Proposed Safeguard Duty May Not Hit Ongoing Solar Power Projects


Proposed Safeguard Duty May Not Hit Ongoing Solar Power Projects

Amid fears of a proposed safeguard duty on imported solar cells thwarting India’s solar mission, the government wants to ensure that the duty is prospective in nature, and does not impact ongoing solar projects, a top official in the renewable energy ministry said.

After directorate general of safeguards (DGS) this week proposed 70% safeguard duty citing “serious injury” to the domestic industry on account of increased imports, there have been concerns of solar project costs going up by as much as 40% if the duty is levied.

The Indian government has set itself an ambitious target of installing 175 GW of renewable energy capacity by 2022, of which 100 GW is to come from solar projects. Read More…

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