Solar Energy Corp. India’s state-run agency is seeking bids from solar manufacturers for 195 billion rupees in financial incentives, according to documents published on the agency’s website. The government intends to increase the country’s module manufacturing capacity to 90 gigawatts, enough to meet its own needs and serve export markets.
Reliance Industries Ltd. and Adani Group, industrial giants run by billionaires Mukesh Ambani and Gautam Adani, winners of the previous round of solar manufacturing incentives and eligible to reapply for building more capacity, shown in the bid documents.
The financial aid is part of Prime Minister Narendra Modi’s plan to turn the country into a manufacturing powerhouse, creating jobs and reducing imports. The focus on local production will also help India position itself as an alternative to China amid a global push to diversify supply chains after the pandemic.
Chinese companies control more than 441 gigawatts of module capacity worldwide, while Indian companies operate about 15 gigawatts, according to BloombergNEF data.
Priority will be given to companies committed to setting up fully integrated manufacturing units, from polysilicon to modules, according to Seci. The agency has set a pre-bid meeting with potential investors on December 6 and bids can be submitted online on January 9.
The latest grants follow an earlier 45 billion rupee offering for building modules. In addition to Reliance and Adani, Shirdi Sai Electricals also won aid in that round.
