Indian Economy News

Government allocates 39,600 MW of domestic Solar PV module manufacturing capacity under PLI (Tranche-II)

A total capacity of 39,600 megawatts (MW) of domestic Solar PV module manufacturing capacity has been allocated by the Government to 11 companies with a total outlay of US$ 1.69 billion (Rs. 14,007 crore) under the Production Linked Incentive Scheme for High-Efficiency Solar PV Modules (Tranche-II).

By October 2024, the manufacturing capacity of over 7,400 MW is expected to be operational. Additionally, a 16,800 MW capacity is expected to be operational by April, 2025, and the rest 15,400 MW by April, 2026. The Tranche-II is expected to bring an investment of about US$ 11.26 billion (Rs. 93,041 crore) along with employment generation of 101,487.

Mr. R.K. Singh, the Union Minister for Power and NRE stated that India is on its way to jumping up in the value chain in the production of high technology Solar PV Modules, which is a major step in making India Aatmanirbhar in the solar manufacturing sector. “The PLI Scheme has proved to be a watershed event in India's Renewable landscape resulting in around 48 GW domestic module manufacturing capacity within the next three years,” he added.

Under Tranche-I, in November-December 2022, an integrated capacity of about 8,737 MW was allocated.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.