As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group have shown interest for setting up solar manufacturing units under a production linked incentive scheme of the government, according to government officials aware of the development.
In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
PLI schemes, seek to create global manufacturers in India by removing sectoral disabilities and creating economies of scale to develop complete component eco-systems in India. Prime Minister Narendra Modi in February invited global firms to take advantage of the PLI schemes for 13 sectors and expand their manufacturing in India.
“RIL, Adani Group, First Solar, Shirdi Sai and Jindal Poly have applied under the scheme for manufacturing polysilicon (stage-I), wafer (stage-II) and cells and modules (stage-III & IV). L&T, Coal India Ltd (CIL), ReNew and Cubic have bid for Stage II, III and IV,” the source told PTI.
The source also said nine other firms namely Acme, Avaada, Megha Engineering, Vikram Solar, Tata, Waaree, Premier, Emmvee and Jupiter have evinced interest for stage III and IV (cell, modules).
The scheme along with leveraging its growing green energy market to boost manufacturing, India is also looking to play a larger role in global supply chains.