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India gov't gives incentives for wind energy projects

Posted: 21 Dec 2009     Print Version  Bookmark and Share

Keywords:India initiative  wind energy  renewable energys 

At the seminar on "Policy incentives for independent power producers and investors for wind and biomass power generation," union minister for new and renewable energy Farooq Abdullah unveiled the Generation Based Incentive (GBI) for wind power producers. The GBI is aimed at attracting investment in the wind energy sector and increasing the quantum of grid-interactive renewable power. "We are implementing the GBI scheme for grid-interactive wind power producers from today. This would definitely boost wind power producers and help in cutting carbon emission," he said as reported by the Business Standard.

Abdullah said, "We are here to unlock the locks," and assured help in every way possible to take the renewable energy sector forward. With the availability of better and efficient wind turbines suitable for moderate wind regimes and increased infrastructure for power evacuation, the wind power potential of the country, presently estimated to be over 45,000 MW, could go up. Emphasizing the need for proactive steps from both public as well as private sector, he also called upon the private producers to make the best out of the opportunities coming their way.

Wind energy has been the fastest growing renewable energy source in India. A cumulative capacity of around 11,000MW has been set up so far. A target of 10,500MW has been kept for 11th Plan.

Speaking on the occasion, secretary, MNRE, Deepak Gupta called for maximising the utilisation of renewable energy sources for meeting our domestic energy demands, particularly in terms of reaching out to millions of households who do not have grid accessibility. Government has already initiated several measures to enable India to be a global leader in renewable energy, particularly in wind sector. These include the package of fiscal and financial incentives including concessions such as 80% accelerated depreciation, concessional custom duty, excise duty exemption, sales tax exemption, income tax exemption for 10 years, etc. Also Central Electricity Regulatory Commission has issued guidelines for tariff determination of renewable power including wind energy.

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