Adani, Tata Power, ReNew to benefit: Solar PLI outlay to be hiked to Rs 19,500 crore

As many as 15 companies including public-sector Coal India, Adani Infrastructure, Larsen and Toubro, ReNew Solar, Tata Power Solar, Waaree Energies, Vikram Solar, Megha Engineering & Infrastructures and FS India Solar Ventures will likely get incentives offered under the production-linked incentive scheme for solar manufacturing, as scope of the scheme is set to widen.

At an inter-ministerial meeting held recently, the department from promotion of industrial trade (DPIIT) is learnt to have endorsed the recommendation of the ministry of new and renewable energy (MNRE) to raise the allocation of the scheme to Rs 19,500 crore, from Rs 4,500 crore approved initially.

According to sources, the meeting — chaired by NITI Aayog CEO Amitabh Kant and attended by DPIIT secretary Anurag Jain and MNRE secretary Indu Shekhar Chaturvedi, was convened to decide on how as much as Rs 30,984 crore savings from auto and auto component PLI schemes could be utilised. The government had reduced the outlay for auto sector PLI scheme to Rs 26,058 crore from Rs 57,043 crore earmarked initially.

Both MNRE and the ministry of electronics and information technology (MeitY) had sought additional funding for the PLI schemes under their respective ministries, over and above their initial outlays.

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