Prime Minister Narendra Modi said that the performance-linked incentive (PLI) scheme for high-efficiency solar PV modules will spur investments of over ₹14,000 crore and build a manufacturing capacity of 10 GW.
“We want to see our companies become global manufacturing champions, not just fulfil local demands,” Modi said at a webinar. The Government is committed to invest ₹4,500 crore in the scheme. “This is likely to increase demand for locally produced materials like EVA, solar glass, backsheet, and junction box,” he said.
“The government’s approach for the energy sector is guided by four R’s: reach, reinforce, reform, and renewable,” Modi said.
“For reach, last mile connectivity is needed. This reach needs to be reinforced by installation capacity, for that reforms are needed. Along with all this renewable energy is the demand of the time,” he said.
For reach, the government is focussed on reaching every village and every household, Modi added. “With regard to capacity reinforcement, India has become a power surplus country from a power deficit country while reforms like the UDAY scheme and PGCIL’s asset monetisation have improved the financials of the sector,” he said.