Waive Import Duty On Solar Modules For Pre-March 2021 Projects: Pinaki Bhattacharya

Waive Import Duty On Solar Modules For Pre-March 2021 Projects: Pinaki Bhattacharya

Finance

India’s demand for power touched an all-time high of 220 gigawatts in April and May this year, causing a severe power shortage across states. Yet, 15-gigawatts of renewable energy projects lack long-term power-purchase agreements.

This capacity auctioned before 2021 has become unviable on account of basic customs duty imposed on import of solar panels and cells effective April 1, 2022, Pinaki Bhattacharya, founder, managing director and chief executive officer at AMP Energy India, told BQ Prime.

If the levy is waived for the projects bid before 2021, when the duties were notified, that it will immediately bring 15 GW of projects on-stream and have a positive impact on power shortage issues in the near future, he said.

India had imposed the duty to boost domestic manufacturing of solar modules, besides offering production-linked incentives





Source link