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Renewable energy and upcoming structural reforms

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Renewable energy and upcoming structural reforms

In an an article few days back I said post the pandemic period, is likely to come out stronger’. At that point of time it was merely a projection based on our credentials, business understanding of the fundamentals of solar, and faith in the legal and regulatory framework of Indian electricity
sector. However, the Ministry of Power on Friday afternoon, by issuing the much awaited structural electricity framework reform, has truly
reciprocated this faith, and aspirations we have as an Indian RE developer. The proposed amendment highlights the importance of renewable energy (RE) as a cornerstone in policymaker’s intent. The draft Electricity Act Amendment 2020 – let’s call it the Bill, for now,
paves the road for expeditious grid decarbonisation through renewable energy, a strengthening of the electricity market and delivers the strongest
electricity legal framework to date. The Bill takes care of all possible apprehensions of RE developers while planning RE investment in the
country. To begin, the proposed amendment expands the scope of the electricity statute to include J&K whose special status was amended
through constitutional amendment. This means that the abundant renewable opportunities in J&K which were untapped and unexplored so
far may be pursued by developers across globe.

 

Read the full story on Economics Time