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Posted on Nov 22, 08:59PM | UNI
The Punjab Cabinet today approved the enactment of 'New and Renewable Sources of energy (NRSE) Policy- 2012', to develop and promote new and renewable sources of energy.
A decision to this effect was taken by the Cabinet in its meeting held under the Chairmanship of Punjab Chief Minister Parkash Singh Badal here.
Stating this here today, a spokesman of the Chief Minister's Office said that the policy was aimed at maximising and improving the share of new and renewable sources of energy to 10 per cent of the total installed power capacity of the state by 2020 besides promoting renewable energy initiatives for meeting energy/lighting needs.
The policy would also focus on creating conducive conditions to woo private sector investments in NRSE projects along with broader participation by public by giving a slew of incentives in terms of 100 per cent electricity duty, exemption from VAT and Entry Tax on the equipment, machinery for the setting up of NRSE Power plants, exemption of Stamp Duty and Registration Fee, exemption of Change of Land Use (CLU) fee, External Development Charges (EDC) or other charges.
The entrepreneurs keen on setting up NRSE projects would be provided with the facility of single window through the Punjab Energy Development Agency (PEDA)- the nodal agency for implementation of such projects, to ensure requisite clearances expeditiously.
Under the policy the interested entrepreneurs and investors would be eligible for all benefits/incentives under Mega Projects and Industrial Policy.
The policy would focus to generate nearly 400 MW Power through Non Conventional and Renewable sources of energy in the state by year 2017.
The new policy would also be instrumental in bridging the gap between the demand and supply of Power besides ensuring quality power to the consumers at affordable rates.
The thrust area of NRSE would include setting up of small and mini/micro hydro plants, biomass including co-generation, Solar Photovoltaic, Solar Thermal, urban municipal and industrial solid/liquid wastes, Solar power generation and innovative technology based wind turbines.