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The Solar Energy Corporation of India (SECI) has invited expression of interest from domestic module manufacturers to procure solar panels of 1,800 megawatt (MW) in FY24. SECI will use the modules to build the 1,200 MW solar capacities recently awarded to it in the third auction tranche of the CPSU solar scheme.
The company said only solar manufacturers registered with the Bureau of Indian Standards and part of the ministry of new and renewable energy’s approved solar modules and domestic manufacturers (ALMM) list will be eligible.
The CPSU scheme, meant to promote domestic solar manufacturing, is being implemented by the state-run Indian Renewable Energy Agency. It aims at 12,000 MW of solar capacity being set up by government companies by FY23. Projects for more than 8,000 MW have been awarded through auctions on the basis of discount on the viability gap funding (VGF) offered by bidders. The Cabinet has sanctioned VGF support of `8,580 crore towards this scheme. Other government agencies building solar projects under the CPSU scheme include NTPC, Singareni Collieries Company, SJVN, NLC India, NHPC and IRCON International.
NTPC Renewable Energy, the subsidiary formed by NTPC to focus on its green energy business, had also recently invited EoI from domestic module manufacturers to procure solar panels of 15,000 MW for its projects over the next five years. A senior company official said it intends to issue the request for proposal for it in the “next two months”.
Keeping in mind the company’s renewable energy capacity target of 60,000 MW by 2032, it “desires to enter into long-term sourcing partners for solar photovoltaic modules to develop its renewable energy portfolio either by way of direct sourcing tie ups or through a contract manufacturing”.
As per the recent COP26 announcements, the country has set a target to install 500 gigawatt (GW) of renewable energy capacity by 2030 and much of it is to come from solar plants. The current installed renewable energy capacity in the country is 104 GW, of which 48 GW is solar. Module costs comprise about 60% of the total project expenditure for solar plants, and owing to cheaper rates of imported modules, solar capacity addition has largely been done through foreign products, especially Chinese. The total ALMM module-making capacity currently stands at 10,819 MW. From the beginning of FY23, solar module and cell imports will attract a BCD of 40% and 25%, respectively.
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