The Maharashtra state cabinet on Tuesday passed the New and Renewable Energy Policy 2015 and has set a target of generating 14,400 MW…

The Maharashtra state cabinet on Tuesday passed the New and Renewable Energy Policy 2015 and has set a target of generating 14,400 MW from new and renewable sources in five years. The state has set a target for 7,500 MW from solar energy, 5,000 MW from wind, around 1,000 MW from bagasse based cogeneration, 400 MW from mini hydel projects, 300 MW from agri waste and 200 MW power generated from industrial wastes.

With 1,000 MW target from cogeneration, the state expects to see around Rs 5,000 crore investment to flow into the power cogeneration business in five years. Around Rs 412 crore for this is expected to come from the Green Energy Fund.

The state is offering a 10 year electricity tax holiday for self generated power if 30% of the power is generated through cogeneration and 5% through other sources. This is expected to cost the state exchequer Rs 370 crore.

Source: FE