PLI Scheme Expected to Draw Rs 3.4 Tn Investments in 4 Years: ICRA
ECONOMY & POLICY

PLI Scheme Expected to Draw Rs 3.4 Tn Investments in 4 Years: ICRA

According to ICRA, the Production Linked Incentive (PLI) scheme for the renewable energy sector is anticipated to attract investments worth Rs 3.4 trillion over the next four years. The scheme aims to boost private sector capital expenditure (capex) and accelerate the development of renewable energy infrastructure in India.

Under the PLI scheme, incentives will be provided to eligible manufacturers of solar PV modules, battery storage, and other renewable energy components based on their incremental sales. This initiative is expected to drive substantial investments in manufacturing facilities and contribute to the country's renewable energy goals.

ICRA highlights that the PLI scheme could significantly enhance India's manufacturing capabilities in the renewable energy sector, reducing dependence on imports and fostering domestic production. The scheme's implementation is timely, aligning with India's ambitions to expand its renewable energy capacity and achieve its climate commitments.

The private sector's increased capex is crucial for scaling up renewable energy infrastructure, meeting growing energy demand, and promoting sustainable development. The PLI scheme is designed to incentivize industry participation and spur technological advancements in renewable energy technologies.

The forecasted investments under the PLI scheme underscore its potential to reshape India's renewable energy landscape, driving economic growth, creating employment opportunities, and advancing environmental sustainability. As stakeholders gear up to capitalise on the incentives offered, the scheme is expected to play a pivotal role in India's transition towards a cleaner and more resilient energy future.

According to ICRA, the Production Linked Incentive (PLI) scheme for the renewable energy sector is anticipated to attract investments worth Rs 3.4 trillion over the next four years. The scheme aims to boost private sector capital expenditure (capex) and accelerate the development of renewable energy infrastructure in India. Under the PLI scheme, incentives will be provided to eligible manufacturers of solar PV modules, battery storage, and other renewable energy components based on their incremental sales. This initiative is expected to drive substantial investments in manufacturing facilities and contribute to the country's renewable energy goals. ICRA highlights that the PLI scheme could significantly enhance India's manufacturing capabilities in the renewable energy sector, reducing dependence on imports and fostering domestic production. The scheme's implementation is timely, aligning with India's ambitions to expand its renewable energy capacity and achieve its climate commitments. The private sector's increased capex is crucial for scaling up renewable energy infrastructure, meeting growing energy demand, and promoting sustainable development. The PLI scheme is designed to incentivize industry participation and spur technological advancements in renewable energy technologies. The forecasted investments under the PLI scheme underscore its potential to reshape India's renewable energy landscape, driving economic growth, creating employment opportunities, and advancing environmental sustainability. As stakeholders gear up to capitalise on the incentives offered, the scheme is expected to play a pivotal role in India's transition towards a cleaner and more resilient energy future.

Next Story
Infrastructure Transport

HG Infra Receives Key Bihar Project Approval from East Central Railway

HG Infra Engineering Ltd has recently received a crucial approval letter from East Central Railway (ECR) for a major railway project in Bihar. This development is expected to boost the company's growth prospects and strengthen its position in the infrastructure sector. The project involves significant infrastructure work, including the construction and enhancement of railway facilities in Bihar, a region known for its strategic importance in India?s rail network. The approval from ECR is a vital step in advancing the project, which is anticipated to contribute to improved transportation and re..

Next Story
Real Estate

Pune Railway Station to Get Heritage Redevelopment, Announces Minister

Railway Minister Ashwini Vaishnaw recently visited Pune Railway Station to announce a major redevelopment project focused on preserving and enhancing the station's heritage. The initiative aims to modernise the station while maintaining its historical charm and significance. The redevelopment project will involve extensive renovations and upgrades, including the restoration of historical architecture and the introduction of modern amenities. The plan includes enhancing passenger facilities, improving accessibility, and upgrading infrastructure to better handle the increasing passenger traffic..

Next Story
Infrastructure Energy

North Western Railway to Install 2 MW Rooftop Solar Power

The North Western Railway (NWR) is set to enhance its sustainability efforts by installing 2 megawatts (MW) of rooftop solar power across its facilities. This initiative marks a significant step in the railway's commitment to reducing its carbon footprint and embracing renewable energy sources. The project will involve the installation of solar panels on the rooftops of various railway buildings, including stations and administrative offices. By harnessing solar energy, the railway aims to offset a substantial portion of its electricity consumption, leading to both cost savings and environment..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000