Cabinet clears 2nd tranche of PLI scheme to boost manufacturing of high efficiency Solar PV modules

22 Sep 2022 , 09:55 AM

The Union Cabinet on Wednesday (21 September 2022) approved the Ministry of New & Renewable Energys 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. 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. 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. With this scheme, it is estimated that about 65,000 MW per annum manufacturing capacity of fully and partially integrated, solar PV modules would be installed. The scheme will bring direct investment of around Rs 94,000 crore. It is expected to create manufacturing capacity for balance of materials like EVA, Solar glass, backsheet, etc. The scheme is likely to generate direct employment of about 1,95,000 and indirect employment of around 7,80,000 persons. It is expected to achieve import substitution of approximately Rs 1.37 lakh crore. It will give an impetus to research and development to achieve higher efficiencies in Solar PV modules. Powered by Capital Market – Live News