The predicted benefit of the PLI program is the installation of approximately 65,000 MW per year production capacity of entirely and partially integrated solar PV modules.
Digital Desk: The Cabinet authorized a 19,500-crore production linked incentive (PLI) scheme on the 'national program on high-efficiency solar PV modules' on Wednesday, with the goal of attracting 94,000 crore investment in the sector.
One of the predicted benefits of the PLI program is the installation of approximately 65,000 MW per year production capacity of entirely and partially integrated solar PV modules.
Anurag Thakur, Minister of Information and Broadcasting, stated that the Cabinet decision would create over 2 lakh direct jobs in the sector.
The major initiative intends to create an ecosystem in India to produce high-efficiency solar PV modules and minimize India's dependence on foreign renewable energy.
The project is expected to save approximately 1.37 lakh crore in import substitution.
Solar PV manufacturers will be chosen in an open and transparent procedure. PLI will be paid out for five years following the commissioning of solar PV manufacturing plants, and sales of high-efficiency solar PV modules in the domestic market will be encouraged.
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