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(The Gist of PIB) Cabinet approves Production Linked Incentive scheme ‘National Programme on High Efficiency Solar PV Modules’

(THE GIST OF PIB) Cabinet approves Production Linked Incentive scheme ‘National Programme on High Efficiency Solar PV Modules’

The Union Cabinet has approved the Ministry of New and Renewable Energy’s proposal for implementation of the Production Linked Incentive (PLI) Scheme ‘National Programme on High Efficiency Solar PV (Photo Voltic) Modules’ for achieving manufacturing capacity of Giga Watt (GW) scale in high efficiency solar PV modules with an outlay of Rs.4,500 crore.

About:

Solar PV manufacturers will be selected through a transparent competitive bidding process.
PLI will be disbursed for 5 years post commissioning of solar PV manufacturing plants, on sales of high efficiency solar PV modules.
The outcomes/ benefits expected from the scheme are as follows:
Additional 10,000 MW capacity of integrated solar PV manufacturing plants,
Direct investment of around Rs.17,200 crore in solar PV manufacturing projects
Demand of Rs.17,500 crore over 5 years for ‘Balance of Materials’,
Direct employment of about 30,000 and Indirect employment of about 1,20,000 persons,
Import substitution of around Rs.17,500 crore every year, and
Impetus to Research and Development to achieve higher efficiency in solar PV modules.