Under the national government's Rs. 4,500 crore Production Linked Incentive (PLI) program, the Indian Renewable Energy Development Agency Ltd. (IREDA), has requested proposals from solar module manufacturers to set up solar manufacturing units.
Solar capacity expansion is currently reliant on imported solar PV cells and modules due to the domestic industry's low capability to produce solar PV cells and modules.
The National Program on High-Efficiency Solar PV Modules will minimize import dependence in a vital area such as power, hence bolstering the Atmanirbhar Bharat goal.
IREDA has been named as the scheme's implementing agency by MNRE. The Union Cabinet had already approved an Rs. 4,500 crore program to enhance domestic solar photovoltaic ( PV) module manufacture.
What is PLI Scheme?
Apart from focusing on reducing import expenses and boosting the cost competitiveness of local goods, the program provides incentives to enterprises for strengthening their domestic manufacturing. The PLI plan provides incentives for additional sales of products made in India.
Details of Solar PLI Scheme Bids
The deadline for submitting an application is June 30th. The successful bidders' selection process must be completed by July 30th. On the 25th of May, IREDA posted the call for an application document on its website, and the electronic application procedure began on the 31st of May.
- For the whole capacity provided under the plan, the applicants must establish either a brownfield or greenfield manufacturing facility.
- Under the plan, applicants are not permitted to build a facility that is a combination of brownfield and greenfield.
- Manufacturing capacity/units for which needed capital items were imported prior to the bid deadline will be ineligible to participate in this PLI scheme.
- The manufacturing unit to be installed must have a minimum capacity of 1,000 Megawatt.
- The PLI will be paid out to the selected applicants once a year for the next five years.