The Union Cupboard on Wednesday authorised 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 geared 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 more likely to create direct employment of round 30,000 and oblique employment of 1.2 lakh, based on the federal government.
The Cupboard, headed by Prime Minister Narendra Modi, has authorised the Ministry of New & Renewable Vitality’s proposal for implementation of the PLI scheme ‘Nationwide Programme on Excessive Effectivity Photo voltaic PV (Photograph 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 mentioned.
Photo voltaic 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 Nationwide Programme on Excessive Effectivity Photo voltaic PV Modules will cut back import dependence in a strategic sector like electrical energy, the assertion mentioned including it’s going to additionally help the Aatmanirbhar Bharat initiative.
Photo voltaic PV producers can be chosen by means of a clear aggressive bidding course of.
The PLI can be disbursed for five years put up commissioning of photo voltaic PV manufacturing crops, on gross sales of excessive effectivity photo voltaic PV modules.
Producers can be rewarded for greater 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 federal government mentioned the scheme is geared toward further 10,000 MW capability of built-in photo voltaic PV manufacturing crops.
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 “Stability of Supplies”, the assertion mentioned.
It’s going to additionally assist generate direct employment of about 30,000 and oblique employment for about 1,20,000 individuals.
Apart from, the scheme may even assist in import substitution of round Rs 17,500 crore yearly, and can give impetus to R&D to attain greater effectivity in photo voltaic PV modules, the federal government mentioned.