Cabinet Approves Rs. 4,500-Crore PLI Scheme to Boost Solar PV Modules Manufacturing

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The government said that this decision would add 10,000MW capacity of integrated solar PV manufacturing plants.

Cabinet Approves Rs. 4,500-Crore PLI Scheme to Boost Solar PV Modules Manufacturing

The union cupboard on Wednesday permitted a production linked incentive (PLI) scheme with an outlay of Rs four,500 crore to feature 10,000MW ability of integrated solar PV modules manufacturing plants.

Commerce and Industry Minister Piyush Goyal, at the same time as addressing a press convention stated, “The union cabinet chaired by means of Prime Minister Narendra Modi has accepted excessive-frequency sun PV modules.”

The government said that this selection could add 10,000 MW potential of incorporated sun PV manufacturing flora and bring a direct funding of round Rs. 17,200 crores in solar PV manufacturing. The PLI scheme is probably to create direct employment of around 30,000 and indirect employment of 1.2 lakh.

Solar ability addition currently relies upon in large part upon imported solar PV cells and modules as the domestic production industry has restrained operational capacities of sun PV cells and modules, as consistent with a government launch.

The National Programme on High-Efficiency Solar PV Modules will reduce import dependence in a strategic area like strength. It may even help the Atmanirbhar Bharat initiative.

Solar PV producers might be decided on via a obvious aggressive bidding technique. PLI could be allotted for 5 years submit commissioning of solar PV manufacturing flora, on income of high-efficiency sun PV modules.

With this scheme, manufacturers can be rewarded for better efficiencies of sun PV modules and also for sourcing their material from the home market. Thus, the PLI amount will boom with increased module performance and elevated neighborhood value addition, the discharge said.

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