Union Authorities Approves PLI Program for Rs 4500cr to Promote Solar System Manufacturing – The Information Minute
The PLI program aims to add 10,000 MW of production capacity for integrated solar PV modules, resulting in direct investment of Rs 17,200.
With the aim of increasing the production capacity of solar PV modules domestically, the association's cabinet approved a PLI (Production-Linked Incentive) program worth Rs.4,500 billion on Wednesday. The PLI program aims to add 10,000 MW of production capacity for integrated solar PV modules, resulting in direct investment of Rs 17,200.
According to the government, the PLI system is expected to create direct employment of around 30,000 and indirect employment of 1.2 lakh.
The cabinet, led by Prime Minister Narendra Modi, has approved the proposal of the Ministry of New and Renewable Energies to implement the PLI program "National Program for High Efficiency Solar PV Modules (Photo Voltic)" to achieve a production capacity of Giga Watt (GW) approved. Scaling in highly efficient solar PV modules at an expense of Rs 4,500 crore, according to an official statement.
The expansion of solar energy capacity is currently largely dependent on imported solar PV cells and modules as the domestic manufacturing industry has limited operating capacities for solar PV cells and modules.
The national program for high-efficiency solar PV modules will reduce import dependency in a strategic sector such as electricity, the statement said, and it will also support the Aatmanirbhar Bharat initiative.
The manufacturers of solar PV are selected within the framework of a transparent tendering process. The PLI is paid out 5 years after the commissioning of solar PV production systems for the sale of highly efficient solar PV modules.
Manufacturers are rewarded for the higher efficiency of solar PV modules and for procuring their material from the domestic market. Thus, the amount of PLI increases with increasing module efficiency and increased local added value.
The government said the program aims to add 10,000 MW of additional capacity for integrated solar PV production facilities. This PLI program provides for around Rs.17,200 billion direct investment in solar PV production projects and Rs.17,500 billion demand over five years for "Balance of Materials," the statement said.
In addition, the program will also help ensure that around 17,500 rupees are imported each year and stimulate research and development to make solar PV modules more efficient, the government said.
Show us some love and support our journalism by becoming a TNM member – Click here.
Comments are closed.