30 °C Singapore, SG
July 21, 2021
Latest News
BlackRock Real Assets to back Korean offshore wind farm project CIP to sell minority stake in Taiwanese offshore wind cluster Nearly 76 Gigawatt-Hours of Battery Cells Produced in U.S.A 2010–2020 Melting tropical glaciers sound an early warning Enhanced cooperation on renewable energy transition between International Renewable Energy Agency and China Decarbonising industry is key to China’s net-zero strategy Carbon Brief’s China weekly digest. Rising seas could cost Asia’s biggest cities US$724 billion by 2030 Electric Vehicle Growth is Accelerating but its Given Rise to a New Social Faux Pas Southeast Asia PR industry launches working group to curb greenwashing Asia Pacific wind and solar spend to hit $1.3trn this decade How the next 5 years can buy us a decade to solve climate change G7 leaders urged to support SAF Uncrewed survey vehicles for offshore wind farm surveys Pathway to global climate catastrophe is clear Mohdi: India’s vision for a biofuels future EGAT to pilot flexibility in Thailand China Briefing, 3 June 2021: New climate ‘leaders group’; ‘Record-breaking’ electricity consumption; ‘Artificial sun’ Wärtsilä commissions first energy storage projects in the Philippines China’s first floating wind turbine ready for installation IEEFA Update: G7 coal finance exit and why it matters for India Accelerating Renewables in Asian Cities: Opportunities for Cleaner Air Iberdrola and Mitsubishi Power partner for renewable technologies Bundestag clears way for more climate protection in transport Analysis: China’s carbon emissions grow at fastest rate for more than a decade Ørsted forms alliance for Japanese offshore wind Hitachi ABB Power Grids selected for Thailand’s largest private microgrid Taiwanese company buys majority stake in ENGIE’s storage and EV arm US ethanol exports rebound on near-record shipments to China The Pacific calls Australia to Fund Our Future – NOT Gas.

India to boost renewables by over $800 million in 2020

 

In India, the Ministry of New and Renewable Energy has been given an annual increase of 10.62% or INR57.53 billion (US$806.65 million) in the country’s 2020 national budget.

The energy sector as a whole has been allocated a budget of INR220 billion (US$3 billion).

Up to INR21.5 billion (US$301.46 million) has been allocated to develop grid-integrated solar energy projects. Off-grid solar projects will be developed using an allocated budget of INR3.66 billion (US$51.34 million).

Some of the most important points related to energy sustainability mentioned by the country’s finance minister Nirmala Sitharaman during the budget presentation include:

States and union territories will upgrade energy meters to prepaid, smart meters within the next three years to allow for consumer flexibility.

“Further measures to reform discoms would be taken,” when talking about distribution companies under financial stress.

Ageing, high-emission thermal power plants are to be shut, and the vacant land use for alternative use.

Government-owned land alongside railway infrastructure will be used for large capacity solar projects (project still a proposal.)

New domestic energy generation companies will pay a concessional corporate tax rate of 15%, on the condition that generation projects are operational by March 2023.

The government is targeting the development of 25.75 GW of solar for the Kisan Urja Suraksha Evam Utthaan Mahabhiyan scheme to support the local agricultural sector.

India’s current solar pump scheme is set to be expanded to over 2 million farmers, with a further 1.5 million farmers permitted to install solar-powered pumps, which will sell excess power generated to the grid.

Sitharaman also introduced amendments to the country’s Customs Tariff Act of 1975, stating that the government will “Create tariff items 8541 40 11 for “Solar Cells, not assembled” and tariff item 8541 40 12 for “Solar Cells assembled in modules or made up into panels”. The tariff rate for these items is 20%. However, these items will continue at ‘Nil’ BCD.”

This clause relates to basic customs duty (BCD), which means there will be no such duty on the import of solar cells and modules into the country. “Unless the earlier notification is amended to exclude the solar cells and modules from customs duty exemption, the items will continue to have 0% duty,” stated Mercom.

This article was first published on Smart Energy International and was reprinted with permission.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *