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Cabinet approves Rs 4,500 crore PLI scheme to boost solar PV modules manufacturing English.Lokmat.com

Cabinet approves Rs 4,500 crore PLI scheme to boost solar PV modules manufacturing

The union cabinet on Wednesday approved a production linked incentive (PLI) scheme with an outlay of Rs 4,500 crore to add 10,000 MW capacity of integrated solar PV modules manufacturing plants.
Cabinet approves Rs 4,500 crore PLI scheme to boost solar PV modules manufacturing

The union cabinet on Wednesday approved a production linked incentive (PLI) scheme with an outlay of Rs 4,500 crore to add 10,000 MW capacity of integrated solar PV modules manufacturing plants.

Commerce and Industry Minister Piyush Goyal, while addressing a press conference said, "The union cabinet chaired by Prime Minister Narendra Modi has approved high-frequency solar PV modules."

The government said that this decision would add 10,000 MW capacity of integrated solar PV manufacturing plants and bring a direct investment of around Rs 17,200 crore in solar PV manufacturing. The PLI scheme is likely to create direct employment of around 30,000 and indirect employment of 1.2 lakh.

Solar capacity addition presently depends largely upon imported solar PV cells and modules as the domestic manufacturing industry has limited operational capacities of solar PV cells and modules, as per a government release.

The National Programme on High-Efficiency Solar PV Modules will reduce import dependence in a strategic sector like electricity. It will also support the Atmrbhar Bharat initiative.

Solar PV manufacturers will be selected through a transparent competitive bidding process. PLI will be disbursed for five years post commissioning of solar PV manufacturing plants, on sales of high-efficiency solar PV modules.

With this scheme, manufacturers will be rewarded for higher efficiencies of solar PV modules and also for sourcing their material from the domestic market. Thus, the PLI amount will increase with increased module efficiency and increased local value addition, the release stated.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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