The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the Production Linked Incentive (PLI) scheme solar PV modules with an outlay of Rs 19,500 crore for achieving a manufacturing capacity of Giga Watt (GW) scale in High-Efficiency Solar PV Modules.
The cabinet approved the Ministry of New & Renewable Energy's proposal for the implementation of the Production Linked Incentive Scheme (Tranche II) on the 'National programme on High-Efficiency Solar PV Modules', with an outlay of Rs.19,500 crore for achieving the manufacturing capacity of Giga Watt (GW) scale in High-Efficiency Solar PV Modules, according to an official statement released after the cabinet meeting.
The national programme on High-Efficiency Solar PV Modules aims to build an ecosystem for manufacturing of high-efficiency solar PV modules in India, and thus reduce import dependence in the area of Renewable Energy. It will strengthen the Atamnirbhar Bharat initiative and generate employment, it said.
Solar PV manufacturers will be selected through a transparent selection process. PLI will be disbursed for 5 years post commissioning of solar PV manufacturing plants on sales of high-efficiency solar PV modules from the domestic market will be incentivised.
It is estimated that about 65,000 MW per annum manufacturing capacity of fully and partially integrated, solar PV modules would be installed.
The scheme will bring a direct investment of around Rs 94,000 crore, according to a statement released by the Ministry of New and Renewable Energy.
The scheme will lead to the creation of manufacturing capacity for the Balance of Materials like EVA, Solar glass, Backsheet, etc.
It is estimated to provide direct employment of about 1,95,000 and indirect employment of around 7,80,000 persons.
The scheme will lead to import substitution of approximately Rs 1.37 lakh crore. It will give impetus to Research and Development to achieve higher efficiencies in Solar PV Modules, the ministry said.
( With inputs from ANI )
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