Government to enhance funding under PLI for solar manufacturing to Rs 240 billion

The government plans to soon enhance the funding under the production linked incentive (PLI) scheme for the domestic solar cells and module manufacturing to Rs 240 billion from the existing Rs 45 billion, to make India an exporting nation.

Under the scheme, the government received bids for manufacturing 54,500 MW of solar equipment and therefore, an additional amount of Rs 190 billion is now likely to be sanctioned. Recently, the Indian Renewable Energy Development Agency (IREDA) released the list of winning bidders for putting up manufacturing capabilities for a minimum of 10 GW of vertically-integrated high-efficiency solar modules under the scheme. The PLI of Rs 44.50 billion has been announced by IREDA for a total capacity of 10,483 MW. For a capacity of 4 GW each, Jindal India Solar Energy was given a PLI of Rs 13.90 billion and Shirdi Sai Electricals was awarded a PLI of Rs 18.75 billion. For a capacity of 2,483 MW, Reliance New Energy Solar was awarded a PLI of Rs 11.90 billion.

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