The programme will strengthen the Atamnirbhar Bharat initiative and generate employment
The Union Cabinet on Wednesday has approved implementation of ‘national programme on high efficiency solar PV modules’.
The production linked incentive scheme (tranche II) was proposed by the Ministry of New and Renewable Energy’s with an outlay of Rs 19,500 crore for achieving manufacturing capacity of iga 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. It will strengthen the Atamnirbhar Bharat initiative and generate employment.
Under this programme, 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.
It is estimated that about 65,000 MW per annum manufacturing capacity of fully and partially integrated, solar PV modules would be installed. Also, the scheme will bring direct investment of around Rs 94,000 crore.
It is believed that the scheme will bring direct employment of about 1,95,000 and indirect employment of around 7,80,000 persons. Along with this, import substitution will be approximately Rs 1.37 lakh crore.