By Rajesh Kumar Singh

Solar panel manufacturers such as Reliance Industries Ltd. and Tata Power Co. are among the bidders for a Rs 19,500 crore ($2.4 billion) financial incentive that India is offering to expand domestic production and curb imports of modules from the dominant producer China.

Other interested parties include the US company First Solar Inc. and the Indian companies JSW Energy Ltd., Avaada Group and ReNew Energy Global Plc. The embattled Adani Group, one of the country’s largest solar panel makers, was not among the bidders, people said.

The financial support is part of Prime Minister Narendra Modi’s goal of turning the nation into a manufacturing powerhouse, creating more jobs in the economy and reducing imports, which can drain foreign exchange. His Make in India campaign is an attempt to present the country as an alternative to China amid a global push to diversify supply chains amid the pandemic.

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The government is offering grants to boost the country’s module manufacturing capacity up to 90 gigawatts, enough to meet domestic needs and serve export markets.

Still, the offers come amid concerns that the focus on domestic manufacturing is slowing renewable energy projects and undermining India’s transition goals. Energy Minister Raj Kumar Singh said last month his ministry was considering temporarily “easing” a key barrier to module imports to speed up projects.

Representatives for Reliance, Avaada Group and JSW Energy declined to comment. The Ministry of Renewable Energy, along with Adani, Tata Power, ReNew and First Solar, did not immediately respond to emailed requests for comment.

The tenders issued by the state-owned Solar Energy Corp. carried out ended on February 28, after being extended several times. Details on incentives and projects are not yet available.