Energy companies` stocks surge after Government grants complete waiver of ISTS charges to off-shore wind projects
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Suzlon Energy is currently trading at Rs. 10.67, up by 0.32 points or 3.09 % from its previous closing of Rs. 10.35 on the BSE.
KPI Green Energy is currently trading at Rs. 500.45, up by 14.45 points or 2.97 % from its previous closing of Rs. 486.00 on the BSE.
Inox Wind is currently trading at Rs. 136.60, up by 2.60 points or 1.94 % from its previous closing of Rs. 134.00 on the BSE.
In a big boost to off-shore wind energy projects, the Government has given complete waiver of ISTS charges for 25 years to projects commissioned on or before December 31, 2032. Besides, the ISTS waiver of Green Hydrogen and Green Ammonia projects extended from June 30, 2025 to December 31, 2030.
This decision has been taken to facilitate wider execution of offshore wind energy initiatives, to promote the expansion of Green Hydrogen / Green Ammonia Projects and to encourage the offtake of renewable energy from Energy Storage System Projects.
Further, to promote development of Pump Storage Plants (PSP), the criteria for availing the complete waiver of ISTS charges for PSP projects has now been linked to the date of award of the project rather than commissioning of the project. This shall be applicable in cases where construction work is awarded on or before June 30, 2025.
