Nod to Rs 19,500-cr PLI scheme for solar modules : The Tribune India

Nod to Rs 19,500-cr PLI scheme for solar modules

Nod to Rs 19,500-cr PLI scheme for solar modules

Union Minister Anurag Thakur in New Delhi on Wednesday. PTI

Tribune News Service

New Delhi, September 21

The Union Cabinet today approved a Rs 19,500-crore Production-Linked-Incentive (PLI) scheme for manufacturing of solar PV modules with an aim to attract Rs 94,000-crore investment in the sector.

Rs 76K cr semiconductor scheme tweaked

The government on Wednesday tweaked the Rs 76,000 crore incentive scheme for semiconductors and display manufacturing units, offering to give 50% of the project cost across all categories of factories as it looks to woo global players such as Intel to set up production base in India to help cut reliance on imports.

Union Information & Broadcasting Minister Anurag Thakur said one of the benefits expected from the PLI scheme is that about 65,000 MW per annum manufacturing capacity of fully and partially integrated solar PV modules would be installed.

The minister said about two lakh direct jobs would be created in the sector.

The national programme aims to build an ecosystem for manufacturing of high efficiency solar PV modules in India and reduce import dependence in the area of renewable energy, he said, adding the initiative is expected to reduce import substitution of about Rs 1.37 lakh crore.

“Solar PV manufacturers will be selected through a transparent selection process. PLI will be disbursed for 5 years after commissioning of solar PV manufacturing plants and sales of high efficiency solar PV modules,” the government said.

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