Cabinet okays Rs 19500 crore more for solar module PLI
The Union Cabinet on Wednesday approved production linked incentive (PLI) scheme on ‘National programme on High Efficiency Solar PV Modules’ for achieving manufacturing capacity of gigawatt (GW) scale in high efficiency solar PV modules. A grant worth Rs 19,500 crore has been passed by the government for the manufacturing project. About 65,000 MW per year manufacturing capacity of fully and partially integrated, solar PV modules will be installed under the project. There will be import substitution of approximately Rs1.37 lakh crore. With this PLI scheme, the total capacity will reach about 80-90 GW. Hence, India will have enough for its domestic requirement as well as for exports. PLI will be disbursed for five years after commissioning of solar photovoltaic manufacturing plants on sales of high efficiency solar PV modules.
This will come as positive for companies like RIL, Adani and Tata Power as they have mega plans on green energy segment and until now India was heavily dependent on Imports solar PV modules. This cash support to catalyse investment worth Rs 94,000 crore. The PLI encourages all stages - allocating Rs 12,000 crore for fully integrated polysilicon to wafers to cells to modules capacity, Rs 4,500 crore for three-stage integration of wafers to cells to modules, and Rs 3,000 crore for integration across cells and modules.