03/23/2023 | Press release | Distributed by Public on 03/23/2023 04:52
Centre for Energy Finance of the Council on Energy, Environment and Water, i.e. CEEW-CEF, in its report of May 2022 titled 'Making India a Leader in Solar Manufacturing', has inter-alia, mentioned that setting up of 16 GW of polysilicon, 29 GW of ingot and wafer, 55 GW of cell and 58 GW of module, would require estimated capital expenditure of around USD 7.2 billion.
The investments in solar PV integrated manufacturing in the country are emanating from the private sector. To facilitate such investment, the Government has also allowed Foreign Direct Investment (FDI) of up to 100 percent under the automatic route in the Renewable Energy sector, subject to Press Note No. 3(2020 Series) dated 17.04.2020 issued by Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, which inter-alia provides that an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route.
To further incentivize solar PV manufacturing in the country, the Ministry of New & Renewable Energy (MNRE), Government of India, has been consistently bringing out policies.
Some of the recent initiatives in this regard are mentioned at Annexure.
Under Tranche-I of PLI Scheme for High Efficiency Solar PV Modules, being implemented with an outlay of Rs. 4,500 crore, Letters of Award have been issued to three successful bidders in November/ December, 2021 for setting up of 8737 MW of fully integrated solar PV module manufacturing capacities. The Scheduled Commissioning Dates for these 8,737 MW capacities are in November/ December, 2024 and no intermediate investment targets have been fixed in respect of these manufacturing capacities. However, as per the information submitted by the beneficiary manufacturers, an investment of around Rs. 2,441 crore has been made till February 2023 by the three beneficiaries under PLI scheme Tranche-I.
Selection of solar PV manufacturers under Tranche-II with outlay of Rs 19,500 crore, has not yet been done.
Some of the recent initiatives to further incentivize solar PV manufacturing in the country, inter-alia, include:
This information was given by the Union Minister of New Renewable Energy Sh. R.K. Singh in the Lok Sabha Today.
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AM/DK
Ministry of New and Renewable Energy
A number of initiatives taken for incentivizing Solar PV manufacturing in India: Union Power & NRE Minister Shri R. K. Singh
Posted On: 23 MAR 2023 4:19PM by PIB Delhi
Centre for Energy Finance of the Council on Energy, Environment and Water, i.e. CEEW-CEF, in its report of May 2022 titled 'Making India a Leader in Solar Manufacturing', has inter-alia, mentioned that setting up of 16 GW of polysilicon, 29 GW of ingot and wafer, 55 GW of cell and 58 GW of module, would require estimated capital expenditure of around USD 7.2 billion. The investments in solar PV integrated manufacturing in the country are emanating from the private sector. To facilitate such investment, the Government has also allowed Foreign Direct Investment (FDI) of up to 100 percent under the automatic route in the Renewable Energy sector, subject to Press Note No. 3(2020 Series) dated 17.04.2020 issued by Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, which inter-alia provides that an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route. To further incentivize solar PV manufacturing in the country, the Ministry of New & Renewable Energy (MNRE), Government of India, has been consistently bringing out policies. Some of the recent initiatives in this regard are mentioned at Annexure. Under Tranche-I of PLI Scheme for High Efficiency Solar PV Modules, being implemented with an outlay of Rs. 4,500 crore, Letters of Award have been issued to three successful bidders in November/ December, 2021 for setting up of 8737 MW of fully integrated solar PV module manufacturing capacities. The Scheduled Commissioning Dates for these 8,737 MW capacities are in November/ December, 2024 and no intermediate investment targets have been fixed in respect of these manufacturing capacities. However, as per the information submitted by the beneficiary manufacturers, an investment of around Rs. 2,441 crore has been made till February 2023 by the three beneficiaries under PLI scheme Tranche-I. Selection of solar PV manufacturers under Tranche-II with outlay of Rs 19,500 crore, has not yet been done. Some of the recent initiatives to further incentivize solar PV manufacturing in the country, inter-alia, include:
This information was given by the Union Minister of New Renewable Energy Sh. R.K. Singh in the Lok Sabha Today. ******* AM/DK
(Release ID: 1909955)
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The investments in solar PV integrated manufacturing in the country are emanating from the private sector. To facilitate such investment, the Government has also allowed Foreign Direct Investment (FDI) of up to 100 percent under the automatic route in the Renewable Energy sector, subject to Press Note No. 3(2020 Series) dated 17.04.2020 issued by Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry, which inter-alia provides that an entity of a country, which shares land border with India or where the beneficial owner of an investment into India is situated in or is a citizen of any such country, can invest only under the Government route.
To further incentivize solar PV manufacturing in the country, the Ministry of New & Renewable Energy (MNRE), Government of India, has been consistently bringing out policies.
Some of the recent initiatives in this regard are mentioned at Annexure.
Under Tranche-I of PLI Scheme for High Efficiency Solar PV Modules, being implemented with an outlay of Rs. 4,500 crore, Letters of Award have been issued to three successful bidders in November/ December, 2021 for setting up of 8737 MW of fully integrated solar PV module manufacturing capacities. The Scheduled Commissioning Dates for these 8,737 MW capacities are in November/ December, 2024 and no intermediate investment targets have been fixed in respect of these manufacturing capacities. However, as per the information submitted by the beneficiary manufacturers, an investment of around Rs. 2,441 crore has been made till February 2023 by the three beneficiaries under PLI scheme Tranche-I.
Selection of solar PV manufacturers under Tranche-II with outlay of Rs 19,500 crore, has not yet been done.
Some of the recent initiatives to further incentivize solar PV manufacturing in the country, inter-alia, include:
This information was given by the Union Minister of New Renewable Energy Sh. R.K. Singh in the Lok Sabha Today.
*******
AM/DK
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