The scheme is poised to reduce import dependence while generating domestic employment opportunities
PM-chaired Union Cabinet recently approved the implementation of Tranche II of the Production Linked Incentive (PLI) Scheme on the ‘National programme on High-Efficiency Solar PV Modules’ for achieving manufacturing capacity of Giga Watt (GW) scale in High-Efficiency Solar PV Modules.
As per the estimate, fully and partially integrated solar PV modules of around 65,000 MW/year manufacturing capacity would be installed, generating over 9 lakh jobs. It is also expected to attract over Rs.94,000 crores of direct investment. In addition to encouraging R&D in solar PV modules, we’ll be able to save about Rs.1.37 lakh crore through import substitution in the area of Renewable Energy.
Proposed by the Ministry of New & Renewable Energy (MNRE), the scheme will pour Rs.19,500 crore of budget into incentivizing module manufacturing in the country.
The national programme on High-Efficiency Solar PV Modules aims to strengthen the Aatmanirbhar Bharat initiative and generate employment. It will work for an ecosystem for the manufacturing of high-efficiency solar PV modules in India. PLI will be disbursed for five years post commissioning of solar PV manufacturing plants by selected Solar PV manufacturers.