Home India Renewable energy export policy for Andhra Pradesh announced
Renewable energy export policy for Andhra Pradesh announced

Renewable energy export policy for Andhra Pradesh announced

0
0

Amaravati: A renewable energy export policy for Andhra Pradesh was announced by the state government on Friday to facilitate the setting up of 120 GW solar, wind and solar-wind hybrid energy projects.

The policy would also promote the establishment of renewable energy equipment-manufacturing facilities.

Under the new policy which would be in force for five years, the government would lease out five lakh acres of land to private developers for setting up renewable energy projects for a period of 30 years.

Power generated from the projects would be exported to other states, Energy Secretary Srikant Nagulapalli said in an order.

There would not be any obligation on part of the power distribution companies in the state to procure electricity produced under the policy, he said.

Also, banking of energy on hourly, intra-day, daily, weekly, monthly or yearly basis and drawal would not be allowed.

The policy has been brought out to tap the huge untapped potential and attract private investments to boost the local economy and generate additional revenue to the government.

The New and Renewable Energy Development Corporation of AP Limited (NREDCAP) would be the nodal agency under the new policy to implement the projects.

‘Allocation of renewable energy resource potential in any area to developers will be done on a first-come-first-serve by NREDCAP through online applications,’ Srikant said.

‘Priority will be given to developers intending to set up energy export projects along with manufacturing facilities in the state,’ he said.

Additional incentives would be extended to developers seeking to establish new equipment manufacturing facilities and ancillaries related to renewable energy as they contribute to the states economic development besides creating employment.

Priority allotment of land on a long-term lease, exemption from payment of electricity duty for a period of 10 years from date of commencement of manufacturing activities would be the additional incentives, the Energy Secretary said.

Besides these, there would be regular incentives under the prevailing industrial promotion policies, he added.

Source: PTI
Anand Gupta Editor - EQ Int'l Media Network
Open chat