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Union Power Minister R K Singh has exuded confidence that the second version of production linked incentive (PLI-II) scheme for solar manufacturing worth Rs 19,500 crore, will help save close to Rs 1.4 lakh crore forex every year and it will also result in a huge quantity of inflows on account of exports.

The minister stated that one of the benefits expected from the PLI scheme is that about 65,000 MW per annum manufacturing capacity of fully and partially integrated solar PV modules would be installed. The scheme is expected to create direct employment of about 1,95,000 and indirect employment for around 7,80,000 people. Besides, the scheme will bring a direct investment of around Rs 94,000 crore. He noted that the national programme on high-efficiency solar PV modules aims to build an ecosystem for manufacturing of high-efficiency solar PV modules in India, and thus reduce import dependence in the area of renewable energy. It will strengthen the Atamnirbhar Bharat initiative and generate employment.

Singh further said solar PV manufacturers will be selected through a transparent selection process. PLI will be disbursed for five years post commissioning of solar PV manufacturing plants on sales of high-efficiency solar PV modules from the domestic market will be incentivized. He added that the first round PLI-I was worth Rs 4,500 crore for 8,700 MW of manufacturing capacity.