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Solar photovoltaic (PV) module manufacturing capacity of 8,747 megawatts (MW) is expected to be commissioned by December 2024 under the first tranche of the Production Linked Incentive (PLI) scheme
Under Tranche-I, the PLI scheme for high efficiency solar PV modules is being implemented with an outlay of ₹4,500 crore. The Letters of Award (LoA) have been issued to three successful bidders in November and December 2021 for setting up of 8,737 MW of fully integrated capacities.
The data from the Ministry of New & Renewable Energy (MNRE) said that the scheduled commissioning dates for these capacities are in November and December 2024. Besides, the three beneficiary manufacturers have made an investment of around ₹2,441 crore till February 2023 under the scheme.
Second Tranche
Under the second tranche, an outlay of ₹19,500 crore has been issued in September 2022 and the tender document for selection of solar PV manufacturers issued in November 2022. The selection of manufacturers has not yet started. The Centre for Energy Finance of the Council on Energy, Environment and Water (CEEW-CEF) in its May 2022 report said that setting up of 16 gigawatts (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 $7.2 billion.
So far, a total of 168.96 GW renewable energy capacity has been installed in the country as of February 2023. This includes 64.38 GW Solar Power, 51.79 GW Hydro Power, 42.02 GW Wind Power and 10.77 GW Bio Power.
Energy storage
Energy Transition requires increasing presence of variable and intermittent Renewable Energy sources (VREs) like solar and wind in the energy mix.
The Energy Storage System (ESS) such as Battery Energy Storage Systems (BESS) and Pump Storage Plants (PSP) store energy for later use and, as a result, provide flexibility in managing the intermittency of Renewable Energy (RE) generation.
The Central Electricity Authority (CEA) has projected a requirement of 236 Gigawatt Hours (GWh) of BESS and 27 Gigawatt (GW) of PSP by FY32 in the country.
In 2022, the Solar Energy Corporation of India (SECI) has awarded a pilot project for development of 500 MW/1,000 Megawatt hour (MWh) of standalone BESS in the country. In the Union Budget of FY24, a voluntary gap funding (VGF) scheme has been proposed to support the development of 4,000 MWh of BESS projects.
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