Budget 2022 has everything needed for energy transition: R K Singh

Union Power Minister R K Singh said the Budget 2022-23 has everything that is required for energy transition, including a provision for additional Rs 19,500 crore to boost domestic solar equipment manufacturing by up to 45 gigawatts (GW).

In the Budget, Finance Minister Nirmala Sitharaman provided additional Rs 19,500 crore for the production-linked incentive (PLI) scheme for solar cells and modules manufacturing domestically.

This will raise the existing PLI scheme for solar equipment from Rs 4,500 crore to Rs 24,000 crore, which will translate into creating an additional manufacturing capacity of up to 45 GW in the country.