- Parveen Arora and Suruchi Kotoky
On November 11, 2020, the Union Cabinet had approved the introduction of Production Linked Incentive Scheme in 10 key sectors, for enhancing India’s manufacturing capabilities and exports under the Atmanirbhar Bharat/Make-in-India initiative. One of the approved sectors is “High Efficiency Solar PV Modules” for which the Ministry of New and Renewable Energy (MNRE) has been designated as the implementing ministry.
Accordingly, the MNRE issued the Production Linked Incentive Scheme ‘National Programme on High Efficiency Solar PV Modules’ dated April 28, 2021 along with its guidelines (“MNRE PLI Scheme”), to be implemented by MNRE through the Indian Renewable Energy Development Agency Limited (IREDA). Further, in pursuance to the MNRE PLI Scheme, the IREDA has recently on May 25, 2021 invited applications for selection of manufacturers of high efficiency Solar PV Modules for setting up of manufacturing capacities under the MNRE PLI Scheme. The last date for submission of applications is June 30, 2021.
In the document below, you will find an overview along with our analysis and conclusion on the MNRE PLI Scheme, for which a financial outlay of INR 4500 crore for a period of 5 years has been approved by the Union Cabinet. The MNRE PLI Scheme can be accessed here.