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4 companies selected as lowest bidders for solar manufacturing PLI scheme, say sources

Jindal India Solar, Shirdi Sai Electricals, Reliance & Adani Infrastructure have emerged as the lowest bidders for the PLI scheme for solar PV manufacturing, say sources
4 companies selected as lowest bidders for solar manufacturing PLI scheme, say sources
4 companies selected as lowest bidders for solar manufacturing PLI scheme, say sources
  • The four successful bidders have proposed to set up manufacturing facilities for solar PV modules of 4,000 MW capacity, said sources
  • The PLI will be disbursed to the successful applicants annually for a period of five years

New Delhi: Jindal India Solar Energy, Shirdi Sai Electricals, Reliance New Energy Solar Ltd, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd (RIL) and Adani Infrastructure have emerged as the lowest bidders for the Rs 4,500-crore production-liked incentive (PLI) scheme for solar PV manufacturing, sources told PSU Watch on Monday. The tender for the PLI scheme had been floated by Indian Renewable Energy Development Agency (IREDA) on June 11 this year.

According to sources, Jindal Solar India emerged as the lowest (L1) bidder as it quoted Rs 1,390 crore incentive followed by Shirdi Sai Electricals, which sought an incentive of Rs 1,875 crore. Reliance New Energy was the L3 bidder with a quote of Rs 1,917 crore, while Adani Infrastructure was the fourth lowest bidder with a quote of Rs 3,600 crore. State-run Coal India Ltd (CIL) had also submitted a bid for the PLI scheme. 

The four successful bidders have proposed to set up manufacturing facilities for solar PV modules of 4,000 MW capacity, said sources.

Solar manufacturing: PLI to be disbursed for 5 years

While inviting bids for the solar manufacturing PLI scheme, IREDA had said, “The applicants are required to set up either a brownfield or greenfield manufacturing facility for the entire capacity allotted under the scheme. Applicants are not allowed to set up a mix of brownfield and greenfield facility under the scheme. The manufacturing capacity/unit, for which required capital goods have been imported before the last date of bid submission, will not be eligible for participation under this PLI scheme. The minimum capacity of the manufacturing unit to be installed shall be 1,000 Megawatt. The PLI will be disbursed to the successful applicants annually for a period of five years.”

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The PLI scheme is aimed at boosting India’s domestic solar PV manufacturing capacity in line with the Atmanirbhar Bharat Abhiyan. Currently, India imports 80 percent of its solar gear from China.

Background

The Cabinet had approved the Rs 4,500-crore PLI scheme for solar manufacturing in April this year. “The PLI scheme is expected to add an additional 10,000 MW capacity of integrated solar PV manufacturing plants and bring direct investment of around Rs 17,200 crore in solar PV manufacturing projects,” the Ministry of New and Renewable Energy (MNRE) had said at the time.

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