Hyd-based Shirdi Sai Electricals bags 4,000 MW solar PV module mfg bid
Indian Renewable Energy Development Agency (IREDA) has issued Letter of Award (LoA) to a city-based Shirdi Sai Electricals Limited (SSEL) for setting up manufacturing capacities for high efficiency solar PV modules under the Production Linked Incentive (PLI) scheme floated by Ministry of New & Renewable energy (MNRE)
Hyderabad Indian Renewable Energy Development Agency (IREDA) has issued Letter of Award (LoA) to a city-based Shirdi Sai Electricals Limited (SSEL) for setting up manufacturing capacities for high efficiency solar PV modules under the Production Linked Incentive (PLI) scheme floated by Ministry of New & Renewable energy (MNRE).
In the bids invited by IREDA for setting up manufacturing facilities for 'high efficiency solar PV modules', SSEL has participated and won this bid for a capacity of 4,000 MW to set up Polysilicon + Ingot-Wafer + Cell + Module alongside other industrial groups like Reliance and Jindal.
Shirdi Sai Electricals is one of the largest players in the transmission and distribution sector and is a leading manufacturer of transformers with more than 25 years of expertise. As an EPC player, SSEL has installed more than 80,000 kms of LT and HT transmission lines and have worked on many complex turnkey projects in the domestic and international markets, the company said in a press release.
Commenting on this development, Sharat Chandra, CEO, SSEL remarked that they are honoured to be a part of the Aatma Nirbhar Bharat Abhiyan of Government of India visualised under the leadership of PM Modi and are also happy to contribute for securing a clean environment for future generations through this manufacturing initiative.
India has set an ambitious target of setting up 1,75,000 MW capacity of renewable energy by 2022 and 4,50,000 MW by 2030. Based on techno-economic analysis, Central Electricity Authority (CEA) has indicated in their optimum energy mix report that 2,80,000 MW capacity from solar energy will be needed by 2029-30 which needs an installation of 25,000 MW per annum of Solar energy till 2030.
Solar capacity addition presently depends largely upon imported solar PV cells and modules as the domestic manufacturing industry has limited operational annual capacities of around 2,500 MW for solar PV cells and 9,000-10,000 MW for solar PV modules.
With this vision in mind, the Cabinet has approved Production Linked Incentive (PLI) for enhancing India's manufacturing capabilities and exports under Atmanirbhar Bharat initiative. One of the schemes approved by the Cabinet is Manufacturing 'High Efficiency Solar PV Modules' with a financial outlay of Rs 4,500 crores over a five-year period and Indian Renewable Energy Development Agency Limited (IREDA), was appointed as an implementing agency for this scheme by MNRE.