The government’s INR 4500-crore production-linked incentives scheme to provision gigawatt-scale manufacturing of high-efficiency solar modules concluded with at least four players emerging as beneficiaries.
Jindal India Solar Energy, owned by Jindal Polyfilms, made the most competitive bid by
looking for the least production-linked incentive (PLI) support for 4 GW of fully cohesive module manufacturing setup. It quoted PLI bid of INR 1,390 crore, as per NSEFI data.
Shirdi Sai Electricals (INR 1,875 crore), Reliance New Energy Solar (INR 1,917 crore) and Adani Infrastructure (INR 3,600 crore) appeared as the other competitive bidders, taking into account their PLI bid, level of integration, and intended manufacturing capacity.
All the four players sought incentives for a maximum capacity of 4 GW each, offering full extent of integration up to polysilicon manufacturing.
Nevertheless, as per the PLI Scheme document, the maximum incentive to a single manufacturer will be tied to 2 GW of its annual production capacity or half of the strategic output of its facility, whichever is lower. That cap appears to make all the four players (Jindal India Solar, Shirdi Sai Electricals, Reliance and Adani) incentive beneficiaries for 2 GW each as their cumulative incentives in that case aggregate to INR 4,391 crore.
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