AS MANY AS 11 companies, including Reliance, ReNew, Indosol, First Solar, Tata Power Solar and Avaada have bagged solar photovoltaic (PV) manufacturing projects of a total 39,600 MW capacity under the second tranche of the production-linked incentive (PLI) scheme for the solar sector, the Union power ministry said on Tuesday.
The tranche II, which entails a budget outlay of â¹14,007 crore, is estimated to generate investments worth â¹93,401 crore and over 100,000 jobs, 35% of which would be direct employment, the ministry said.
Manufacturing capacity totalling 7,400 MW is expected to become operational by October 2024, 16,800 MW capacity by April 2025 and the balance 15,400 MW capacity by April 2026.
The good response to the tenders is expected to give a fillip to India's efforts to build a globally competitive domestic manufacturing base for solar PV cells and modules.
It would cut import dependence for these products in a big way. India has set an ambitious plan to have a solar capacity of 280 gigawatt (GW) by 2030. The PLI scheme is also in keeping with India's commitment to reduce carbon intensity of the economy.
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