Cabinet Committee approves amendment in Mega Power Policy 2009
POWER & RENEWABLE ENERGY

Cabinet Committee approves amendment in Mega Power Policy 2009

The Cabinet Committee on Economic Affairs, chaired by PM Narendra Modi, approved a time extension of 36 months to the 10 Provisional Mega certified projects identified for furnishing the final Mega Certificates to the Tax authorities.

The extension of 36 months to furnish the final mega certificate will allow developers to competitively bid for power purchase agreement (PPA) in the future and get tax exemptions according to the Policy terms. The increased liquidity shall boost the overall growth of India while ensuring the revival of several stressed power assets.

The time period for the ten provisional mega projects that have been commissioned or partly commissioned to furnish the final Mega certificates to the tax authorities is extended to a period of 156 months from the date of import instead of 120 months. In the extension period, bids for firm power (intermittent renewable energy, storage, and conventional power combined together) would be invited in coordination with the Ministry of New and Renewable Energy (MNRE) along with the Solar Energy Corporation of India Limited (SECI).

Further, these Megaprojects are expected to take part in such bids for securing PPAs. The Ministry of Power shall also develop an alternative in this extension period, on the basis of the present electricity markets and ensure that the benefits are passed onto consumers in a competitive manner.

Image Source

Also read: MNRE modifies power procurement guidelines from hybrid projects

The Cabinet Committee on Economic Affairs, chaired by PM Narendra Modi, approved a time extension of 36 months to the 10 Provisional Mega certified projects identified for furnishing the final Mega Certificates to the Tax authorities. The extension of 36 months to furnish the final mega certificate will allow developers to competitively bid for power purchase agreement (PPA) in the future and get tax exemptions according to the Policy terms. The increased liquidity shall boost the overall growth of India while ensuring the revival of several stressed power assets. The time period for the ten provisional mega projects that have been commissioned or partly commissioned to furnish the final Mega certificates to the tax authorities is extended to a period of 156 months from the date of import instead of 120 months. In the extension period, bids for firm power (intermittent renewable energy, storage, and conventional power combined together) would be invited in coordination with the Ministry of New and Renewable Energy (MNRE) along with the Solar Energy Corporation of India Limited (SECI). Further, these Megaprojects are expected to take part in such bids for securing PPAs. The Ministry of Power shall also develop an alternative in this extension period, on the basis of the present electricity markets and ensure that the benefits are passed onto consumers in a competitive manner. Image Source Also read: MNRE modifies power procurement guidelines from hybrid projects

Related Stories

Gold Stories

Next Story
Infrastructure Transport

Jammu Division Records Highest Punctuality of 94.12%

The Jammu Division of Northern Railway (Jammu Division) set a new benchmark in operational efficiency when it achieved a single-day punctuality rate of 94.12 per cent for Mail and Express trains on July 31. This performance is the highest recorded in the division's history and surpasses the previous best of 92.59 per cent achieved on February 20, 2025. The official communique indicated that the figure represents a significant improvement in on-time arrivals and departures across the network. Railway officials attributed the outcome to meticulous planning and effective coordination between grou..

Next Story
Infrastructure Transport

Tinaighat-Kulem Rail Doubling Threatens Forest Biodiversity

A peer-reviewed study by 20 scientists has challenged the cumulative environmental impact assessment prepared by the Wildlife Institute of India for the proposed doubling of the Tinaighat-Kulem railway line in Karnataka and Goa. The study says the assessment overlooks biodiversity and ecological impacts across one of the region's most sensitive forest landscapes. The authors describe the matter as urgent given the scale of planned infrastructure. The review was published in the Journal of Threatened Taxa and was carried out by a multidisciplinary team of ecologists, social scientists, conserva..

Next Story
Infrastructure Transport

CONCOR Launches Ennore to Hyderabad Rail Freight Service

Container Corporation of India (CONCOR) has commenced a new rail freight service that links Ennore Port, part of the Kamarajar Port cluster in Chennai, with ICD Sanathnagar in Hyderabad. The new corridor provides containerised cargo movement directly between the eastern gateway port and a major inland logistics hub in the Deccan plateau. CONCOR positioned the launch as an expansion of its multi-modal offerings to trade and industry in Telangana and neighbouring regions. The service connects the port cluster through intermediate logistics nodes and establishes a dedicated rail corridor for expo..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement