The government announce that they will soon increase the funding under the (PLI) production linked incentive plan for the module manufacturing & domestic solar cells to Rs 24,000 crore from the existing Rs 4,500 crore to make India an exporting nation.
RK Singh minister of Power and new & renewable energy said the present solar module manufacturing capacity in the country is 8,800MW, although the solar cell manufacturing capacity is 2,500MW.
In April, the Cabinet had confirmed a Rs 4,500-crore PLI scheme for solar modules. The plan is goal at adding 10,000MW manufacturing capacity of integrated solar modules required direct investment of Rs 17,200 crore currently.
With the improve in investments , allocation, and manufacturing capacity schemed under the PLI scheme would further grow.
Under the plan solar pv manufacturer will be selected through a clear competitive bidding process.
The Centre is set to improve the funding under the production-linked incentive (PLI) scheme for the domestic solar cells and module manufacturing to Rs 24,000 crore from the existing Rs 4,500 crore to make India an exporting country.