Amp Energy to set up 1 GW capacity under PLI scheme for manufacturing

Amp Energy India on Wednesday said it has bagged 1 GW capacity for integrating cell and module manufacturing under the government's performance-linked incentive (PLI) scheme.

Solar Energy Corporation of India Limited (SECI) is a nodal agency of the central government for auctioning renewable energy projects.

In a statement, Amp Energy India said subsidiary company AMPIN Solar One has won 1 GW capacity for integrating cell and module manufacturing under tranche II of PLI scheme for integrating cell and module (CM) manufacturing.

"SECI declared the winners who would be eligible to receive a total of Rs 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 Rs 1.4 billion/Rs 140 crore," it said.

"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.