India to offer Rs380 crore in wind power subsidy
17 Dec 2009
In a major boost to the use of green technologies, the government is planning to offer Rs380 crore as subsidy to wind power projects that feed into the national grid.
Under the scheme, wind power producers will be offered Rs0.50 per unit of electricity fed into the grid for a period of not less than 4 years and a maximum of 10 years, with a cap of Rs62 lakh per MW.
This will facilitate the entry of large independent power producers and foreign direct investors in the wind power sector, into a market which is largely dominated by small, private companies, the ministry of new and renewable energy said in a website release.
India ranks fourth after Germany, Spain and the United States in grid-connected wind power generation. According to the ministry, the total installed wind power capacity in India up to March 2009 was 1,485.1 MW. This brings the cumulative total wind power capacity to 10,242.50 MW.
