Cabinet nod for revision of tariff rates for new rooftop solar, renewable energy projects
Cabinet of Ministers approved to revise the tariff rates paid for new rooftop solar & renewable energy projects through the feeding tariff yesterday.
A formula was adopted in 2022 taking into consideration the USD rate, interest rates & other economic factors to revise the tariff rates and increase the rates paid for Rooftop solar development & the feeding tariff for other renewable energy development of less than 10MW.
Yesterday the Cabinet of Ministers approved the proposal presented by the Ministry of Power & Energy based on the stakeholder consultations and tariff committee report to revise the rates utilizing the same formula with the current economic indicators and benchmarking on rates received on competitive bidding & negotiated tariff projects for CEB in 2024.
Accordingly the revised tariff rates for Rooftop Solar Development & RE Feeding tariff will be applied to all new projects from July 1.
Revised rooftop tariffs are: 20 years flat rate up to 500kW Rs 27.06, over 500kW Rs 23.18. Revised Feeding Tariff – 20 years flat rate: Solar – Rs 25.48, Mini Hydro – Rs 30.53, Wind – Rs 29.86 and BioMass – Rs 52.77.
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