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Cabinet approves production linked incentive scheme Cabinet
Image credit: BJP4India Twitter

Cabinet approves production linked incentive scheme

India Blooms News Service | @indiablooms | 21 Sep 2022, 06:19 pm

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, read a government statement.

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.

The outcomes/benefits expected from the scheme are as follows:

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.

Creation of manufacturing capacity for Balance of Materials like EVA, Solar glass, Backsheet, etc.

Direct employment of about 1,95,000 and indirect employment of around 7,80,000 persons.

Import substitution of approximately Rs.1.37 lakh crore.

Impetus to Research and Development to achieve higher efficiencies in Solar PV Modules.