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Central Government in a bid to give a major push to the renewable energy sector, has appointed a high-level committee to prepare the national renewable energy law. The proposed law will deal with issues relating to providing renewable energy certificates, strict implementation of renewable purchase agreement and above all imposition of penalty for breach of such agreement.

Already certain state electricity regulatory commissions have passed orders with regard to renewable purchases, it needs to be  spread across the country. Similarly, the law will enable imposition of penalty for violation of such purchases as at present some state regulatory commissions have passed orders in this regard.

The Central Electricity Regulatory Commission chairman Pramod Deo told the media, “The group has already submitted the draft national renewable energy law to the ministry of new and renewable energy. The proposed law is to promote development and utilisation of renewable and sustainable sources of energy, stabilise emissions of greenhouse gases, diversify energy supplies, safeguard energy security, ensure that energy development is ecologically sustainable, protect environment and to realise the goal of sustainable development.” Deo informed that the ministry has now appointed a committee to look into the draft and come out with a new legislation.

The Indian Renewable Energy Development Agency (IRDEA) chairman Debashish Majumdar said that 12 state regulatory commissions have so far fixed percentages for purchase of renewable power. They vary from near negligible to over 10%. “The renewable energy law will enable easy implementation of such purchases across the country. The law will also facilitate tradeable renewably energy certificates.”

Majumdar said that law will incentivise investors to tape a large potential of almost 85,000 mw in the renewable sector. He informed that the generation based incentives have evoked an overwhelming response from the investors.
Courtsey- Financial Express