Government to promote and create new markets in renewable energy sector

Government have taken several initiatives for promotion and creation of new markets in the renewable energy sector. These include : 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 June 30, 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 on a plug and play basis. Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM- KUSUM), Solar Rooftop Phase II, and 12,000 MW CPSU Scheme Phase II. Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power. 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. The government has issued orders that power shall be dispatched against a Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators. Implementation of a Production Linked Incentive (PLI) scheme for solar PV manufacturers for Rs. 240 billion. Imposing Basic Customs Duty on cells and modules to encourage domestic manufacturing. Notified the National Bioenergy Energy Programme with an outlay of Rs 8.58 billion under Phase I to promote waste to energy, biomass and biogas programmes. Promulgated the Green Open Access Rules to enable the commercial and industrial sector to generate and procure energy for their own consumption. Also read: Shyam Metalics acquires Mittal Corp NHIDCL signs MoU with NIT Manipur for highways construction