Under the scheme, an incentive of Rs.0.50 per unit of electricity fed into the grid by wind power projects is provided over and above the tariff given by the State utilities. Under this scheme, a project can avail of a maximum of Rs. 62 lakh per MW which is to be availed in a period not less than 4 years and maximum period of 10 years. The scheme is meant for a capacity of 4000 MW during the 11th Plan period.
Apart from above mentioned GBI scheme, the Government has been promoting wind power projects by providing fiscal and promotional incentives such as concessional import duty on certain components of wind electric generators, excise duty exemption to manufacturers. 10 years tax holiday on income generated from wind power projects is also available. Loans for installing windmills are available from Indian Renewable Energy Development Agency (IREDA) and other Financial Institutions. Technical support including wind resource assessment is provided by the Centre for Wind Energy Technology (C-WET), Chennai. Preferential tariff is being provided in wind resource rich states. In addition, 80% accelerated depreciation to generators is available for the projects which do not avail of Generation Based Incentive (GBI).
This information was given by the Minister of New and Renewable Energy Dr. Farooq Abdullah in a written reply to a question in Lok Sabha today.
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