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Punjab Announces Highest Ever Incentives Under New And Renewable Energy Policy

Exemption In Electricity Duty,No Entry Tax, VAT And CLU

Bikram Singh Majithia

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5 Dariya News

Chandigarh , 08 Aug 2012

The Punjab Government today announced the most attractive package for Renewable energy investors under the New and Renewable energy Policy 2012 announced today. Giving the details of new policy, The Non Conventional Energy Minister of Punjab Bikram Singh Majithia said that to meet the increasing demand of clean energy and to reduce the burden on conventional energy resources, the Punjab Government has announced the various incentives for the renewable energy projects to be set up in the state. Talking about the announced incentives, The Minister said that the Punjab Government would provide Wheeling and banking facilities to the investors. Besides that the Punjab Government has decided to provide 50 % exemption on electricity duty on the power used during construction period by the investors. He also said that 100% Entry Tax exemption would also be given to the project holder in respect of all supplies made by setting up of the New Renewable Energy Projects. Besides that the Government has also announced VAT exemption on equipments required for these projects, he added. The Minister further said that Government land, if available would be provided on lease for a period of 38 years having  no CLU, EDU and any other fees for setting these projects. He said that with that incentives Punjab would be able to promote investment through Private/Public sector partnership in the areas of Mini Hydel projects, co-generation, Biomass, Solar Energy, Wind Power etc for systematic and faster development of renewable energy sources in the state. He said that the Punjab Government has set a target of 1000 MW power production from Non Conventional Energy projects till 2017. He further said that the State Government would provide the all clearances in a time bound manner through a single window system mechanism within a period of 60 days. He further said that solar power projects less than 5 MW capacity would be exempted from obtaining any NOC/consent under Pollution Control Laws from the PPCB. Majithia said that Punjab was facing a big problem of Rice Straw, which was burnt in the fields by the farmers across the state causing a great depletion of environment. He said that presently Punjab has a more than 27 Lac Acres area under Rice cultivation which produced 21 Lac MT rice straw which can be used as a raw material in Biomass Plants. He said that to attract the giant players of Biomass sector , the Punjab Government has offered highest tariff  across the country , Rs 5.83 Per Unit to purchase the power generated by the Biomass plants situated in the state. He said that presently Andhra Pradesh has offered Rs 5.18, Haryana Rs 5.65, Maharashtra Rs 5.74, Rajasthan Rs 5.16, TamilNadu Rs 5.12, UP Rs 5.24 Per Unit to purchase the power from Biomass Plants. 

 

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