|
The Union Minister of Heavy Industries, Dr. Mahendra Nath Pandey, today announced the sanction of Rs. 800 crores under FAME India Scheme Phase II to the PSU Oil Marketing Companies (OMC) - Indian Oil (IOCL), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - for setting up 7432 public fast charging stations across the country. The Committee headed by DG BEE recommended certain changes to improve the viability of the development of public charging infrastructure. It includes supporting the upstream infrastructure (such as distribution transformer, LT & HT cables, AC distribution boxes, circuit breakers/isolators, protection equipment, tubular or PCC mounting structures, fencing and civil work) which generally cost up to 60% of overall cost for setting up a Public EV charging station. The upstream infrastructure comprises of the money that is to be paid by ChargePoint Operators to the DISCOMs to obtain electricity connection. Based on the recommendation of committee, MHI approved financial assistance for setting up upstream infrastructure of up to 80% upstream infrastructure. This will make installation of charging stations easier by reducing the upfront cost. In addition, the earlier subsidy of 70% on EV Supply Equipment will continue as before. The installation is expected to be completed by March 2024. At present, there are about 6,586 charging stations across the country. The addition of the new 7,432 public charging stations will be a significant push to EV charging ecosystem. On March 27, 2023, the Ministry of Heavy Industries has released 70% of this sum, i.e., Rs. 560 crores, to OMC (BPCL, IOCL, and HPCL) as the 1st installment of the total amount of Rs. 800 crores which sanctioned for the installation and commissioning of upstream infrastructure and charging equipment of EV public charging stations at respective retail outlets in the country. Powered by Capital Market - Live News
|