Tata and Reliance vie for India's $2.4 billion solar incentives

09 Mar 2023 CW Team

People familiar with the situation, who requested anonymity because the information has not been made public, say that Indian companies JSW Energy Ltd., Avaada Group, and ReNew Energy Global Plc, as well as the U.S. company First Solar Inc., are also showing interest. According to the individuals, none of the bidders included the troubled Adani Group, one of the largest manufacturers of solar panels in the nation.

The financial support is part of Prime Minister Narendra Modi's plan to transform the country into a manufacturing powerhouse, resulting in the creation of more jobs and a reduction in imports that can deplete foreign exchange reserves. In light of a worldwide push to diversify supply chains following the pandemic, his "Make in India" campaign aims to promote India as an alternative to China.

To increase the nation's module-making capacity to as much as 90 gigawatts, which would be sufficient to satisfy its own needs and serve export markets, the government is providing grants. However, there are concerns that India's transition goals are being undermined by the focus on domestic manufacturing, which is slowing down renewable power projects. In an effort to speed up projects, Power Minister Raj Kumar Singh stated last month that his department is considering temporarily "relaxing" a significant obstacle to module imports.

JSW Energy, Avaada Group, and Reliance representatives declined to comment. Adani, Tata Power, ReNew, and First Solar, as well as the renewables ministry, did not immediately respond to emailed requests for comment. After being extended multiple times, the state-run Solar Energy Corp.'s bids ended on February 28. Projects and incentives are still under wraps.

Reliance Industries Ltd. and Tata Power Co., two manufacturers of solar modules, are among the bidders for 195 billion rupees (2.4 billion USD) in financial incentives that India is offering to increase domestic manufacturing and reduce panel imports from China's dominant producer. People familiar with the situation, who requested anonymity because the information has not been made public, say that Indian companies JSW Energy Ltd., Avaada Group, and ReNew Energy Global Plc, as well as the U.S. company First Solar Inc., are also showing interest. According to the individuals, none of the bidders included the troubled Adani Group, one of the largest manufacturers of solar panels in the nation. The financial support is part of Prime Minister Narendra Modi's plan to transform the country into a manufacturing powerhouse, resulting in the creation of more jobs and a reduction in imports that can deplete foreign exchange reserves. In light of a worldwide push to diversify supply chains following the pandemic, his Make in India campaign aims to promote India as an alternative to China. To increase the nation's module-making capacity to as much as 90 gigawatts, which would be sufficient to satisfy its own needs and serve export markets, the government is providing grants. However, there are concerns that India's transition goals are being undermined by the focus on domestic manufacturing, which is slowing down renewable power projects. In an effort to speed up projects, Power Minister Raj Kumar Singh stated last month that his department is considering temporarily relaxing a significant obstacle to module imports. JSW Energy, Avaada Group, and Reliance representatives declined to comment. Adani, Tata Power, ReNew, and First Solar, as well as the renewables ministry, did not immediately respond to emailed requests for comment. After being extended multiple times, the state-run Solar Energy Corp.'s bids ended on February 28. Projects and incentives are still under wraps.

Real Estate

14 Aug 2025

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Real Estate

14 Aug 2025

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Real Estate

14 Aug 2025

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Tata and Reliance vie for India's $2.4 billion solar incentives

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

SIEGER Boosts Automation in Mumbai Realty

Latest Updates

Recommended for you

Advertisement

Subscribe to Our Newsletter

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address

15th RAHSTA EXPO 2025

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address