28 °C Singapore, SG
May 12, 2022
Latest News
European passenger plugin car market is still expanding Air Canada takes off with sustainable aviation fuel from San Francisco BrightNight expands into Australia GE Awarded 9HA Gas Turbine Order to Deliver Approximately 2 Gigawatts of Electricity in Guangdong, China Taking Action: Energy-Related Climate Change Mitigation Policies in ASEAN Meralco floats a tender of 850 MW renewable energy capacity Genex starts construction at flagship pumped hydro storage project GM bets on fuel-cell as battery shortcomings hamper clean energy transition Masdar and Cosmo Energy to explore renewable initiatives in Japan El Salvador Eyes Major Renewables Push Under New Partnership with IRENA Iberdrola eyes 3.5GW offshore wind in Philippines BP and Maersk successfully carry out marine biofuel trials The Korean way towards green growth Exxon Following Blockbuster Video to Oblivion, Investment Exec Warns Getting real about the hydrogen economy Electrification to decarbonise Singapore’s energy system New method of scoring carbon emissions to power sustainable software GoodFuels and REG collaborate on marine biofuel development SP Group and Banpu NEXT partner on smart city solutions across Asia Pacific North Sea Oil Faces ‘Death Knell’ after Shell Quits Cambo Oilfield Three Studies Predict More Frequent, Devastating Storms as Temperatures Rise China Briefing, 2 December 2021: Quarterly emissions fall; Power shortages’ impact; China-Russia energy cooperation A renewable energy company in Thailand has electric vehicle dreams China Briefing, 18 November 2021: Xi-Biden meeting; Methane emissions; ‘Historic new high’ for coal Asian Youth Demand Real Climate Action John Walker emphasises practicing ESG values in everyday life ‘The best way to predict the grid of the future is to shape it’ – SP Group CEO Analysis: Nine key moments that changed China’s mind about climate change Espinosa Warns of ‘Catastrophic’ Consequences if COP 26 Fails Rolls-Royce successfully carries out test flight on 100% SAF

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.