Cabinet approves modification to Mega Power Policy

New Delhi, Oct 1 (ANI): The Union Cabinet today approved modifications in the existing mega power policy.

This would encourage setting up of mega power plants to take advantage of economies of scale and improve their viability. It will simplify the procedure for grant of mega certificate and encourage capacity addition.

It will also encourage technology transfer and indigenous manufacturing in the field of super critical power equipments.

The mega Power Policy was introduced in November 1995 for providing impetus to development of large size power projects in the country and derive benefit from economies of scale.

These guidelines were modified in 1998 and 2002 and was last amended in April 2006 to encourage power development in Jammu and Kashmir and the North Eastern region. (ANI)