Home Energy IREDA Floats 45K Cr Solar Bid

IREDA Floats 45K Cr Solar Bid

New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA), a PSU under the Ministry of New & Renewable Energy (MNRE) has invited bids from solar module manufacturers for setting up solar manufacturing units under the Central Government’ Rs. 4,500 crore Production Linked Incentive (PLI) scheme, said sources Pradip Kumar Das, CMD IREDA.

MNRE has appointed IREDA as the implementing agency for the scheme. The Union Cabinet had earlier approved Rs. 4,500 crore scheme to boost domestic manufacturing of solar Photo Voltaic ( PV) modules.

The last date for submitting application is 30th June. The selection process for the successful bidders is to be completed by 30 July. IREDA had floated the invitation for application document on 25 May on its website and the electronic application process went live on 31 May.

The applicants are required to set-up either brownfield or greenfield manufacturing facility for the entire capacity allotted under the scheme. Applicants are not allowed to set-up mix of brownfield and greenfield facility under the scheme.

Manufacturing capacity/unit, for which required capital goods have been imported before the last date of bid submission, will not be eligible for participation under this PLI scheme. The minimum capacity of the manufacturing unit to be installed shall be 1,000 Megawatt. The PLI will be disbursed to the successful applicants annually for a period of five years.

Solar capacity addition presently depends largely upon imported solar PV cells and modules as the domestic industry has limited operational capacities of solar PV cells and modules.

The National Program on High Efficiency Solar PV Modules will reduce import dependence in a strategic sector like electricity and as such reinforce the Atmanirbhar Bharat initiative.