comScore
Active Stocks
Fri Sep 29 2023 15:59:14
  1. Tata Steel share price
  2. 129 1.78%
  1. NTPC share price
  2. 245.65 3.3%
  1. Power Grid Corporation Of India share price
  2. 199.85 -0.45%
  1. State Bank Of India share price
  2. 598.7 1.48%
  1. Wipro share price
  2. 406.25 0.11%
Business News/ Industry / Infrastructure/  Govt to restructure subsidy for EV charging infra under FAME-II
Back

Govt to restructure subsidy for EV charging infra under FAME-II

Currently subsidy is not provided for upstream infrastructure such as setting up of transformers for charging infrastructure, which the Centre plans to provide now

Oil marketing companies plan to set up EV charging infrastructure along 8-10 major national highways by 2025. (Photo: Bloomberg)Premium
Oil marketing companies plan to set up EV charging infrastructure along 8-10 major national highways by 2025. (Photo: Bloomberg)

NEW DELHI : Centre is planning to change the subsidy structure for setting up of EV charging infrastructure under the FAME-II scheme in a bid to provide more support to the companies setting up charging stations, said Alok Kumar, the union power secretary on Thursday.

Speaking at an event, ‘INSIGHT2022’, the official said that in terms of charging infrastructure has forward looking policy and no licensing for public charging infrastructure.

 “We are going to restructure the subsidy part for charging stations under FAME," he said.

Speaking to reporters on the sidelines of the event, Kumar also said that currently subsidy is not provided for upstream infrastructure such as setting up of transformers for charging infrastructure, which the Centre plans to provide now.

 “We are discussing...the subsidies given for charging infrastructure, there is no subsidy for upstream (infrastructure)..transformers, for which discoms take money," he said.

He also said that the focus will be largely on supporting the charging stations set up along highways and expressways at petrol pumps and those installed at bus depots in small towns.

 “We will be pay (the subsidy) to the OMCs and they will pay to the discom."

Oil marketing companies plan to set up EV charging infrastructure along 8-10 major national highways by 2025. The charging infrastructure will be part of an OMC plan to set up around 20,000 charging stations across by 2025.

Speaking on the anticipation of another coal crisis later in September, the official said that the country is prepared and a power crisis is unlikely during the festive season this year.

He said that the over 20 million tonne of coal have been imported out of which 15 million tonne have been utilized. “Import will be need based. If needed we will import," Kumar added.

The country witnessed coal crisis scenarios in September-October last year and April-May this year, following which, Centre direct power generating companies to import coal to meet the surging demand.

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

ABOUT THE AUTHOR
Rituraj Baruah
Rituraj Baruah is a senior correspondent at Mint, reporting on housing, urban affairs, small businesses and energy. He has reported on diverse sectors over the last six years including, commodities and stocks market, insolvency and real estate. He has previous stints at Cogencis Information Services, Indo-Asian News Service (IANS) and Inc42.
Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 15 Sep 2022, 08:22 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App