New Delhi-headquartered ReNew Power has proposed to set up 2000 megawatt solar cell and module manufacturing plant in Rajasthan with an investment of Rs. 1,600 crore.
If the state government clinches the deal by offering the incentives the company has sought, this would be a first solar cell manufacturing plant in Rajasthan, which has already become a lucrative destination for power generation.
ReNew Power, which builds, owns and operates utility scale wind and solar projects, already has an operational capacity of 740 MW and a firm pipeline of 2,400 MW to be commissioned in the next two year. As per the proposal, the company needs 40 acre land near to a city having an established industrial cluster with an inland container depot. It has also projected employment generation for 2000 people.
“We are keen to have the manufacturing facility in the state. Rajasthan has become a leading state in the country in generation of solar power and we want to replicate a similar success story in solar equipment manufacturing segment as well,” said Ajitabh Sharma, principal secretary, department of energy and chairman of Rajasthan Renewable Energy Corporation (RRECL).
The state government is currently examining the incentives the company needs to set up the plant in the state. But sources also said that ReNew power is also engaged in discussions with couple of states.
“Rajasthan is an ideal location for the company to set up the plant because ReNew already has substantial solar power generation projects. The manufacturing plant can complement their generating projects. But the fate of the project depends on the kind of incentives other states offer,” said an official in RRECL.
The company has sought additional subsidies besides what Rajasthan Industrial Promotion Scheme -2019 (RIPS-2019) offers and has cited the incentives that the companies in China avail making their products cheaper by 20-25%.
“The proposed manufacturing facility would be eligible for benefits under RIPS-2019. However, given the scale and uniqueness of the project, and the need to be competitive in the global markets, we need additional incentives, exemptions and concessions from the government of Rajasthan,” the company said in the proposal. The company wants that similar incentives be extended to ancillary units to be set up by it or other companies to supply input materials for manufacture of solar cells and modules.
For the next five years, ReNew power also targets to set up 10,000 MW solar energy generation projects. It has requested the government to facilitate 16,000 ha of land for implementing the projects.
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