The wind power sector is likely to get back the ‘generation-based incentive’ (GBI) benefit.
“I have been officially told that it would be brought back soon,” Ramesh Kymal, Chairman, Indian Wind Turbine Manufacturers’ Association and Chairman and Managing Director, Gamesa India Pvt Ltd, told Business Line on Wednesday. Sources in the Ministry confirmed this to Business Line today.
Kymal and several other representatives of the wind industry met the top official of the Ministry of New and Renewable Energy.
Under the ‘GBI scheme’, wind power generators were given an incentive of 50 paise 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 came earlier.
As such, the scheme froze on March 31, but by then only less than 2,000 MW of capacity had been registered under it.
The wind industry has been asking for restoration of the incentive, at least until the 4,000 MW ceiling is reached - particularly because the other major incentive, viz., the ‘accelerated depreciation’ benefit, has been abolished.