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.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

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

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Infrastructure Transport

05 Sep 2025

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Infrastructure Transport

05 Sep 2025

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..