EPTA urges phased ISTS waiver withdrawal to support renewable energy projects
New Delhi: As India moves towards achieving 500 GW renewable energy capacity by 2030, the
Electric Power Transmission Association
(EPTA) has urged the government to reconsider the planned withdrawal of the Inter-State Transmission System (ISTS) waiver, proposing milestone-based eligibility and phased rollback mechanisms to support developers affected by external delays.
The
ISTS waiver
, introduced in 2016, has been extended only once and is now scheduled for phased withdrawal starting July 1, 2025. According to EPTA, the current plan to reduce the waiver benefit by 25 per cent each year may negatively impact ongoing
renewable energy projects
, affect investment flows, and increase power costs for commercial and industrial (C&I) consumers, who already face some of the highest electricity tariffs globally.
EPTA has proposed a 10 per cent annual withdrawal plan instead of the proposed 25 per cent, stating that a calibrated approach would minimise cost escalation and ensure continued competitiveness of green power.
"The government has been very supportive of the sector and has introduced number of policy measures, particularly in the last six months. We are very hopeful that the government will again take a more pragmatic view on the ISTS waiver issue,' said
G.P. Upadhyaya
, Director General, EPTA.
'We are not seeking a blanket extension. We are only proposing that the projects which have achieved key development milestones, such as securing financial closure, acquiring at least 50% of required land, and placing key equipment orders, should be granted a 6-9 month window to avail the ISTS waiver benefits,' Upadhyaya said.
The association has requested that projects with significant progress but delayed by uncontrollable factors be granted limited additional time to come under the waiver's ambit. EPTA's submission aligns with milestone-linked waivers already extended for pumped hydro and battery storage projects until June 2028.
EPTA highlighted that over USD 100 billion in transmission investment is expected in the next 8 to 10 years, with the sector playing a central role in India's renewable energy transition. The association has also called for scaling up domestic manufacturing of 765 kV high-voltage direct current (HVDC) equipment under the Production Linked Incentive (PLI) scheme, citing constraints in importing from European and Chinese manufacturers.
The industry body also mentioned key infrastructure initiatives such as the planned offshore transmission line from the Andaman Islands to Paradip in Odisha, under the One Sun, One World, One Grid initiative. The project aims to connect the island's demand centres with green power from the mainland. It further pointed to India's growing grid strength and its potential to facilitate cross-border links, including possible future connections from the Andaman Islands to Singapore and from Gujarat to the UAE.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
30 minutes ago
- The Hindu
EU approves MotoGP takeover by F1 owner Liberty Media
The acquisition of MotoGP by Liberty Media, the American group that owns Formula One, received the green light from The European Commission on Monday. Liberty and the Commission both released statements saying the deal had received 'unconditional approval'. 'The deal is now expected to close no later than July 3, 2025, opening the door to a new era for the sport,' said MotoGP on its web site. Liberty had agreed to buy the motor-cycle grand prix competition from Dorna Sports in April 2024, but the European Commission opened an investigation to determine whether the merger violated competition rules. European Commission approves Liberty Media's acquisition of MotoGP™ Read more here: — MotoGP™🏁 (@MotoGP) June 23, 2025 Colorado-based Liberty said it would acquire 84 per cent of MotoGP with Dorna, a Madrid-based company, retaining 16 per cent in a deal that valued the company at 4.3 billion euros ($5 billion). The Commission had been concerned 'that the transaction could lead to an increase in licensing prices for broadcasting rights to motorsports events.' On Monday, the Commission said it was satisfied that, in the European national markets it investigated, 'the companies are not close competitors for the licensing of broadcasting rights for sports content.' The Commission also looked at Liberty Media's relationship with parent company Liberty Global, a leading cable operator in several European countries. The statement said there was 'insufficient evidence that Mr. John Malone, Liberty Media's largest shareholder, could exercise decisive influence over Liberty Global.' 'We are thrilled,' said Derek Chang, Liberty Media President and Chief Executive Officer, in the company statement. 'MotoGP is a highly attractive premium sports asset with incredible racing, a passionate fanbase and a strong cash flow profile. We believe the sport and brand have significant growth potential.' Since Liberty took control of F1 in 2017, it has implemented an expansion strategy, particularly in the United States, making spectacle its main focus. With the help of the long-running Netflix series 'Drive to Survive,' the group has attracted a younger, more female audience. 'MotoGP is one of the most thrilling sports on earth, and we look forward to accelerating the sport's growth and expanding its reach to even more fans around the world,' said Dorna chief executive Carmelo Ezpeleta in the Liberty statement. As part of the deal Ezpeleta, CEO since 1998, and his team will continue to run MotoGP. 'Liberty is the best possible partner for our sport and the entire MotoGP community, and we are excited to create even greater value for our fans, commercial partners and everyone competing,' he said. Related Topics MotoGP
Hindustan Times
37 minutes ago
- Hindustan Times
What is NATO's new 5% defence spending target?
