Regional (M.P & C.G) NEWS
New wind energy project policy-2012 in MP
January 25, 2012 Visionmp.com news service
BHOPAL (MPINFO): A cabinet meeting chaired by Chief Minister Shivraj Singh Chouhan endorsed state’s new wind energy project policy-2012. Following implementation of this policy, the pace of establishment of technically feasible 1200 MW wind energy projects will be accelerated.
Provisions for allotment and development of projects have been simplified in the new policy. Developers will be able to invest about Rs.7200 crore under the policy. The policy specially encourages medium-level wind energy projects.
The projects will be sanctioned for 25 years. No applicant will be able to apply for more than 100 MW at government land for a single advertisement. This condition will not apply to the projects to be established on private lands, but will remain confined only to establishment of the project within the time-limit mentioned in the encouragement clause incorporated in the policy.
A developer will have to execute wind energy power development MoU within 60 day of receiving the allotment letter. He will have to make the financial conclusion within 18 months from the date of implementation and start commercial production from the plant in 36 months.
A provision for deposit of executing guarantee has also been made for time-bound establishment of projects. Incentives will be given to developers under the policy.