Govt awards Avaada Group 3,000 MW manufacturing capacity

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Govt awards Avaada Group 3,000 MW manufacturing capacity. Avaada Group has been awarded 3,000 MW out of the 16,800 MW manufacturing capacity under the wafers, cells, and modules basket, under the Production-Linked Incentive (PLI) scheme for high efficiency solar PV modules tranche-II. The company won a production-linked incentive of Rs 961 crore for 3000 MW of capacity from wafers to cells and modules. The government had allocated 39,600 MW of domestic solar PV module manufacturing capacity, with a Rs 14,007 crore outlay, to 11 companies.

Speaking on the latest development, Vineet Mittal, Chairman, Avaada Group, said, “The PLI scheme will give a much-needed impetus to India’s solar module manufacturing sector. With the allocation of 3000 MW by MNRE, Avaada Group will play a pivotal role in India’s Green energy transition.  This initiative will foster energy security, economic growth, and a cleaner environment. The participation of leading solar modules manufacturers showcases the enormous potential of the PLI scheme in revolutionizing India’s renewable energy landscape.’’

The government announced that tranche-II is expected to bring in an investment of Rs 93,041 crore, and 7400 MW of manufacturing capacity is expected to become operational by October 2024, 16,800 MW by April 2025 and the balance 15,400 MW by April 2026. This strategic investment is anticipated to generate employment opportunities with a total of 1,01,487 jobs with 35,010 getting direct employment and 66,477 being indirectly employed.  This will contribute to India’s objective of achieving 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. 

The government’s drive to promote solar module production in India yields a multitude of benefits, including reduced import dependency, employment generation, technological advancements and environmental benefits. In a bid to promote renewable energy, particularly solar power, to meet the country’s growing energy demands and combat climate change, the government has introduced the PLI scheme to bolster domestic solar module manufacturing.

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