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MAR 09 2016

Government mulls policy to promote wind energy projects

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 09th MAR 2016

In a bid to encourage optimum use of wind energy potential in India, theCentre will soon unveil a policy to give incentives including an interest rebate of 0.25 for increasing capacity of wind mills of up to 1 MW. 


Ministry of New and Renewable Energy has floated a draft for Repowering of Wind PowerProjects in the country for comments from stakeholders by March 14, 2016. 

The objective of the policy is to promote optimum utilisation of wind energy resources by creating facilitative framework for repowering, as per the draft. 

It said most of the wind-turbines installed up to the year 2000 are of capacity below 500 kW and are at sites having high wind energy potential. 

It is estimated that over 3000 MW capacity installation is from wind turbines of 500 kW or below. In order to optimally utilise the wind energy resources repowering is required, it noted. 

It said that for repowering projects Indian Renewable Energy Development Agency ( IREDA) will provide an additional interest rate rebate of 0.25 per cent over and above the interest rate rebates available to the new wind projects being financed by it. 

Secondly the benefits available to the new wind projects i.e. Accelerated Depreciation or GBI (Generation Based Incentives) as per applicable conditions would also be available to the repowering project. 

The repowering projects would be implemented through the respective State Nodal Agency/Organisation involved in promotion of wind energy in the state. 

Major share of renewable power capacity in India is from wind energy. India started harnessing of the wind power prior to 1990. The present installed capacity is over 25 GW which is fourth largest in the world after China, USA and Germany.

Tags

Renewable Energy Wind China Wind Power Energy Generation-based incentive scheme accelerated depreciation Power India

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