Government imposes safeguard duty on solar cell imports for two years

download (3).jpgSource: Business Standard, Jul 31, 2018

New Delhi: India on Monday imposed safeguard duty on solar cells imports from China and Malaysia for two years to protect domestic players from steep rise in the inbound shipments of the product.This comes following recommendations by the Directorate General of Trade Remedies (DGTR), under the commerce ministry.

As per the notification of the finance ministry, 25 per cent safeguard duty have been imposed for July 30 to July 29, 2019, which will gradually come down to 20 per cent during July 30, 2019 to January 29, 2020 and 15 per cent during January 30, 2020 to July 29, 2020.

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Renewable energy sector needs $76 bn to meet 104-Gw balance target by 2022

download.jpgSource: Business Standard, Jul 25, 2018

Chennai: The government has set a target of installing 175 Gw of renewable energy capacity by 2022. As of June 2018, 71.33 Gw of renewable energy capacity has been installed in the country. To achieve the balance target of 103.67 Gw, an investment of around $76 billion is required.

This amount has been estimated at present capital cost, which includes $53.20 billion as debt and $22.80 billion as equity for a debt-equity ratio of 70:30, according to the Central Electricity Regulatory Commission (CERC) norms.In 2016-17, an aggregate capacity of around 11,322 Mw of renewable energy was installed in the country. In 2017-18, an aggregate capacity of around 11,887 Mw was installed.

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No new ‘scheme’ to revive hydropower projects, says Govt

Source: The Hindu Business Line, Jul 19, 2018

New Delhi: The Union Power Ministry is no longer looking at formulating a new scheme for reviving hydropower projects in the country.

Minister of State (Independent Charge) for Power and New and Renewable Energy RK Singh told the Lok Sabha, “At present, the government has no proposal to launch any new scheme for hydropower projects in the country.”

Singh was responding to a query on whether the government proposed to launch any new scheme for hydropower projects in the country. Read the rest of this entry »

Govt extends timeline for implementation of solar parks

Source: The Hindu Business Line, Jul 04, 2018

Mumbai: Following multiple requests from the industry, the Ministry of New and Renewable Energy (MNRE) has extended the timeline for implementation of of solar parks and Ultra Mega Solar Power Projects with total capacity of 40 GW by two years, from the initial deadline of FY2020 to FY2022, the Ministry of New and Renewable Energy said on Wednesday.

The timeline has been extended without any additional financial implication, the Ministry order noted.

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Brookfield to sharpen focus on renewable energy sector in India

Source: LiveMint.com, Jun 28, 2018

Mumbai: Canada-based Brookfield Asset Management Inc. is looking to increase its focus on renewable energy in India, said two people aware of the firm’s plans, on the condition of anonymity. The asset manager has so far been focussing largely on the real estate and roads segment.

The move follows Brookfield’s acquisition of American renewable energy company SunEdison’s yieldco TerraForm Global Inc.

Last December, Brookfield Renewable Partners LP had announced that, along with its institutional partners, it had closed the 100% acquisition of TerraForm Global Inc. for $750 million. Read the rest of this entry »

Safeguard duty on solar equipment may hit India’s 100 GW target: Industry

Source: The Hindu Business Line, Jun 24, 2018

New Delhi: Solar power developers have expressed concerns that safeguard duty on solar equipment may jeopardize India’s target of installing 100 GW capacity by 2022 as it would directly affect 25 GW volume under various stages of implementation and hit thousands of jobs in the segment.

The Directorate General of Trade Remedies (DGTR), a recently created umbrella authority for trade matters, is scheduled to hold a public hearing in the national capital on Tuesday with regard to imposition of 70 per cent safeguard duty on imported solar equipment.

This has led to some confusion among the industry players since the standing committee on safeguards under the finance ministry had last month decided that no such duty was required to be imposed. Read the rest of this entry »

India seen leveraging Solar Alliance meeting for foreign policy

download (3).jpgSource: LiveMint.com, Jun 18, 2018

New Delhi: The first general assembly of the International Solar Alliance will be held in India this October. The historic event is expected to coincide with the birth anniversary of Mahatma Gandhi, signalling that New Delhi would employ the first treaty-based international government organization in India as a foreign policy tool.

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