Current AffairsIndia

Cabinet approves Rs 4,500 cr PLI scheme to boost manufacturing of solar PV Modules

New Delhi: The Cabinet on Wednesday approved implementation of the Production Linked Incentive (PLI) Scheme ‘National Programme on High Efficiency Solar PV (Photo Voltic) Modules’ for achieving manufacturing capacity of GW scale in high efficiency solar PV modules with an outlay of Rs 4,500 crore.

The Cabinet, in a meeting chaired by Prime Minister Narendra Modi, approved the the Ministry of New & Renewable Energy’s proposal.

After the meeting, Union Minister Piyush Goyal told a press conference here that at present, there is a dependence on imported solar PV cells and modules largely for solar capacity enhancement, as the domestic manufacturing industry has limited operational solar PV cells and modules.

The National Program on High Efficiency Solar PV (Photo Voltaic) module will reduce dependence on imports in important sectors like electricity. This corresponds to ‘self-reliant India’.

He said that this plan will increase the capacity of solar PV manufacturing plants by 10,000 MW.

There will be a direct investment of Rs 17,200 crore in solar PV manufacturing projects. There will be a demand of Rs 17,500 crore in the next five years. About 30 thousand people will get direct employment and one lakh 20 thousand people will get indirect employment. There will be a saving of about Rs 17,500 crore of foreign exchange every year.

The Union Minister said that solar PV manufacturers will be selected through a transparent competitive tender process. The PLI will be provided for five years after the start of the solar PV manufacturing plant.

Manufacturers will be given the advantage of purchasing high efficiency solar PV modules as well as materials from the domestic market.

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