Government mulls policy to promote wind energy projects

Posted on:10 Mar 2016 09:31:30

Government mulls policy to promote wind energy projects
10 March 2016 Current Affairs GK: In order to  Proposal  encourage optimum use of wind energy potential in India, the Centre 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 Power Projects 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 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.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. 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. 

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