Government takes several initiatives to promote and create new markets in renewable energy sector – EQ Mag

Government have taken several initiatives to 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 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 on a plug and play basis,
• 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,
• 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.
• Implementation of Production Linked Incentive (PLI) scheme for solar PV manufacturers for Rs. 24,000 crores.
• Imposing Basic Customs Duty on cells and modules to encourage domestic manufacturing
• Notified the National Bioenergy Energy Programme with an outlay of Rs 858 Cr 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/procure energy for their own consumption.

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