Cabinet Committee on Economic Affairs approved amendments to Mega Power Policy 2009

Jan 3, 2014 18:38 IST

The Cabinet Committee on Economic Affairs approved amendments in the Mega Power Policy 2009 on 2 January 2014.

The amendments will clear the road blocks in the realization of provisional Mega Power projects.

The objective is to increase power availability to boost overall growth of the country and also ensure that consumers are reasonably charged for electricity supplied.

image

The major amendments to the Mega Power Policy 2009 are:

• The developer must tie up at least 65 percent of installed capacity through competitive bidding.

• Remaining 35 percent of installed capacity will be allocated under regulated tariff as per the respective State government policies.

• The thermal power projects of 1000 MW and above, capacity and hydro power projects of 500 MW and above are allowed duty-free equipment imports.

• To avail the a benefits, project developers must submit status certificate of the provisional mega power projects along with fixed deposit receipt from any scheduled bank as a security for a term of 36 months.

• Extend the maximum time period to 60 months instead of 36 months from the date of import for provisional mega projects for furnishing final mega certificates to tax authorities.

• The dispensation will be one time and limited to 15 projects which are located in the States having mandatory host State power tie up policy of PPAs under regulated tariff. 

 

 
If you have any Question/Point on the above information, please ask/discuss it in the Current Affairs Group

Is this article important for exams ? Yes11 People Agreed
Read more Current Affairs on: CCEA , Mega Power Policy

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK