Wind energy to get incentives in India

The wind power sector is all set to get back the ‘generation-based incentive’ (GBI) benefits, Chairman, Indian Wind Turbine Manufacturers’ Association and Chairman and Managing Director, Gamesa India Pvt Ltd, Ramesh Kymal, said quoting ministry sources.

Under the ‘GBI scheme’, wind power generators were given an incentive of 50 paisa per unit, subject to a cap of Rs 62.5 lakh per MW of installed capacity.

The scheme was to cease if the total capacity under it came to 4,000 MW or by March 31, 2012, whichever comes earlier.

The wind power generating industry has been demanding for the restoration of the incentives at least until the 4,000 MW ceiling is reached – particularly because the other major incentive like the ‘accelerated depreciation’ benefit, has been abolished.