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HC order could boost renewable energy in Karnataka

HC order could boost renewable energy in Karnataka

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Quashing the order dated May 14, 2018 passed by the KERC, Justice S Sujatha allowed a batch of petitions filed by Renew Power Limited and other companies.

BENGALURU: In a major judgment that would boost the renewable energy production in Karnataka, the Karnataka High Court has made it easier for renewable energy companies to set up their plants in the state. The High Court has quashed the order passed by the Karnataka Electricity Regulatory Commission (KERC), which withdrew concessions on wheeling and banking charges to these companies.

Quashing the order dated May 14, 2018 passed by the KERC, Justice S Sujatha allowed a batch of petitions filed by Renew Power Limited and other companies. “Neither in the impugned order nor in the statement of objections filed by the KERC, are there satisfactory reasons of public interest warranting such withdrawal cited.

The concessions are only for 10 years. A cooling period or tariff holiday cannot be withdrawn and trap the investors after securing the investments,” the judge said while referring to the exemptions announced in Global Investors Meet 2016.

Source: newindianexpress

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Anand Gupta Editor - EQ Int'l Media Network