivery.The agreement includes Thales’ ‘By the Hour’ and ‘Repair by the Hour’ programmes, with repairs to be carried out at its maintenance facility in Gurugram. Additionally, IndiGo has extended by five years its deal with AvioBook, a Thales subsidiary, for Electronic Flight Bag solutions.The paperless AvioBook Flight system, alr..

Infrastructure Urban

18 Sep 2025

US Tariffs Threaten 8% of India’s Auto Component Output

High US tariffs are likely to impact nearly 8 per cent of India’s total auto component production, ratings firm ICRA has cautioned. The move follows Washington’s decision to impose 50 per cent duties on Indian goods, placing exporters at a clear disadvantage compared to competitors in Asia.China, Japan, Vietnam and Indonesia face lower tariffs in the 15–30 per cent range, while Mexico and Canada enjoy exemptions under the USMCA agreement. Analysts stress the urgency of an India-US trade agreement to safeguard the sector.Exports of Indian auto components to the US have risen consistently,..