: Centre to increase PLI scheme budget for solar manufacturing to Rs. 24,000 cr #finance #StockMarketNEWS Centre to increase PLI scheme budget for solar manufacturing to Rs. 24,000 cr New Delhi, 15

Centre to increase PLI scheme budget for solar manufacturing to Rs. 24,000 cr #finance #StockMarketNEWS
Centre to increase PLI scheme budget for solar manufacturing to Rs. 24,000 cr New Delhi, 15 Nov (KNN) Power and New & Renewable Energy Minister R K Singh said that the Central Government is aiming to make India, a solar energy exporting nation, for which it will soon boost the funding under the production linked incentive (PLI) scheme for the domestic solar cells and module manufacturing to INR 24,000 crore fr0m the existing INR 4,500 crore.

He informed about the present solar module manufacturing capacity in the country which is 8,800 MW while the solar cell manufacturing capacity is 2,500 MW.

In view of enhancing boost domestic manufacturing capacity of solar PV modules, the Union Cabinet had approved a INR 4,500 crore production linked incentive (PLI) scheme in April this year.

The aim of the scheme is adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of INR 17,200 crore at present.

It is to note that solar PV manufacturers will be selected through a transparent competitive bidding process, and the PLI will be divided for five years post commissioning of solar PV manufacturing plants, on sales of high efficiency solar PV modules.

Manufacturers will be rewarded for higher efficiencies of solar PV modules and also for sourcing their material fr0m the domestic market. The PLI amount will increase with increased module efficiency and increased local value addition.

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