Government allocates Rs 14,007 crore worth of solar PV module production, under PLI scheme

29 Mar 2023 , 09:03 AM

According to a press statement on Tuesday, the Union Government has given 11 companies a total of 39,600 MW of domestic solar PV module production capacity with a total investment of Rs14,007 crore, under the PLI scheme. 

Reliance received a capacity of 6,000 MW, Waaree 6,000 MW, ReNew 4,800 MW, JSW 1,000 MW, and Tata Power Solar received 4,000 MW, according to the press statement.

Manufacturing capacity totaling 7400 MW is anticipated to be operational by October 2024, followed by 16,800 MW in April 2025 and the remaining 15,400 MW in April 2026, according to the report. Investing in the Tranche-II is anticipated to total Rs93,041 crore.

According to the government, it will also create a total of 1,01,487 jobs, with 35,010 people receiving direct work and 66,477 people receiving indirect employment.

After combining the two tranches, the PLI Scheme’s total domestic solar PV module production capacity is 48,337 MW, with a total government contribution of more than Rs18,500 crore.

‘Over the next three years, there will be a 48 GW domestic module manufacturing capability thanks to the PLI Scheme, which has proven to be a turning point in India’s renewable energy landscape. According to the Hon. Prime Minister’s vision of an Aatmanirbhar Bharat, the scheme has enhanced the government’s efforts to lessen not only the impact of global supply chain shocks but also our dependence on imports ‘The Union Minister for Electricity & NRE, R. K. Singh, remarked.

He claimed that India was well on its way to climbing up the value chain in the production of the high technology Solar PV Modules.

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