IREDA Invites Bids for Solar PLI Scheme

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The Indian Renewable Energy Development Agency (IREDA) has Invitation for Application For Selection of Manufacturers for Setting up Manufacturing Capacities for High Efficiency Solar PV Modules under the Production Linked Incentive scheme.

The interested manufacturers ready to set up any solar production facilities will be eligible for applying for the incentive under the programme.

However, the manufacturer has to ensure that the installed capacities achieve the minimum level of integration of cells and modules, meet the minimum manufacturing capacity requirements, and follow the minimum threshold performance parameters of module efficiency as per the programme guidelines.

The last date to submit the bids is June 30, 2021, and bids will be opened on July 1.

Applicants, selected by IREDA based on this Application, shall submit Performance Bank Guarantee (PBG) as per the manufacturing capacity allocated after evaluation process on per MW basis as per the below table. It may be noted that successful Applicants shall submit the Performance Bank Guarantee from any of the Scheduled Commercial Banks approved by RBI from time to time as per Annexure 3 within 15 days from the date of issue of LoA to the Applicant by IREDA. Additionally, the PBG shall have validity till the period ending one year from the date of scheduled commissioning of the manufacturing unit.

Rs 45,000/megawatt (MW) for cell and module manufacturing capacity, Rs 70,000/MW for ingot-wafer, cell, and module manufacturing capacity, and Rs 110,000/MW for polysilicon, ingot-wafer, cell, and module manufacturing capacity.

The bidder’s net worth for cell and module manufacturing capacity at the time of application (minimum value to be established) should be Rs 850 million/ gigawatt (GW), and it should be Rs 2.35 billion/GW (to be established mandatorily) within 90 days from the issuance of the letter of award.

To participate in the bidding process, the bidder may form a special purpose vehicle (SPV) for setting up the manufacturing facility once the letter of award is issued by IREDA. However, such an SPV should be formed within 90 days from when the letter of award is issued. In the case of a delay of more than 90 days, the letter of award will be withdrawn and allocated to other entities on the waiting list.

If the bidder fails to form an SPV as per the Indian Companies Act, 2013, and establish the net worth as prescribed, the entire amount of the performance bank guarantee can be encashed.

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