National Biodiversity Authority releases Rs 18.3 Lakh to Committees in UP and Sikkim (See 'Corp Brief') IBC - Section 16(2) of IBC clearly requires the IRP to be appointed as suggested by Financial Creditor or Corporate Debtor & such provision does not allow any deviation: HC (See 'Legal Desk') Kurian calls for active registration under NFDP (See 'Corp Brief') PMLA - Provisions of PMLA over other statutes related to property encumbrances; attachment of property is tenable where it is acquired through proceeds of crime: SAFEMA TRIBUNAL (See 'Legal Desk') DPIIT, Primus Partners Pvt. Ltd. ink MoU to bolster startup ecosystem (See 'Corp Brief') PBPT Act - a land sale is indeed a benami transaction, where payment is made by beneficial owner for future benefit of her family, while land is registered in name of somebody else: SAFEMA Tribunal (See 'Legal Desk') DPIIT, Kotak Mahindra Bank ink MoU to enhance financial & non-financial support for startups (See 'Corp Brief') IBC/RTI - CPIO not required to generate, interpret, or explain records; appeal against FAA's order is not tenable where all relevant information is provided: IBBI (See 'Legal Desk') Centre plans inspection drives and field verification to ensure compliance (See 'Corp Brief') India continues to rank 3rd in Annual Forest Gain (See 'Corp Brief') RERA - Promoters are mandatorily required to comply with statutory condition of pre-deposit u/s 43(5) of Real Estate (Regulation and Development) Act, 2016 before appeal can be entertained: HC (See 'Legal Desk') Government intervention and Corporate governance (See CORP EINSICHT) Prof Sood launched 'AI Playbooks for Agriculture and SMEs' (See 'Corp Brief') SARFAESI - Once scheme of arrangement is sanctioned in particular manner and is acted upon, it is no longer permissible for secured creditor to resile therefrom unilaterally: HC (See 'Legal Desk') CCI nod to Setu AIF Trust to acquire stakes in Edelweiss Asset & Edelweiss Trusteeship (See 'Corp Brief') IPR - Mere adoption of product-by-process format would not result in novel product being downgraded to Section 48(b) of Patent Act: HC (See 'Legal Desk') CSIR hosts Capacity Building Workshop for Dissemination of Indian Knowledge System (See 'Corp Brief') Competition Act - issues pertaining to unauthorized business operations, public health & regulatory violations, not demonstrating any anti-competitive agreement or concerted action u/s 3 of the Act, cannot be looked into by CCI: CCI (See 'Legal Desk') 12 lakh Railway Employees working Day and Night during Festive Season: Vaishnaw (See 'Corp Brief') A&C - Restrictions contained in Code of Civil Procedure apply even in cases relating to enforcement of foreign arbitral awards: HC (See 'Legal Desk') Ministry of Mines introduces Timelines to Fast-track Operationalisation of Auctioned Blocks (See 'Corp Brief') RTI/IBC - Mechanism of the RTI Act cannot be commandeered for grievance redressal, policy suggestions, or compelling interpretations of prior responses: IBBI (See 'Legal Desk') Supreme Court Restores JSW's Resolution Plan in Bhushan Power Case: A Pragmatic Turn in IBC Jurisprudence (See CORP EINSICHT ) BSNL turns profitable after 18 Years: Scindia (See 'Corp Brief') IBC - Withdrawal of CIRP cannot be permitted merely on the basis of a unilateral settlement with one minor creditor, particularly when other bigger Financial Creditors oppose it: NCLT (See 'Legal Desk') Chouhan to meet Ministers of 11 Ministries for 'Pradhan Mantri Dhan-Dhaanya Krishi Yojana' (See 'Corp Brief') SEBI - PayTM founder held guilty of circumventing SEBI regulations to unlawfully grant ESOPs to self and brother by mis-representing promoter status and control - contravened disclosure & eligibility norms of SEBI - barred from accepting ESOPs for three-year period: SEBI (See 'Legal Desk') NITI Aayog's Women Entrepreneurship Platform and DP World launch 'We Rise' initiative (See 'Corp Brief') A&C - Mere pendency of formal signature by one party, when other party has signed agreement after reading its terms including arbitration clause, does not prevent parties from being referred to arbitration: HC (See 'Legal Desk') MoS unveils Curtain Raiser for 4-day India International Science Festival (See 'Corp Brief') PMLA - Secured creditor such as finance company not left without remedy, where properties acquired even prior to scheduled offence period are attached as value equivalent: SAFEMA Tribunal (See 'Legal Desk')

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.