Solar PV manufacturing permission was granted to 11 firms, including Indosol, Reliance, First Solar, JSW, and Tata Power Solar among others. The Centre allocated 39,600 MW of domestic Solar PV module production capacity to 11 firms with a total expenditure of Rs 14,007 crore under the Production Linked Incentive (PLI) scheme for high efficiency solar PV modules (Tranche-II).
Manufacturing capacity of 7,400 MW is anticipated to be operational by October 2024, with 16,800 MW operational by April 2025 and the remaining 15,400 MW operational by April 2026.
According to the government, the Tranche-II of solar pv PLI scheme is anticipated to bring in Rs 93,041 crore in funding and create 1,01,487 employment. Of the 1,01,487 jobs, 35,010 will get direct employment and 66,477 will be indirectly employed.
The PLI Scheme has proven to be a watershed moment in India’s green environment, culminating in approximately 48 GW of domestic module manufacturing capability over the next three years. The plan has bolstered the government’s efforts to reduce the effect of global supply chain shocks as well as import reliance.
Tranche-I of the plan assigned a total combined capacity of 8737 MW between November and December 2022. Taking the two tranches together, the total domestic solar PV module production capacity allotted under the PLI plan is 48,337 MW, with the Centre providing a total assistance of more than Rs 18,500 crore.
Reference- Economic Times, Mercom India, Money Control, Business Standard, Press Information Bureau, CNBC