India, Kenya hold Working Group Meeting on Agriculture through Virtual Mode (See 'Corp Brief') NIFTEM-K to organise Global Platform with Participation from 25 Countries (See 'Corp Brief') IBC - Moratorium u/s 14 of IBC is intended to preserve debtor's estate from creditor actions aimed at debt recovery, but does not interdict sovereign proceedings in rem for attachment or confiscation under Benami Act: SC (See 'Legal Desk') ESIC commences 75th Foundation Year Celebrations (See 'Corp Brief') Misc - Telecom operator is liable to pay reserve price fixed for November 2012, 2G spectrum auction from February 2, 2012, date on which its licence stood quashed: SC (See 'Legal Desk') Stakeholder Consultation held for inputs on proposed Advanced Manufacturing Systems Mission (See 'Corp Brief') IPR - Registration of Device Mark is to be considered as whole and while determining deceptive similarity with another Trade Mark: HC (See 'Legal Desk') Biotechnology will power next industrial revolution: MoS (See 'Corp Brief') IPR - Trademark could not be removed simply for non-use: HC (See 'Legal Desk') Union Minister inaugurates Special Handloom Expo (See 'Corp Brief') India, Brazil sign TKDL Access Agreement for protection of Patent (See 'Corp Brief') Memorandum of Cooperation signed between Digital Bharat Nidhi and AP (See 'Corp Brief') IPR - Registered mark is liable to be removed if not used for continuous period of five years & three months prior to filing of petition, unless special circumstances are shown: HC (See 'Legal Desk') Footwear Design and Development Institute celebrates 5th Convocation Ceremony (See 'Corp Brief') 96% houses under PMAY-U 2.0 allotted for women (See 'Corp Brief') SEBI - Adjudication proceedings are nullified where the noticee has ceased to exist on account of being struck off the RoC: SEBI (See 'Legal Desk') India-Brazil MoU signed to Deepen MSME Cooperation (See 'Corp Brief') IFSCA-IICA unveil Strategic Roadmap to institutionalize Corporate Governance Ecosystem at GIFT-IFSC (See 'Corp Brief') Grant support extended to 5 Innovators under CSR-backed Programme (See 'Corp Brief') Misc - Notice u/s 91 of CrPC cannot be issued to accused person to compel them to furnish information that is based on their personal knowledge: HC (See 'Legal Desk') MoS holds bilateral Talks with Rwanda ICT Minister (See 'Corp Brief') India, Brazil sign MoU to strengthen and secure steel supply chain (See 'Corp Brief') Misc - SICA - failure to repay dues or subsequent financial incapacity cannot constitute cheating in he absence of fraudulent intent at time of inducement: HC (See 'Legal Desk') Supreme Court Clears Path For Single Insolvency Proceedings Against Linked Group Companies (See CORP EINSICHT)

Print

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.

TIOL CORP SEARCH

TIOL GROUP WEBSITES

taxindiaonline
taxindiainternational
tioltube
TKF
TIOLawards
A TIOL Website. Copyright © 2025 TIOLcorplaws.com All rights reserved.