Following the Union Budget announcement that photovoltaic (PV) cells and modules would now incur customs duty, the Ministry of New and Renewable Energy (MNRE) clarified that the effective basic custom duty would be zero. The Budget had a provision that levied a 20 per cent basic customs duty on PV cells and modules. A notice issued by the MNRE also asked solar manufacturers to list items they would like to be exempted from the list.
Union minister Nitin Gadkari on Thursday urged industry players to join hands with the government for the proposed electric lane on Rs 1.03 lakh crore Delhi-Mumbai Expressway while promising to provide policy support to serious players. He said while a stretch of the Delhi-Mumbai Expressway is planned as electric lane, the Delhi-Jaipur part of the 1,320 km expressway will be completed before Diwali.
The Parliamentary Standing Committee on Energy has pulled up the Ministry of New and Renewable Energy (MNRE) for failing to meet the targets for capacity addition over years. The failure could hamper the efforts at meeting the larger national target of reaching 175 Gigawatt (GW) capacity by 2022, it has said. The ministry could achieve only 11,319 Megawatt (Mw) of grid-connected RE capacity addition against a target of 16,560 Mw in 2016-17. It managed to achieve only 11,876 Mw of the targeted 14,445 Mw in 2017-18.
Tata Motors, a USD 44 billion company, on Thursday said that it has won a tender from state-owned Energy Efficiency Services Ltd (EESL) to supply its Tigor Electric Vehicles (EVs) to state power distribution company Uttar Gujarat Vij Company Ltd. (UGVCL). As per the deal, the leading auto manufacturer will deploy Tigor EVs in Gandhinagar and Ahmedabad cities in the state of Gujarat. Moreover, the first batch of Tata Tigor EVs was flagged off today by Saurabhbhai Patel, Minister of Energy, and Mahesh Singh, Managing Director of UGVCL along with dignitaries from the two companies.
In a bid to standardise the various parts of the electric vehicle (EV) ecosystem, several constituents, including original equipment manufacturers (OEMs), have come together to define standards. The move is primarily aimed at commercial vehicles that will ply with swappable batteries. The OEMs — which include Mahindra & Mahindra, Lucas TVS, Okinawa, Kinetic, GEM, Ashok Leyland, Exicom, Amara Raja Batteries and Exide — are involved in preparation of these specifications.
Auto component maker Omega Seiki believes it is easier to target the B2B fleet segment in cargo three-wheelers with e-commerce and last-mile delivery because entry barriers are comparatively lesser. At the Auto Expo 2020, the company made a foray in the vehicle manufacturing space with the launch of its Singha and Singha Max models priced at Rs 3.5 lakh and Rs 3.6 lakh (ex-showroom), having a loading capacity of 500 kg each.
A number of recent policy positions have undermined growth in India’s renewable energy sector. However, a course correction now can put the country back on track to reach the ambitious “450 GW by 2030” renewable energy target—finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). In IEEFA’s view, “The opportunity cost of delaying India’s electricity sector transition is too high. International investors are seeking policy certainty and commitment from the Indian government.
Accounting standard setter Institute of Chartered Accountants of India (ICAI) is set to recommend greater disclosure by companies on how they are helping to meet sustainable development goals, ICAI president Atul Kumar Gupta said at a briefing here. ICAI will first set up an in-house ‘sustainable accounting standards board’ with members from all economic regulators to frame suggestions regarding what more disclosure should companies make in this context and will share that with the global accounting rule maker International Accounting Standards Board (IASB) for adoption, explained Gupta.
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