Indosol, Reliance win production-linked incentives for poly-to-module manufacturing

The Indian government has allocated a cumulative 39.6 GW of domestic solar module manufacturing capacity, with a total outlay of INR 14,007 crore ($1,705 million), under the second round of the production-linked incentive (PLI) scheme. In all, eleven companies emerged winners for the incentives. 

Indosol and Reliance won incentives for their poly-to-module manufacturing capacity of 6 GW each. First Solar also won incentives for its fully vertically integrated facility of 3.4 GW. The cumulative 15.4 GW of fully integrated manufacturing capacity is likely to become operational by April 2026.

Waaree (6 GW), ReNew (4.8 GW), Avaada (3 GW), Grew (2 GW), and JSW (1 GW) won incentives for their module manufacturing capacities integrated up to the wafer stage. The cumulative wafer-to-module capacity of 16.8 GW will likely start production by April 2025.

Tata Power Solar (4 GW), Vikram Solar (2.4 GW), and AMPIN (1 GW) will set up integrated cell and module capacities totaling 7.4 GW. Production from these facilities is expected to start by October 2024.

“The Tranche-II of the PLI Scheme is expected to bring in an investment of INR 93,041 crore. It will also generate a total of 1,01,487 jobs with 35,010 getting direct employment and 66,477 being indirectly employed,” read the power ministry release.

A total integrated capacity of 8,737 MW was allocated under the first round of the PLI Scheme. Considering the two tranches together, the total domestic solar PV module manufacturing capacity allocated under the PLI Scheme is 48,337 MW, with cumulative support of more than INR 18,500 crore by the government.

“The PLI scheme will give a much-needed impetus to India’s solar module manufacturing sector. With the allocation of 3 GW by MNRE, Avaada Group will play a pivotal role in India’s green energy transition. This initiative will foster energy security, economic growth, and a cleaner environment. The participation of leading solar module manufacturers showcases the enormous potential of the PLI scheme in revolutionizing India’s renewable energy landscape,” said Vineet Mittal, chairman of Avaada Group.