- 29 Mar 2023
- ICICIdirect Research
Government allocates 39600 MW of solar cell, module capacity under PLI-II scheme
News: The government has allocated a total capacity of 39,600 MW of domestic solar PV module manufacturing capacity to 11 companies, with a total outlay of Rs 14,007 crore under the PLI scheme for high efficiency modules. Of these, 7400 MW of manufacturing capacity 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. It is expected to bring in an investment of Rs 93,041 crore. A total 15,400 MW capacity was awarded under tranche-II in the polysilicone, wafers, cells, and modules basket. Of this, 6,000 MW was awarded to Indosol, 6,000 MW to RIL and 3,400 MW to First Solar. Total 16, 800 MW of manufacturing capacity was awarded under the wafers, cells and modules basket. Under this, 6,000 MW was awarded to Waaree, 3,000 MW to Avaada, 4,800 MW to ReNew, 1,000 MW to JSW, and 2,000 MW to Grew. Under the cells and modules basket, 7,400 MW of total capacity has been awarded
Views: In order to achieve the governments vision of 300 GW of the renewable capacity, the tranche II PLI scheme is the step in right direction given by FY26, India would add 48 GW of incremental solar module and cell capacity, with most on an integrated and semi integrated basis and making renewable power sector less vulnerable to imports of equipments
Impact: Positive