The Union Cabinet on Wednesday accredited a Rs 4,500 crore production-linked incentive (PLI) scheme to spice up home manufacturing capability of photo voltaic PV modules.
The PLI scheme is aimed toward including 10,000 MW manufacturing capability of built-in photo voltaic PV modules entailing direct funding of Rs 17,200 crore.
The PLI scheme is prone to create direct employment of round 30,000 and oblique employment of 1.2 lakh, in keeping with the federal government.
The Cabinet, headed by Prime Minister Narendra Modi, has accredited the Ministry of New & Renewable Energy’s proposal for implementation of the PLI scheme ‘National Programme on High Efficiency Solar PV (Photo Voltic) Modules’ for reaching manufacturing capability of Giga Watt (GW) scale in excessive effectivity photo voltaic PV modules with an outlay of Rs 4,500 crore, an official assertion stated.
Solar power capability addition presently relies upon largely upon imported photo voltaic PV cells and modules because the home manufacturing trade has restricted operational capacities of photo voltaic PV cells and modules, it added.
The National Programme on High Efficiency Solar PV Modules will scale back import dependence in a strategic sector like electrical energy, the assertion stated including it would additionally assist the Aatmanirbhar Bharat initiative.
Solar PV producers will probably be chosen by means of a clear aggressive bidding course of.
The PLI will probably be disbursed for five years submit commissioning of photo voltaic PV manufacturing vegetation, on gross sales of excessive effectivity photo voltaic PV modules.
Manufacturers will probably be rewarded for larger efficiencies of photo voltaic PV modules and likewise for sourcing their materials from the home market. Thus, the PLI quantity will enhance with elevated module effectivity and elevated native worth addition.
The authorities stated the scheme is aimed toward extra 10,000 MW capability of built-in photo voltaic PV manufacturing vegetation.
This PLI scheme will see a direct funding of round Rs 17,200 crore in photo voltaic PV manufacturing tasks and demand of Rs 17,500 crore over 5 years for “Balance of Materials”, the assertion stated.
It may also assist generate direct employment of about 30,000 and oblique employment for about 1,20,000 individuals.
Besides, the scheme may also assist in import substitution of round Rs 17,500 crore yearly, and can give impetus to R&D to attain larger effectivity in photo voltaic PV modules, the federal government stated.
