Recent commencement of Change in Law payments by state power distribution companies (discoms) and Solar Energy Corporation of India (SECI) for Goods and Services Tax (GST) to solar power projects, comes as a shot in the arm for the sector. Together with safeguard duty (SFD) reimbursements, which also qualify under ‘Change in Law’, the payments will […]
The Covid-19 pandemic has dealt a severe blow to India’s solar equipment imports from China, even before various government initiatives to check imports and boost domestic manufacturing set in. As per Commerce Ministry data, Indian imports declined by 83 per cent in the April-June quarter of current fiscal, totalling $69 million (Rs 515 crore) as […]
Following curbs on import concessions in the solar energy sector, the government may levy higher taxes on wind turbine components and generators to encourage use of local equipment and give a boost to domestic manufacturing. Government sources said that the tax concessions available to the wind power sector for sourcing certain equipment required for making […]
Amid the India, China standoff the Ministry of New and Renewable Energy is planning to set up World Solar Bank, and launch a major funding initiative in a bid to strengthen international solar diplomacy. The ministry will soon propose the government to set up the World Solar Bank. The intention behind setting up this unique […]
The Director General of Trade Remedies (DGTR) in the commerce ministry has favoured continued imposition of safeguard duty on imports of solar cells, whether or not assembled in modules or panels. The DGTR’s recommendation will now go to the finance ministry that may finally decide and notify the quantum and period of the duty. In […]
Recent border conflict between India and China in the Ladakh region is now setting the ground for a first set of restrictions that India proposes to impose on imports from the Asian giant. Sources said that efforts were on at the official level to explore ways of denying Chinese firms from participating in the bids […]
Music to the ears of solar power producers setting up their projects using Chinese equipment, government proposes to exempt those having power purchase agreements (PPAs) with procuring states from the steeper customs duty levy. Sources in the power ministry said that all solar power projects having valid PPAs as on August 1, 2020 will escape […]
Coal India Ltd (CIL) and NLC India together will develop solar power assets of 3,000 MW with a likely investment of around Rs 12,000 crore, said sources speaking to PTI. The two companies recently announced that they would form a JV to develop 5,000 MW of solar and thermal power assets across the country. They […]
A new climate fund backed by philanthropic donors is aiming to trigger $2.5 billion of clean energy investment in Southeast Asia and aid the region’s green recovery after the coronavirus. The South East Asia Clean Energy Facility (SEACEF) is managed by Singapore-based Clime Capital, with an initial investment of $10 million and a focus on […]
Solar equipment imports, largely from countries such as China, may soon come under double taxation with the Director General of Trade Remedies (DGTR) looking to consider continued imposition of 15 per cent safeguard duty (SGD) on imports of solar cells and modules beyond the cutoff date of July 29. The DGTR is scheduled to do […]
