scorecardresearch
Follow Us:
Thursday, August 18, 2022

Phase II of solar park gets green signal

The first scheme for “Development of Solar Parks and Ultra Mega Solar Power Projects” was rolled on December 12, 2014, with a target of 20,000 MW.

budgte, budget 2017, union budget, solar park, phase 2 solar park, arun jaitley, indian express news, india news Finance Minister Arun Jaitley

Finance minister Arun Jaitley Wednesday announced that the Centre would take up the second phase of solar park development for an additional capacity of 20,000 MW.

The first scheme for “Development of Solar Parks and Ultra Mega Solar Power Projects” was rolled on December 12, 2014, with a target of 20,000 MW.

According to a fact sheet issued by the MNRE on May 23, 2016, the central government — under this scheme — had granted the approvals to 33 solar parks of aggregate capacity of 20,000 MW to be set up in 21 states.

The Budget also proposed customs and excise duty cuts on raw materials used for manufacturing solar modules, biogas plants and wind turbines. For example, basic customs duty on all items of machinery required for systems “operating on biogas/bio-methane/ by-product hydrogen” has been reduced from 10 to 5 per cent, while the excise duty has been reduced from 12.5 per cent to 6 per cent.

Subscriber Only Stories
Delhi Confidential: Kerala football club stuck in Tashkent, S-G Tushar Me...Premium
An Expert Explains: Why a stable Kenya is in the interest of Africa and t...Premium
With fund & engineers, Taliban help rebuild gurdwara hit by Islamic S...Premium
The woes of power: A moderate approach to the discom sector might be the ...Premium

“As expected, the 10-year tax holiday and generation-based incentives for the wind sector have been phased out. There is some rationalisation of duty structure for components used in manufacturing solar modules. But there is no big bang or material announcement,” said Vinay Rustagi, MD, Bridge to India, a market research firm. — deepak patel

First published on: 02-02-2017 at 03:54:45 am
Next Story

Give senior-most IAS officer post equivalent to chief secretary: CAT to Punjab

Featured Stories

Featured Stories

Advertisement
Advertisement
Advertisement
Advertisement