In­dian gov­ern­ment plans ` 110 bil­lion aid pack­age to boost lo­cal so­lar cell man­u­fac­tur­ing

Electronics Bazaar - - Industry News - *Representational Image

The In­dian gov­ern­ment plans to boost so­lar mod­ule man­u­fac­tur­ing by pro­vid­ing fi­nan­cial sup­port of about ` 110 bil­lion (around US$ 1.8 bil­lion) along with con­ces­sions to cut the coun­try’s re­liance on im­ports from China.

The Min­istry of New and Re­new­able En­ergy aims to pro­vide a 30 per cent sub­sidy for set­ting up new plants and ex­pand­ing the ex­ist­ing ones, ac­cord­ing to a con­cept note posted on the min­istry’s web­site. The heavy equip­ment re­quired to set up projects will also be ex­empt from cus­tom duty, ac­cord­ing to the scheme to be op­er­ated by the In­dian Re­new­able En­ergy De­vel­op­ment Agency (IREDA).

The Cen­tral gov­ern­ment tar­gets boost­ing in­stalled so­lar power ca­pac­ity to 100GW by 2022. But 84 per cent of In­dia’s so­lar cell de­mand is met by im­ports from China, ac­cord­ing to a re­port au­thored by re­new­able en­ergy con­sul­tancy ‘Bridge to In­dia’. Pho­to­voltaic mod­ules ac­count for more than half the costs of a so­lar project.

The cheaper Chi­nese im­ports have brought down so­lar power tar­iffs to a record low. The In­dian So­lar Man­u­fac­tur­ers As­so­ci­a­tion, how­ever, has pe­ti­tioned the gov­ern­ment to impose an an­tidump­ing duty on in­bound ship­ments from China.

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