Reliance, Tata Power in race for $2.4-billion solar module incentive

Reliance Industries and Tata Power, in addition to global corporations like First Solar, are competing for India`s $2.4-billion economic incentive scheme to sell home sun module production and decrease dependence on imported panels from China, Bloomberg said on March 2.

Other involved events consist of JSW Energy, Avaada Group and ReNew Energy Global.Adani Group, one in all India’s biggest sun panel manufacturers, did now no longer take part withinside the bidding process, as in step with the report.

The economic help is a part of Prime Minister Narendra Modi`s purpose to show the state right into a production powerhouse, growing extra jobs withinside the financial system and lowering imports which could drain overseas exchange.

PM Modi’s “Make in India” marketing campaign is an attempt to exhibit the u . s . a . as an opportunity to China amid a worldwide push to diversify deliver chains withinside the wake of the pandemic.

The authorities is supplying presents to take the u . s . a .`s module-making ability to as plenty as ninety gigawatts via way of means of monetary 2026, sufficient to fulfill its very own necessities and serve export markets.

The bids, being carried out via way of means of state-run Solar Energy Corp., closed Feb. 28, after being prolonged more than one times.

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