Centre’s solar modules manufacturing production linked incentive scheme will benefit incremental panels demand till FY30 said India Ratings and Research (Ind-Ra).
According to the ratings agency’s estimates, the allocation of Rs 45 billion towards modules manufacturing by the Ministry of New and Renewable Energy (MNRE) can benefit the sales of 20GW from the capacity developed under the PLI scheme.
“It also means sanction of the PLI facility which will benefit 4-6GW of sales annually over five years from commissioning of the beneficiary manufacturing facilities,” the agency said in a report.
“The scheme can facilitate additional 8-12GW annual solar cell or module manufacturing capacity in India. Sales up to 50 per cent of the manufacturing capacity set up by the winning bidder will benefit from PLI. This estimate assumes the base PLI rate of Rs 2.25 per watt power and entirely greenfield expansion.”
Besides, the report said the capacity to benefit under the scheme may further reduce from the stated 20GW level in case of the plants achieve better module efficiency and temperature coefficient than the minimum requirement defined in the notification.