The government is planning to grow the country’s module-making capacity to 90 gigawatts. The financial assistance being part of the Prime Minister Narendra Modi’s plan to make the nation a manufacturing powerhouse, create jobs and reduce imports
India seeks takers for 2.4 billion in government aid. It is offering to stimulate domestic manufacturing of solar power equipment.
The state-run Solar Energy Corporation of India is looking for bids from solar manufacturers covering financial incentives worth 195 billion rupees, as per the documents published on the agency’s website.
The government is planning to grow the country’s module-making capacity to 90 gigawatts. This will be enough to meet its own requirements and serve export markets.
The multi-billionaire business tycoon Mukesh Ambani and Gautam Adani of Reliance Industries and Adani Group respectively, were the winners during previous round of solar manufacturing incentives. They are eligible to apply again for building additional capacity, revealed the bid documents show.
The financial assistance being part of the Prime Minister Narendra Modi’s plan to make the nation a manufacturing powerhouse, create jobs and reduce imports.
The aim on to produce locally also helps the country position itself as an alternative to China amid a global push in order to diversify supply chains in the rise of the pandemic.
With over 441 gigawatts of module capacity globally, Chinese companies hold control. Meanwhile Indian firms operate around 15 gigawatts, according to a media report.
The firms that commit to setting up fully integrated manufacturing units will be given priority from polysilicon to modules.
The latest grants follow an earlier 45 billion rupee offering for making modules. Shirdi Sai Electricals too won the assistance in that round, in addition to Reliance and Adani.