Sunday, September 25, 2022
HomeBusinessGovt gives nod to Rs 19,500 cr PLI scheme for manufacturing solar...

Govt gives nod to Rs 19,500 cr PLI scheme for manufacturing solar PV modules

Published on

New Delhi: The Cabinet approved a Rs 19,500-crore production linked incentive (PLI) scheme on the ‘national programme on high efficiency solar PV modules’ on Wednesday, with the goal of attracting Rs 94,000 crore in investment in the sector.

One of the advantages anticipated from the PLI programme is the installation of a manufacturing capacity of around 65,000 MW annually for completely and partially integrated solar PV modules.

Anurag Thakur, the minister of information and broadcasting, provided details on the Cabinet decision, stating that the industry would provide roughly 2 lakh direct jobs.

Also Read :- Rates of petrol, diesel released; Check prices in your city HERE

The national initiative intends to lessen import dependency in the renewable energy sector and create an ecosystem for India to manufacture high efficiency solar PV modules.

About Rs 1.37 lakh crore less import substitution is anticipated as a result of the project.

Manufacturers of solar PV systems will be chosen via a transparent selection procedure. After the commissioning of solar PV production facilities, PLI will be paid out for five years, and incentives will be provided for domestic market sales of high efficiency solar PV modules.

Read More :- Latest Business News

Click Here – Download The News 24 App

Get Breaking News First and Latest Updates from India and around the world on News24. Follow News24 and Download our - News24 Android App. Follow News24 on Facebook, Telegram, Google News.

Latest articles

IND W vs ENG W: Team India wins last match; Jhulan Goswami makes this record by taking two wickets

New Delhi: Jhulan Goswami bid farewell to international cricket in the third ODI between...

Solution to globalisation is decentralisation, says Jaishankar

New Delhi: External Affairs Minister S Jaishankar has stated that the solution to globalisation...

BPCL signs MoU with Brazil’s national oil firm to diversify oil sourcing

New Delhi: Bharat Petroleum Corporation (BPCL), a state-run oil refiner, announced on Saturday that...

‘Chun chun ke maarenge…’: BJP MLA Nitesh Rane reacts on ‘Pakistan Zindabad’ slogans

Mumbai: Demanding a ban on Popular Front of India (PFI), BJP MLA from Maharashtra...

More like this

IND W vs ENG W: Team India wins last match; Jhulan Goswami makes this record by taking two wickets

New Delhi: Jhulan Goswami bid farewell to international cricket in the third ODI between...

Solution to globalisation is decentralisation, says Jaishankar

New Delhi: External Affairs Minister S Jaishankar has stated that the solution to globalisation...

BPCL signs MoU with Brazil’s national oil firm to diversify oil sourcing

New Delhi: Bharat Petroleum Corporation (BPCL), a state-run oil refiner, announced on Saturday that...