Government to enhance funding under PLI for solar manufacturing to ₹24,000 cr, says R.K. Singh

The PLI scheme — National Programme on High Efficiency Solar PV Modules — approved by the Union Cabinet, is aimed at reducing import dependence in a strategic sector like electricity

The government will soon enhance the funding under the production linked incentive (PLI) scheme for the domestic solar cells and module manufacturing to ₹24,000 crore from the existing ₹4,500 crore to make India an exporting nation.

"We brought the PLI scheme [for solar cells and modules] worth ₹4,500 crore. We invited bids and we got 54,500 MW manufacturing capacity of solar equipment. We asked the government to sanction ₹19,000 crore more under the PLI, which was approved [in-principle]. Now we would have a PLI of ₹24,000 crore. We would be exporting solar equipment," Power and New & Renewable Energy Minister R.K. Singh told PTI.

The minister also informed that at present solar module manufacturing capacity in the country is 8,800 MW while the solar cell manufacturing capacity is 2,500 MW.