Waaree Energies, Emmvee Rise After Government Retains ALMM Deadline

Shares of solar equipment manufacturers advanced on Tuesday after the Ministry of New and Renewable Energy (MNRE) said it would not grant a blanket extension for the Approved List of Models and Manufacturers (ALMM) List-II deadline beyond June 1, 2026.

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On the National Stock Exchange, Waaree Energies climbed 3.56% to ₹3,090.50, while Emmvee Photovoltaic Power gained 1.89% to ₹295.75 during afternoon trade.

In a statement issued on Monday, the MNRE said the decision was taken after reviewing stakeholder representations and conducting wider industry consultations.

Under existing rules, net-metering and open access projects commissioned before June 1, 2026 are exempt from ALMM List-II requirements related to solar photovoltaic cells. Projects commissioned after the deadline will need to comply with the new framework.

Government Rules Out Blanket Extension

The ministry said it had received multiple requests from industry participants, with some seeking an extension of the deadline while others opposed any relaxation.

During the review process, the government also examined an Office Memorandum issued by the Department of Expenditure under the Ministry of Finance on April 29, 2026. The memorandum advised that the ongoing West Asia situation should be treated as war-like conditions and recommended that project extensions, if required, should be granted only on a case-by-case basis instead of through a blanket policy.

Following consultations, the ministry concluded that a broad-based extension was not necessary. But the government said individual extensions would still be available for some renewable energy projects to protect investments already made by developers.

Case-By-Case Relief For Eligible Projects

According to the ministry, projects where solar module installation has already been completed but commissioning remains pending may qualify for additional time.

Projects where developers have completed substantial implementation steps, including land acquisition, financial closure, connectivity approvals, electrical drawing approvals and module installation or delivery, may also be considered for relief.

The ministry said developers seeking extension beyond June 1, 2026 can submit claims through a dedicated portal created by the National Institute of Solar Energy by June 30, 2026.

Applications will be evaluated by an expert committee to be constituted by the ministry based on documentary evidence submitted by project developers.

Focus On Domestic Solar Manufacturing

The government also said residential consumers participating in the PM Surya Ghar: Muft Bijli Yojana “Give It Up” campaign and voluntarily opting out of subsidies would continue under the existing scheme framework until March 31, 2027, provided applications are submitted through the national portal.

The ministry said the decision is aimed at maintaining policy stability for India’s solar manufacturing sector while supporting self-reliance in domestic solar photovoltaic production.

The clarification also comes at a time when India is increasing efforts to strengthen local manufacturing capacity across renewable energy supply chains amid global supply disruptions and geopolitical uncertainties.