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New solar PLI Scheme to cap bidding capacity at 10 GW

Friday, 11 Mar 2022

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The new round of the production linked incentive (PLI) scheme for solar manufacturing will see changed methodology and would be open to past winners with a cap on bidding amount.

However, the capacity will be capped to 10 GW. The minimum Local Value Addition (LVA) or use of local content for the participating manufacturers has been kept at 90 percent.

The PLI guidelines have been modified after the Ministry of New and Renewable Energy (MNRE) received close to 50 GW of bids against a PLI sanction of Rs 4,500 crore. The corpus was increased to Rs 19,500 crore under the Union Budget 2022-23.

In the first round, the Centre received close to 18 bids from a range of companies - Coal India, L&T, Vikram Solar, Megha Engineering and several new companies. Against an RfP of 10 GW, bids received touched 50 GW.

The winners were Reliance New Energy Solar - the green energy division Reliance Industries, Adani Infrastructure and Shirdi Sai. Of this, Shirdi Sai was reported to have received the LoA from Indian Renewable Energy Development Agency (IREDA), the executing body for the PLI scheme.