Indian Govt to Increase PLI for Solar Manufacturers to 24,000 Cr

Union Power and New & Renewable Energy Minister R K Singh, in a press statement made on 15th November 2021 said that the Government is planning to increase funding under the production linked incentive (PLI) scheme for the domestic solar cells and module manufacturing industry to INR 24,000 Crore from the existing INR 4,500 Crore. Mr. R.K. Singh said Government is aiming to make India a solar energy exporting nation.
The present solar module manufacturing capacity in India is 8,800 MW while the solar cell manufacturing capacity is 2,500 MW. In April 2021 Union Cabinet had approved INR 4,500 crore production linked incentive (PLI) scheme for solar module and solar cell and in June 2021 Indian Renewable Energy Development Agency Ltd. (IREDA) invited bids for the same.