The Business Bytes
TBB BUREAU
NEW DELHI, SEPT 21, 2021
The Cabinet, chaired by Prime Minister Narendra Modi, has approved the Ministry of New & Renewable Energy’s proposal for implementation of the Production Linked Incentive Scheme (Tranche II) on ‘National programme on High Efficiency Solar PV Modules’, with an outlay of Rs.19,500 crore for achieving manufacturing capacity of Giga Watt (GW) scale in High Efficiency Solar PV Modules.
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.
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.
One of the benefits expected from the PLI scheme is that about 65,000 MW per annum manufacturing capacity of fully and partially integrated solar PV modules would be installed.
The national programme aims to build an ecosystem for manufacturing of high efficiency solar PV modules in India and reduce import dependence in the area of renewable energy.
The initiative is expected to reduce import substitution of about Rs 1.37 lakh crore.
The scheme will bring direct investment of around Rs.94,000 crore.
It will craete direct employment of about 1,95,000 and indirect employment of around 7,80,000 persons.
