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To promote the “localization“ of photovoltaic modules, India needs to invest US $7.2 billion in four years!

Release date:2022-05-17 Source:Raytech Pageviews:-
The Indian government recently released a number of measures in the photovoltaic industry from 2021 to 2022, including allocating 240 billion rupees (US $3.2 billion) to promote the development of the domestic photovoltaic manufacturing industry.
India needs to invest $7.2 billion to promote the production of photovoltaic modules in the next three to four years, ceew-cef said in a report released on May 12.
The report further added that promoting improved local manufacturing could help Indian domestic component manufacturers sell 150gw of electricity at a price of 15 rupees / W by 2030, thereby earning 230 billion rupees ($3 billion) and creating about 41000 jobs. "In order to promote the localization of PV manufacturing value chain, India needs to invest US $7.2 billion (537.73 billion rupees) in the next three to four years," the report wrote
One media quoted rishabh Jain, ceew project leader, as saying that photovoltaic system is the cornerstone for India to achieve the goal of installing 500gw renewable energy by 2030. He pointed out that the current geopolitical and energy crisis showed that it was necessary to reduce dependence on imported energy and develop reliable and stable domestic supply chains in industries crucial to energy transformation.
In order to promote the development of domestic photovoltaic manufacturing industry, the Indian government has announced a number of measures for fiscal years 2021-2002, including allocating US $3.2 billion (rs. 240 billion) through the production related incentive plan, levying 25% on all imported photovoltaic cells and 40% of the basic tariff on photovoltaic modules. The first part of the production related incentive plan (PLI) plan, which is as high as rs. 45 billion, has aroused strong repercussions, Finally, some participants who may have the manufacturing capacity of 10GW photovoltaic modules were selected.
In addition to participating in the PLI program, many companies have announced or are expanding or establishing new capacity. The entry of major manufacturers such as reliance and Adani will ensure that large-scale photovoltaic systems will dominate in the next few years, rather than only dozens of developers who have installed photovoltaic systems with an installed capacity of less than 250MW so far.
R.K. Singh, Minister of electricity and new and renewable energy of India, has held a round of formal discussions with industry stakeholders on this issue, trying to find a balanced approach in the PLI plan.

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