Govt allocates 39600 MW of domestic Solar PV module manufacturing capacity under PLI (See 'Corp Brief') Rs 32,578 Cr loans sanctioned for Renewable Energy projects during FY 2022-23 (See 'Corp Brief') CCI okays acquisition of share of NSPIRA Management by Puneet Kothapa, Ponguru Sindhura & Ponguru Sharani (See 'Corp Brief') Trade Marks - Defendants are infringing registered word mark MACLEODS and device mark of Plaintiff: HC (See 'Legal Desk') Raksha Mantri receives Rs. 224 Cr as dividend from BEL (See 'Corp Brief') Co Act - Companies already been struck off cannot be revived by impugned order but petitioners can file appropriate proceedings in accordance with law for seeking revival: HC (See 'Legal Desk') G20 Trade Finance Cooperation during TIWG Meeting scheduled in Mumbai tomorrow (See 'Corp Brief') Guarantees amounting to Rs. 4,06,310 crore approved under Credit Guarantee Scheme for MSMEs (See 'Corp Brief') Arbitration Act - Request for appointment of Sole Arbitrator can not be accepted as there is no agreement between parties: HC (See 'Legal Desk') EIACP takes PM's message of Mission LiFE to people (See 'Corp Brief') CPC - Since Court u/s 151 of CPC has ample power to dismiss suit having been Settled suit cannot be rejected under Order VII Rule 11 of CPC: HC (See 'Legal Desk') Centre to take up with States for accelerated use of Biomass Pellets by State GENCOS and IPPs (See 'Corp Brief') 19.8 crore ration cards digitized so far: Govt (See 'Corp Brief') Trade Mark Act - Mark 'VASUNDHRA' is device mark and registration of same does not automatically grant appellant exclusive right in respect of word 'Vasundhra': HC (See 'Legal Desk') MoU signed between NHIDCL and CSIR-SERC, Chennai for sharing innovative ideas of highway engineering (See 'Corp Brief') Trade Mark Act - Mark is entitled to be certified as a well- known trade mark as people have knowledge or recognition of trade mark in relevant fashion industry: HC (See 'Legal Desk') Sonowal inaugurates 'Sagar Manthan', Real-time Performance Monitoring Dashboard (See 'Corp Brief') Competition Act - Conduct of OP prima facie have resulted in discriminatory conditions as well as pricing for which investigation can be ordered by DG: CCI (See 'Legal Desk')

Govt has taken initiatives to incentivise investment in renewable energy

Published: Feb 04, 2023

By TIOLCorplaws News Service

NEW DELHI, FEB 04, 2023: THE Government has taken following measures to incentivise investment by private sector in the  field of renewable energy including solar energy in the country:

- Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route,

- Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025,

- Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2029-30,

- Setting up of Ultra Mega Renewable Energy Parks to provide land and transmission to RE developers for installation of RE projects at large scale,

- Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II, etc,

- Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power,

- Notification of standards for deployment of solar photovoltaic system/devices,

- Setting up of Project Development Cell for attracting and facilitating investments,

- Standard Bidding Guidelines for tariff based competitive bidding process for procurement of Power from Grid Connected Solar PV and Wind Projects.

- Government has issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators.

- Notification of Promoting Renewable Energy through Green Energy Open Access Rules 2022.

- Notification of "The electricity (Late Payment Surcharge and related matters) Rules (LPS rules).

- Launch of Green Term Ahead Market (GTAM) to facilitate sale of Renewable Energy Power through exchanges.

- National Green Hydrogen Mission approved with an aim to make India a Global Hub for production, utilization and export of Green Hydrogen and its derivatives.

With a normative cost of Rs. 4 Crore per MW for solar installation, it is estimated that an investment of around Rs. 2, 53,210 Crore has been made on installation of 63302.47 MW capacity solar projects in the country.

Since the tariff of electricity generated from solar energy has come down to as low as Rs. 1.99 per kWh, much lower than new thermal or hydro based power generation systems, solar power projects are commercially viable.

This information was given by R.K Singh, Union Minister for Power and New and Renewable Energy in a written reply in Lok Sabha yesterday.