BackAmp Energy to set up 1 GW solar cell, module manufacturing capacity under PLI scheme
Amp Energy India (AMPIN Solar One) has won 1GW for basket 3, and would be eligible to receive a maximum incentive of ₹1.4 billion/ ₹140 crore
PremiumNew Delhi: Amp Energy India on Wednesday said it has bagged one gigawatt (GW) capacity for integrating solar cell and module manufacturing under the production-linked incentive (PLI) scheme tranche-II.
Solar Energy Corp of India Limited (SECI) is a nodal agency of the central government for auctioning renewable energy projects.
“SECI declared the winners who would be eligible to receive a total of ₹139.4 billion under tranche II of the programme to manufacture 39.6 GW of solar modules. Amp Energy India (AMPIN Solar One) has won 1GW for basket 3 (CM) and would be eligible to receive a maximum incentive of ₹1.4 billion/ ₹140 crore," said an official release.
“Our foray into manufacturing is a strategic move that will enable us to achieve backward integration and enhance our control over the supply chain for crucial components which would help us optimize our operations for quality, efficiency and cost-effectiveness. This development is an extension of our commitment for an Atmanirbhar Bharat of making solar power in India using solar cells and modules manufactured in India," Pinaki Bhattacharyya, MD and CEO, Amp Energy India said.
The release said that the company’s entry into manufacturing will enhance India’s solar module production capacity. The demand for solar cells made in India is high, and with beneficial policies in effect, the manufacturing costs will decrease as the industry grows and becomes more competitive, it further added.
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