The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Ministry of New & Renewable Energy’s proposal to implement the second tranche of the production-linked incentive scheme for gigawatt-scale manufacturing of high-efficiency solar PV modules. The second tranche has a budgetary outlay of INR 19,500 crore (around $2.43 billion).
The additional allocation will help more willing manufacturers, thus paving the way for making India a solar panel manufacturing hub and exporting nation.
“Solar PV manufacturers will be selected through a transparent selection process. PLI will be disbursed for five years post commissioning of solar PV manufacturing plants on sales of high-efficiency solar PV modules,” stated a government release.
The PLI scheme is expected to drive setting up of 65 GW per annum solar module manufacturing capacity, fully and partially integrated. This will bring a direct investment of around INR 94,000 crore.
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