PM Dhara Scheme Unveiled - These stocks could be the likely beneficiaries

Power Grid will be another potential beneficiary of this scheme, along with cables and power companies such as KEI Industries, Polycab, and others due to their Medium Voltage Power Cables (MV), and Extra High Voltage (EHV) power cables capabilities. 3 Min Read The government unveiled the PM Developing Harmony and Accelerating Renewable Energy Access (DHARA) scheme on Wednesday, September 30. This was earlier known as the Green Energy Corridor and the most recent phase will be the third one after the initial two phases. As per official information, the total financial outlay for the PM Dhara scheme is pegged at ₹1,86,405 lakh crore, which is well above the ₹10,000 crore and ₹12,000 crore earmarked for phase-I and phase-II respectively.

Another ₹50,000 crore has also been allocated for Battery Energy Storage Systems (BESS) worth 50 GWh. Here are the main objectives of this scheme: Evacuate up to 135 GW of renewable power Deploy 50 GWh of Battery Storage Systems Support 900 GW of non-fossil capacity target by 2035 Reduce transmission congestion in renewable-rich states Under the implementation strategy of the scheme, the Greenfield projects will use Tariff Based Competitive Bidding (TBCB), while brownfield updates will run on a cost-plus basis. The State Transmission Utilities will act as implementation agencies.

It must be noted that the capex for this scheme is over and above the ₹7.9 lakh crore T&D capex announced by the Central Electricity Authority in March 2026 and this will be spent over 2027-2036. The capex will also involve work on 12-13 HVDC projects. Here are the potential stock beneficiaries of this scheme: First, it will be the renewable energy companies such as NTPC Green Energy, ACME Solar, Clean Max, along with wind OEMs such as Suzlon and Inox Wind.

The entire Capital Goods theme will be a beneficiary of this scheme as the implementation and other buildouts will require the services of these companies and they cater to different aspects of the buildout phase. Companies such as Larsen & Toubro, KEC International, Kalpataru Projects, GE Vernova T&D, Hitachi Energy India, Siemens Energy India, Apar Industries, Voltamp Transformers, Cummins India, ABB India and CG Power should be watched. Power Grid will be another potential beneficiary of this scheme due to its near monopoly status in the power transmission business, along with cables and power companies such as KEI Industries, Polycab , and others due to their Medium Voltage Power Cables (MV), and Extra High Voltage (EHV) power cables capabilities.

Capital Goods Companies have had a good year so far, with shares of Apar Industries more than doubling in value in the first nine months, while shares of Hitachi Energy, CG Power, GE Vernova T&D are up 67%, 33% and 33% respectively on a year-to-date basis, having cooled off from the highs made earlier this year. Home Market News PM Dhara Scheme Unveiled - These stocks could be the likely beneficiaries

Source: CNBC TV18