The Hindu Business Line : Phoenix Solar seeks to set up Rs 1,200-cr project

New Delhi, April 18 The Government has received an application from Phoenix Solar India for setting-up a Rs 1,200-crore solar PV cell and module project in the country, taking the total number of proposals under the new scheme for semiconductor fabs and other micro and nano technology manufacturing industries, to eight.

According to sources in Department of IT (DIT), the proposed project is expected to come up at Greater Noida. The company filed its application with the Government in early April, sources added.

Earlier this month, the Special Incentive Package Scheme (SIPS) had attracted the largest proposal to date when Mukesh Ambani-promoted Reliance Industries Ltd submitted two proposals worth over Rs 30,000 crore for establishing a semiconductor wafer fabrication plant and solar PV module unit in the country.

Besides Reliance Industries’ proposal, Videocon Industries, Moser Baer PV Technologies, Titan Energy System, KSK Energy Ventures Pvt Ltd and Signet Solar Inc have also submitted their project proposal with DIT. The proposals entail manufacture of wide variety of items like Polysilicon, single/multi-crystalline ingots, wafers, solar cells, solar photovoltaic modules (SPV) liquid crystal display (LCD), integrated circuits-advanced logic/memory/embedded system on chip including assembly, test, mark and packaging facility for semiconductor devices.

Under the Special Incentive Package Scheme, the Central Government would provide incentive of 20 per cent capital expenditure during the first 10 years for the units in SEZs and 25 per cent of the capital expenditure in non-SEZ units. Any unit can claim incentives in the form of capital subsidy or equity participation. All the eight firms have sought subsidy from the Government, for setting up their facilities.

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