A report in Hindu - Business Line suggests that the Department of Information Technology is likely to extend the deadline for solar manufacturing firms to achieve financial closure. DIT had earlier asked 12 solar firms to achieve financial closure before 31 August 2009 to be eligible for the incentives under the Special Incentive Package Scheme (SIPS). However, only six-eight firms have reportedly managed to arrange for funds for their proposed projects so far.
The government is estimated to have received proposals from 17 solar firms under the SIPS policy of which 12 were given in-principle approval based on the technical criteria.
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