By: ICN Bureau
Last updated : March 29, 2023 10:18 am
JSWRTL is eligible for around Rs. 320 crores of PLI benefits on the 1 GW manufacturing capacity of Solar Wafer + Cell + Module allocated under the scheme. The awarded capacity has to be made operational by April, 2025
JSW Renewable Technologies Limited (JSWRTL), a wholly owned step-down subsidiary of JSW Energy Limited has been allocated Performance Linked Incentive (PLI) for the quoted manufacturing capacity of 1 GW (Wafer + Cell + Module) under ‘National Programme on High Efficiency Solar PV Modules’ to promote manufacturing of high efficiency solar PV modules in India.
JSWRTL is eligible for around Rs. 320 crores of PLI benefits on the 1 GW manufacturing capacity of Solar Wafer + Cell + Module allocated under the scheme. The awarded capacity has to be made operational by April, 2025.
Prashant Jain, Joint Managing Director and CEO, JSW Energy said, "We are pleased to share that JSW Energy has been awarded capacity under Solar PV module manufacturing PLI Tranche-II. We will be undertaking solar wafer, cell and module (W-C-M) manufacturing which backward integrates and de-risks our supply chain to aid the Company’s growth plans. The strategic intent is to use this capacity for captive consumption in building RE projects by JSW Neo Energy Limited.”
The company has set a target to reach 20 GW capacity by 2030 and near-term target of 10 GW by 2025, with a total locked-in capacity of 9.9 GW the company is well placed to achieve its targets well ahead of time. Currently operational capacity is 4.8 GW, under- construction/in-pipeline is 3.3 GW and under-acquisition (Mytrah RE assets) is 1.75 GW. JSW Energy has set an ambitious target for a 50% reduction in its carbon footprint by 2030 and achieving Carbon Neutrality by 2050 by transitioning towards renewable energy.
The company is presently constructing various renewable power projects to the tune of 2.2 GW, with a vision to achieve a total power generation capacity of 20 GW by the year 2030, when the share of renewables in the total capacity will increase to around 81%.