Apex industry body EPTA urges govt to extend ISTS charges waiver till March 2026
Investments of about ₹ 2 lakh crore will be impacted if a relief is not given to the players in the form of extension in the waiver, G P Upadhyaya, the Director General of EPTA said while speaking to the media in the national capital.
The government had announced a waiver for solar and wind projects to be set up and commissioned by June 30, 2025.
Upadhyaya said "around 30 GW green capacity are under advance stages of development across various states. These projects are unlikely to be set up before June this year on account of multiple reasons".
The capacity has been delayed due to reasons beyond power companies' control and they may move to CERC (Central Electricity Regulatory Commission) for solutions that may further delay in commissioning of these projects spread over states of Rajasthan, Gujarat, Madhya Pradesh, Andhra Pradesh, Tamil Nadu, Maharashtra among others.
In some places there is issue of land availability, local issues, Great Indian bustard (a bustard is especially found in Rajasthan and Gujarat), he said in reply to a question on reasons for delay in projects.
On a solution, the DG said, "We are not seeking a blanket extension. We are only proposing that the projects which have achieved key development milestones, such as securing financial closure, acquiring at least 50 per cent of required land, and placing key equipment orders, should be granted a 6-9 month window to avail the ISTS waiver benefits."
As another alternative, Upadhyaya suggested recommended a more gradual phase-out of the waiver, starting with a 10 per cent withdrawal every year instead of the proposed 25 per cent.
Such a calibrated approach would significantly ease the impact of the waiver's withdrawal on the cost of green power, thereby allowing RE power to stay competitive and attract more investments in this key sector.
The industry is of the view that the proposed withdrawal at 25 per cent per year will disrupt ongoing projects, jeopardise investments, and undermine cost competitiveness, especially for commercial and industrial (C&I) consumers who already pay among the highest electricity tariffs globally, he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
an hour ago
- News18
Asian shares mixed after Wall Street sets more records for US stocks
Agency: PTI Last Updated: Bangkok, Jul 28 (AP) Stock markets in Asia were mixed on Monday after US stocks rose to more records as they closed out another winning week. US futures and oil prices were higher ahead of trade talks in Stockholm between US and Chinese officials. European futures rose after the European Union forged a deal with the Trump administration calling for 15% tariffs on most exports to the US. The agreement announced after President Donald Trump and European Commission chief Ursula von der Leyen met briefly at Trump's Turnberry golf course in Scotland staves off far higher import duties on both sides that might have sent shock waves through economies around the globe. Tokyo's Nikkei 225 index lost 1% to 41,056.81 after doubts surfaced over what exactly the trade truce between Japan and US President Donald Trump, especially the $550 billion pledge of investment in the US by Japan, will entail. Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official, who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump's direction. Hong Kong's Hang Seng index gained 0.4% to 25,490.45 while the Shanghai Composite index lost 0.2% to 3,587.25. Taiwan's Taiex rose 0.3%. Elsewhere in Asia, South Korea's Kospi was little changed at 3,195.49, while Australia's S&P/ASX 200 rose 0.3% to 8,688.40. India's Sensex slipped 0.1%. Markets in Thailand were closed for a holiday. On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record. Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%. But Intell fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars. Companies are under pressure to deliver solid growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug 1. Apart from trade talks, this week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the US government money on its debt repayments. Fed Chair Jerome Powell has said he is waiting for more data about how Trump's tariffs affect the economy and inflation before making a move. The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates. In other dealings early Monday, US benchmark crude oil gained 24 cents to $65.40 per barrel. Brent crude, the international standard, also added 24 cents to $67.90 per barrel. The dollar rose to 147.72 Japanese yen from 147.71 yen. The euro slipped to $1.1755 from $1.1758. (AP) NSA NSA (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 28, 2025, 11:15 IST News agency-feeds Asian shares mixed after Wall Street sets more records for US stocks Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
an hour ago
- News18
TCS shares decline nearly 2 pc on layoff announcement
Agency: PTI Last Updated: New Delhi, Jul 28 (PTI) Shares of Tata Consultancy Services (TCS) declined nearly 2 per cent on Monday after the company announced that it will lay off about 12,000 employees of its global workforce this year. The stock dipped 1.69 per cent to Rs 3,081.20 on the BSE. At the NSE, it went lower by 1.7 per cent to Rs 3,081.60. India's largest IT services firm TCS is set to lay off about 2 per cent, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades. As of June 30, 2025, TCS's workforce stood at 6,13,069. It increased its workforce by 5,000 in the recently concluded June quarter. The move is part of the company's broader strategy to become a 'future-ready organisation", focusing on investments in technology, AI deployment, market expansion, and workforce realignment, TCS said in a statement. 'Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2 per cent of our global workforce, primarily in the middle and the senior grades, over the course of the year," it said. TCS will provide appropriate benefits, outplacement, counselling, and support to the impacted employees, it added The move comes at a time when India's top IT services companies have delivered single-digit revenue growth in Q1FY26, capping off a somewhat-sobering June quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decision-making. PTI SUM SUM ANU ANU (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: July 28, 2025, 11:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
an hour ago
- News18
Kotak Mahindra Bank shares tank nearly 7 pc as Q1 profit drops
Agency: PTI New Delhi, Jul 28 (PTI) Shares of Kotak Mahindra Bank on Monday tumbled nearly 7 per cent amid disappointing June quarter numbers from the company. The stock dropped 6.95 per cent to Rs 1,977.20 on the BSE. At the NSE, it tanked 6.94 per cent to Rs 1,977. Kotak Mahindra Bank on Saturday reported a consolidated net profit of Rs 4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions. The profit in the year-ago period was Rs 7,448 crore, but it had included gains of over Rs 3,000 crore on its stake sale in the general insurance arm, while the net profit for the March quarter stood at Rs 4,933 crore. On a standalone basis, the private sector lender's net profit dropped 7 per cent year-on-year to Rs 3,282 crore, which was attributed to reverses on the core income front due to rate cuts by the RBI, slower growth in fee income and also higher provisions. The core net interest income grew 6 per cent to Rs 7,259 crore on the back of a 14 per cent loan growth, but restricted by a 0.37 per cent narrowing in the net interest margin to 4.65 per cent. PTI SUM ANU Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
