SC grants 50% exemption on NPV to wind turbine makers

SC grants 50% exemption on NPV to wind turbine makers The Supreme Court granted 50 percent exemption on Net Present Value (NPV), a charge imposed on forest projects, at a minimum rate to the domestic wind turbine manufacturers provided minimum felling of trees is done. A special forest bench headed by Chief Justice K G Balakrishnan on Thursday after considering the recommendations of the Central Empowered Committee (CEC) allowed 50 percent exemption on NPV at a minimum rate provided minimal felling of trees was involved. NPV is charged to compensate for the loss of forest wealth due to non-forest use. NPV ranges from Rs 4.32 lakh to 12 lakh per hectare depending on the quality of the forest land used. Senior Counsel Harish Salve, appearing for CEC, recommended only 50 percent exemptions against suggestion of relief of 90 percent by the expert panel. The expert committee constituted to study impact of wind energy farms on environment had recommended that wind energy projects should be eligible for exemption from payment of NPV to the extent of 90 percent with the condition of 'assured forest protection.' The apex court has given full powers to CEC to examine and decide forest matters.

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