The Central Government recently launched the subsidy scheme Pradhan Mantri Surya Ghar Yojana (PM Surya Ghar Yojana) for installing solar panels on the roofs of one crore houses. Tata Group company Tata Power sees the potential of more than 1 billion dollars in this government scheme, which has a budget of Rs 75,021 crore.
PM Surya Ghar Yojana Can Prove To Be A Game Changer
Tata Power MD Praveer Sinha said that PM Surya Ghar Yojana could be a game changer for us. The government wants to install solar panels on more than one crore houses.
The company will focus on gaining the maximum stake in this scheme in the coming three years. He said that this scheme will create new business opportunities. This scheme will create demand for 25 to 30 gigawatt solar modules in the country. Tata Power wants to supply 5 to 6 gigawatt solar modules out of this. At 20 paise per watt, this scheme can generate a business of 1 to 1.2 billion dollars (about Rs 10 thousand crores).
Solar Module Plant Will Start This Year
Praveer Sinha said that Tata Power’s share in the domestic solar module market is about 13%. We want to increase it to 20 per cent. Soon, we will set up a solar cell and module manufacturing unit in Tirunelveli, Tamil Nadu.
About Rs 3000 crore will be invested in this plant. This plant will be able to produce about 4-gigawatt capacity solar cells and modules every year. This unit will start functioning fully this year. With this, Tata Power’s total capacity to make solar modules will become 4.9 gigawatts. Based on this plant, Tata Power can get an edge in the Surya Ghar scheme.
Renew Power, and Adani Enterprises Are Also Setting Up Units
He said we will produce solar cells and modules in India to meet the country’s needs. Only one company in the country currently has a 2 GW capacity plant. Another plant with the same capacity is also being prepared. One of these plants is ReNew Power, and Adani Enterprises is setting up the other.
