homeenergy NewsPLI scheme for solar PV modules to increase focus on cell, module manufacturing, says Axis Capital
PLI scheme for solar PV modules to increase focus on cell, module manufacturing, says Axis Capital
Around Rs 19,500 crore has been allocated for the second tranche of the Solar PV modules. The second part of the PLI for solar PV modules aims to increase the production of low-cost solar energy. Companies will have to meet minimum performance criteria, sources told CNBC-TV18.
The Union Cabinet on Wednesday approved changes in the production-linked incentive (PLI) scheme and approved the second tranche of solar power PV modules.
Around Rs 19,500 crore has been allocated for the second tranche of the Solar PV modules. The second part of the PLI for solar PV modules aims to increase the production of low-cost solar energy. Companies will have to meet minimum performance criteria, sources told CNBC-TV18.
“The frontline beneficiaries for fully integrated manufacturing would once again be Reliance New Energy, Adani Group and First Solar,” said Sumit Kishore, Executive Director-Capital Goods, Power and Infrastructure, Axis Capital while assessing the impact.
“The maximum crowding for PLI benefits is likely for setting up cell and module capacities only, which is an allocation of Rs 30 billion. There the frontline beneficiaries include Tata Power, Waree Energies and Vikram Solar among others,” he added.
After the approval, brownfield companies can utilise the scheme for setting up new projects. The highest incentive will be for the first year, aiming to make the solar industry competitive in five years.
He believes the entire ecosystem will be benefited. “It includes solar EPC players like Sterling and Wilson, Borosil Renewables but the direct beneficiaries would be the ones manufacturing the polysilicon, wafer, cell and module,” he said.
For the full interview, watch the accompanying video
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