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• W4376113846 abstract "Within India’s federal set up which typically fosters individual and shared responsibility between the centre and the states, ‘electricity’ falls under the Concurrent List, allowing both levels of governments to legislate and formulate policy on different facets of power market. Consequently, the Electricity Act, a central legislation, after coming into effect on 2003, exclusively revamped the power sector in India by de-licensing the generation segment, introducing multi-buyer model, establishing specialized court and conferring autonomy to regulatory bodies. But the Act largely deals with the sector-specific conventional sources of energy and notwithstanding early promise and the transformational reform it holds limited references on renewables which is persistently hurting India’s ambitious socio-political and legal expression in the context. As of now, in the midst of Covid-induced environment, India’s aspiration to achieve 175 GW of grid-connected renewable electricity by March 2022 appears to be epic. Additionally, with its National Electricity Plan in place, India exuberantly sets the ambition to achieve 275 GW of renewables by 2027. This necessitates frantic commitment to minimize the reliance on the non-clean sources of energy. The flexibility, cost effectiveness and resilience of renewable energy are supposed to be the winners but the challenges are humongous. As the global economy is gingerly getting prepared to embrace the low-carbon future, it is imperative that law eases such transition in orderly and just fashion while addressing global climate risk. For India, a profound plea for greater disclosure on emissions baselines, GHG reduction targets and transition plans are likely to be translated into larger investment risks. Hitherto, international investment law, covering an extensive global grid of investment treaties and trade agreements, oddly remains shy on the climate change issues. This makes the pitch for India slippery as its legal and policy response must entail sustainability as a guiding principle for domestic finance and investment scenario. The chapter will capture the unfolding drama scripted largely by the Electricity Act in the context of renewable energy and the low carbon transition in India. The narrative will also examine the policy perspective and the judicial interventions made in the renewable sector, thus far." @default.
• W4376113846 created "2023-05-12" @default.
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• W4376113846 date "2023-05-08" @default.
• W4376113846 modified "2023-10-01" @default.
• W4376113846 title "Chronicling Energy Law in India in the Era of Low-Carbon Transition" @default.
• W4376113846 doi "https://doi.org/10.1515/9783110752403-033" @default.
• W4376113846 hasPublicationYear "2023" @default.
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