CCEA extends timeline for Mega Power Policy, to boost 32,300 MW capacity

GMR Energy, Lanco Power, IL&FS, Essar Power, Torrent Energy etc stand to benefit

The Cabinet Committee on Economic Affairs (CCEA) extended the time period for thermal power producers to receive a “mega power” certificate for tax purpose to 10 years, from the existing five years.
 
GMR Energy, Lanco Power, IL&FS, Essar Power and Torrent are among those which would benefit.
 
The Mega Power Policy, announced in 2014, identified 25 power plants totalling 32,300 Mw for earning additional benefits under the policy.
 
The incentives provided are tax benefits such as lower customs duty and excise duty exemption for equipment procurement. The policy is for projects over 1,000 Mw and was to