Cabinet approves expansion of PLI scheme for solar PV modules

Around 94,000 crores in direct investment are anticipate to come from the solar PLI scheme.

Anurag Thakur, a Union minister, revealed at a news conference on Wednesday that the Union cabinet has approved the second round of the Performance Linked Incentive (PLI) plan to increase the production of solar photovoltaic (PV) modules in India. PLI scheme for solar PV modules.

The second phase of the Performance Linked Incentive (PLI) plan, with a budget of $19,500 crore, has been authorized by the Union Cabinet in order to increase the production of high-efficiency solar photovoltaic (PV) modules in India.

The project is anticipated to bring a direct investment of over 94,000 crores, according to a statement from the Union cabinet. It is also anticipate that about 65,000 megawatts of completely and partially integrated PLI Scheme for solar PV modules would be built annually.

PLI scheme for solar PV modules

The PLI allocation of solar PV modules is increase to ₹24,000 crores from the earlier ₹4,500 crores after seeing an encouraging response in the first round. Considering India’s ambitious plans to expand solar generation, this scheme may continue to attract additional allocation every year.

According to a cabinet statement, the solar PLI plan will create roughly 1,95,000 direct jobs and 7,80,000 indirect jobs.

The national initiative on high-efficiency solar PV modules seeks to create a manufacturing environment in India for high-efficiency solar PV modules, hence reducing reliance on imports in the field of renewable energy. It is anticipate that it will increase employment and support the Atam nirbhar Bharat initiative.

PLI scheme for solar PV modules

According to the cabinet, the funding for the solar PLI will replace imports worth roughly Rs. 1.37 lakh crore.

The plan will also result in the development of industrial capacity for supporting solar manufacturing equipment, such as solar glass.

The government claims that a transparent selection procedure will use to choose solar PV firms. PLI will paid out for five years following the commissioning of solar PV manufacturing facilities when high-efficiency solar PV module sales are encourage on the domestic market, it continues.

In the meantime, the world’s largest online retailer, Amazon. On Wednesday unveiled three solar farms in the Indian state of Rajasthan as its first utility-scale renewable energy projects.

These include a 210 MW project that the Indian developer ReNew Power will build. A 100 MW project that the regional developer Amp Energy India will build. And a 110 MW project that the developer Brookfield Renewable will build.

These solar farms can collectively produce 1,076,000 megawatt hours (MWh) of renewable energy annually. Which is sufficient to power more than 360,000 average-sized homes in New Delhi.

By enabling new capacity beyond what is already available on the grid. Amazon said that its solar projects in Rajasthan will contribute to increasing the availability. And affordability of renewable energy in India.

The online retailer with headquarters in the US also revealed 23 new solar rooftop projects. In its fulfilment centres spread across 14 Indian cities. With a combined potential to produce an additional 4.09 MW of renewable energy. With 19.7 MW of renewable energy capacity. there are now 41 solar rooftop projects in India, which will help power Amazon’s fulfilment network there.

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