By Lili Bayer and Andrew Gray What is NATO's new 5% defence spending target? BRUSSELS, - NATO leaders are expected to endorse a big new defence spending target at an alliance summit in The Hague on Wednesday, as demanded by U.S. President Donald Trump. Here are some key questions and answers about the new target. WHAT ARE NATO LEADERS EXPECTED TO PROVE? They are expected to agree that NATO members should spend 5% of their economic output - or Gross Domestic Product - on core defence and broader defence and security-related investments. That's a hefty increase on the current goal of 2%, which was approved at an alliance summit in Wales in 2014. But the new target will be measured differently. NATO members will be expected to spend 3.5% of their GDP on core defence such as troops and weapons – the items currently covered by the old 2% target. They will also be expected to spend a further 1.5% of GDP on broader defence and security-related investments – such as adapting roads, bridges and ports for use by military vehicles, and on cyber-security and protecting energy pipelines. HOW BIG A LE WILL THIS BE FOR NATO COUNTRIES? Very big for a lot of them. Twenty-two of NATO's 32 member countries spent 2% of GDP or more on defence last year. As a whole, alliance members spent 2.61% of NATO GDP on defence last year, according to a NATO estimate. But that number masks big differences in spending among members. Poland, for example, spent more than 4% of its GDP on defence, making it the biggest spender. At the other end of the spectrum, Spain spent less than 1.3%. WHEN ARE NATO COUNTRIES EXPECTED TO HIT THE TARGET? They will be expected to meet the target by 2035. The targets could also be adjusted when they are reviewed in 2029. HOW MUCH MORE CASH ARE WE ACTUALLY TALKING ABOUT? It's hard to say exactly how much extra cash NATO members would have to spend, not least because it will depend on the size of their economies for years to come. Also, NATO does not currently measure spending on the new broader category of defence and security-related investments – so there is no baseline measurement to go by. But NATO countries spent over $1.3 trillion on core defence in 2024, up from about a trillion a decade earlier in constant 2021 prices. If NATO states had all spent 3.5% of GDP on defence last year, that would have amounted to some $1.75 trillion. So, hitting the new targets could eventually mean spending hundreds of billions of dollars more per year, compared with current spending. WHY ARE NATO COUNTRIES INCREASING SPENDING NOW? Russia's continued war in Ukraine, concerns about a possible future threat from Russia, and U.S. pressure have led many European capitals to boost investment in defence and plan to increase it even further over the coming years. 'Russia could be ready to use military force against NATO within five years,' NATO Secretary-General Mark Rutte said earlier this month. Europe is also preparing for the possibility that the U.S. under President Donald Trump will decide to withdraw some of its troops and capabilities from Europe. 'America can't be everywhere all the time, nor should we be,' U.S. Defense Secretary Pete Hegseth said earlier this month. WHAT WILL THE NEW MONEY BE SPENT ON? NATO this month agreed on new capability targets for its members – the types of troops, military units, weapons and equipment that NATO says they should possess to defend themselves and the alliance. Those targets are classified but Rutte said after they were approved that the alliance needed to invest more in areas including "air defence, fighter jets, tanks, drones, personnel, logistics and so much more". IS EVERYONE ON BOARD? Not quite. Spanish Prime Minister Pedro Sanchez says his country can meet its military capability targets by spending just 2.1% of GDP. His government approved the draft summit statement with the new spending target but made clear it does not intend to spend that much. NATO officials say Sanchez does not have an opt-out - Spain's spending will be tracked and if it's not investing enough to meet the military targets, it will need to improve. Some countries that have signed up to the targets may also not meet them, diplomats and analysts expect. But publicly, they have insisted they are committed. WHERE WILL THE MONEY COME FROM? Every NATO country will decide on its own where to find the cash to invest more in defence and how to allocate it. The European Union has moved to try to make it easier for capitals to spend on defence. The EU is allowing members to raise defence spending by 1.5% of GDP each year for four years without any disciplinary steps that would normally kick in once a national deficit is above 3% of GDP. EU ministers last month also approved the creation of a 150-billion-euro arms fund using joint EU borrowing to give loans to European