RENEWABLE ENERGY

Over 70% of equipment used in wind power generation is made in India, says Power Minister RK Singh

More than 70 per cent of equipment used in generation of wind energy projects is manufactured in India, Minister for Power and New and Renewable Energy, RK Singh said Thursday in a written reply to the Lok Sabha.

“In a bid to promote wind energy in the country, the government has provided concessional custom duty exemption on certain components required for manufacturing of wind electric generators,” said Singh. He further added that generation-based incentive is being provided to the wind projects commissioned on or before March 31, 2017.

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“Meanwhile, the government is also providing technical support including wind resource assessment and identification of potential sites through the National Institute of Wind Energy, Chennai,” he said.

In addition, the government has taken other various steps for the promotion of renewable energy including permission for foreign direct investment (FDI) up to 100 per cent under the automatic route and waiver of inter-state transmission system charges for inter-state sale of solar and wind power for projects to be commissioned by June 2025, Singh stated.

According to Singh, the government has issued orders that power shall be dispatched against letter of credit or advance payment to ensure timely payment by distribution licensees to renewable energy generators.

Source
The Hindu businessline
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