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BCD on Solar Modules Will Be Implemented From 1st April: FM
Finance Minister Nirmala Sitharaman has assured that BCD (Basic Custom Duty) on solar modules will be implemented from the scheduled date of April 1, 2022, a move that will save domestic players from stiff price competition from imported modules, according to industry body NIMMA. A delegation comprising officials from NIMMA, Indian Solar Manufacturers Association, and All India Solar Industries Association met Sitharaman on Thursday and flagged concerns regarding manufacturing units that are on the verge of closing owing to the current duty-free window on solar panels and cells from China and other countries. The finance minister assured them that the BCD will be implemented as per schedule from April 1, 2022, a NIMMA statement said. The delegation also appealed to her to exempt the module and cell line plant and machinery from import duty, it stated.
SECI Floats EoI For Obtaining 1.8 GW Locally Built Solar Modules
On January 3rd, the Solar Energy Corporation of India Ltd (SECI) submitted an expression of interest (EoI) last week for the sourcing of 1.8 GW of domestically produced photovoltaic (PV) modules, incorporating India-made cells. SECI is searching for vendors that can supply the modules before the end of the fiscal year in March 2024. Module makers that are interested in participating should answer back to the EoI by January 21, 2022. SECI also states that only solar producers registered with the Bureau of Indian Standards (BIS) and are part of the Ministry of New and Renewable Energy’s (MNRE) authorized solar modules and domestic manufacturers (ALMM) list would be eligible. Bearing in mind the company’s objective of 60,000 MW of non-fossil energy capacity by 2032, it seeks to enter into long-term procurement partnerships for solar PV modules to build its renewable energy portfolio, either via immediate sourcing, tie-ups or contract manufacturing.
Cabinet Approves Intra-State Transmission System–Green Energy Corridor Phase-II
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Shri Narendra Modi, approved the scheme on Green Energy Corridor (GEC) Phase-II for Intra-State Transmission System (InSTS) for addition of approximately 10,750 circuit kilometres of transmission lines and approx. 27,500 Mega Volt-Amperes transformation capacity of substations. The scheme will facilitate grid integration and power evacuation of approximately 20 GW of Renewable Energy power projects in seven States namely, Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh. The scheme is targeted to be set up with total estimated cost of Rs. 12,031.33 crore and Central Financial Assistance (CFA) @ 33 percent of the project cost i.e. Rs. 3970.34 crore. The transmission systems will be created over a period of five year from Financial Year 2021-22 to 2025-26. CFA will help in offsetting the Intra-State transmission charges and thus keep the power costs down. Thus, the Government support will ultimately benefit the end users — the citizens of India. The scheme will help in achieving the target of 450 GW installed RE capacity by 2030.
GAIL and IPICOL Sign MoU for Setting Up Clean Energy Projects
The agreement was signed by the public sector unit and the Industrial Promotion and Investment Corporation of Odisha (IPICOL) in Bhubaneswar, according to a release. The MoU seeks to prepare a feasibility study for setting up plants in areas of green hydrogen, green ammonia and renewable energy like solar and wind, the IPICOL said. It emphasises promoting the production of eco-friendly fuels in the state. Green Hydrogen will help the industries cut aggregate emissions of greenhouse gases, it said. The proposed plants will help Odisha-based heavy industries to supplement their growing power requirements, the IPICOL said. Principal Industries Secretary Hemant Sharma said there was a “very large pre-existing market” for hydrogen currently in the state.
PM & German Chancellor Hopes For Cooperative Efforts For Green Energy
Prime Minister Narendra Modi, on Wednesday, in a telephonic conversation, spoke with German Chancellor Olaf Scholz and congratulated him on his appointment. Scholz took office in place of Angela Merkel, who served as chancellor for 16 years. According to the PMO, the two leaders agreed that there was great convergence between the new German government’s administration agenda and India’s own economic strategy. “In particular, they highlighted their desire to launch new cooperation efforts in the areas of Climate Action and Green Energy, in order to assist both nations to meet their respective climate pledges,” the statement framed. They also discussed the possibilities of existing cooperation projects, such as developing investment and trade linkages and decided to broaden collaboration and exchanges in new areas. Modi said in a tweet that he is looking forward to working with Scholz to develop the India-Germany Strategic Partnership and meeting with him shortly for the sixth Inter-Governmental Consultations.
NHPC, GEDCOL to Form Joint Venture for Setting up 500-MW Floating Solar Projects in Odisha
NHPC on Wednesday said it has signed a pact with Green Energy Development Corporation of Odisha Ltd (GEDCOL) to form a joint venture (JV) for setting up a 500-megawatt (MW) floating solar power projects in Odisha. According to a BSE filing, Promoters agreement has been signed on January 4, 2022, between NHPC Limited and Green Energy Development Corporation of Odisha Limited (GEDCOL) for the formation of JV company for the development of 500 MW floating solar power projects in various water reservoirs in the state of Odisha. NHPC will hold a 74 per cent equity stake, while GEDCOL will have 26 per cent.