countries for joint defence projects. Some European countries are pushing for EU joint borrowing to fund grants – rather than loans – for defence spending. But they have met resistance from fiscally conservative countries including Germany and The Netherlands. HOW DOES THE NATO TARGET COMPARE TO OTHER COUNTRIES' DEFENCE SPENDING? NATO allies dedicate a much smaller share of their economic output to defence than Russia but, taken together, they spend significantly more cash than Moscow. Russia's military spending rose by 38% in 2024, reaching an estimated $149 billion and 7.1% of GDP, according to the Stockholm International Peace Research Institute. China, the world's second-largest military spender, dedicated an estimated 1.7% of GDP to military expenditure last year, according to SIPRI. HOW DOES DEFENCE SPENDING COMPARE TO GOVERNMENT SPENDING IN OTHER AREAS? In NATO countries, defence tends to make up a small portion of national budgets. Military spending accounted for 3.2% of government spending in Italy, 3.6% in France and 8.5% in Poland in 2023, according to SIPRI data. In Russia that year, military expenditure made up nearly 19% of government spending. This article was generated from an automated news agency feed without modifications to text.
Time of India
38 minutes ago
- Time of India
London emerging as top global destination for Indian tech startups from tier two cities
Live Events Indian entrepreneurs from tier two cities like Chandigarh, Kochi, and Coimbatore, among others, are increasingly tapping the UK as a prominent destination for tech talent and raising venture just the first two months of the new financial year, nine Indian firms have already set up base in London, following 23 in 2024 and 31 in 2023, according to London & Partners, a public-private international trade body. Meanwhile, fresh investments by existing Indian companies like Paytm Mphasis , and WNS are also fuelling the tech ecosystem in the UK capital.'London's appeal as a premier destination for Indian tech companies is driven by three key factors: access to customers, talent, and funding,' Hemin Bharucha, chief representative, Mayor of London, and regional director - India & Middle East, London & Partners – a public-private trade body, told ET. 'India has now been London's top source of investment for three years in a row.'He added that even entrepreneurs from tier two cities like Kochi, Chandigarh, and Coimbatore are increasingly investing in London, seeking access to venture capital and top 2023, Indian firms accounted for 29% of all inward investment projects in the city—more than any other country, data showed. Over the past decade, these companies have generated over 7,800 jobs in London mid-sized IT services leader, Mphasis, announced the opening of its Innovation Centre in London to focus on advanced technologies such as quantum computing , quantum cryptography, and AI. It is a part of Mphasis' broader expansion in the UK, a market where it already serves around 60 clients, primarily in the financial services sector.'For Mphasis, London presents a truly compelling advantage as a vibrant innovation hub,' said Ashish Devalekar, executive vice president and head of Europe, Mphasis. 'Its unique combination of world-class talent, a forward-thinking regulatory environment, and strategic access to both European and global markets made it the ideal location for our innovation hub.'Mphasis plans to double its UK workforce over the next three years, it said in September last enterprise IT services provider BCT Consulting said it is targeting a revenue of £100 million over the next decade from the region. The company, which is present in 20 countries, plans to establish a centre of excellence (CoE) in London and create over 300 jobs.'As a global company driven by innovation, expanding into the UK, particularly London, was a natural step for us,' said Sundar Padmanaban, executive vice president - UKI & Europe, BCT Group. 'From healthcare to financial services, we see London not just as a growth market but as a hub for co-creating future-ready solutions with our clients,' he Thornton's 2024 report revealed a record 971 Indian-owned businesses now operate in the UK, including 505 in London. The Technology, Media, and Telecom (TMT) sector leads the charge, with these companies collectively employing 118,430 people across the UK and generating £68.09 billion in revenue, up from £50.5 billion the year recently signed India-UK Free Trade Agreement (FTA) is expected to further accelerate cross-border investment and innovation. 'The FTA is a landmark moment, it reduces tariffs, facilitates talent movement, and expands market access,' Bharucha India-UK tech corridor is poised to emerge as a global model for collaboration, one that drives innovation and creates high-value jobs, he added.
