CleanTech/ Renewable Energy, Finance, Other

Green Cess on Industry in Maharashtra funds renewable energy

As per available information, the state of Maharashtra has imposed cess of 8 paise per unit from 1st May 2008 on the sale of electricity to commercial and industrial consumers. The cess is to be used for executing schemes of generation of renewable energy.

The Electricity Act 2003 and Tariff Policy 2006 provide enabling framework for renewable energy projects in the country. Government of India has also been providing fiscal and financial incentives for renewable energy sources based power generation systems and quantum and type of incentive depends upon area, capacity, renewable energy technology, and category of beneficiary etc. Further, profits earned from sale of renewable power are exempt from income tax for any 10 years out of the first 15 years of projects’ operation, as applicable to infrastructure projects.

In addition, under an assignment from the Ministry of New and Renewable Energy the Power Grid Cooperation of India Ltd. (PGCIL) has prepared a report for augmenting renewable power evacuation infrastructure for the likely renewable power capacity addition during 12th Five Year Plan period in eight major renewable resource rich states namely Andhra Pradesh, Gujarat, Himachal Pradesh, Karnataka, Maharashtra, Rajasthan, Tamil Nadu and also Jammu & Kashmir.



No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Panchabuta's Trending Tweets

Panchabuta’s Twitter

Web Analytics Clicky
stats for wordpress
%d bloggers like this: