The Ministry of Power and the Ministry of New and Renewable Energy (MNRE) requested state governments and special purpose vehicles (SPV) to submit expressions of interest in April this year for the establishment of manufacturing zones for power and renewable energy equipment. Madhya Pradesh Industrial Development Corporation (MPIDC) has been declared the successful bidder. The Madhya Pradesh government will be responsible for forming an SPV within a month of approval from the scheme steering committee. The zones will be setup with a financial outlay of ?10 billion. The project’s duration is until FY 2025-26.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th November 2022 edition.
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