25 Jun '13, 1pm

India Plans to Revive Wind-Farm Tax Break, Raise Subsidy

MUMBAI -- India plans to revive tax breaks for wind farms after the expiry of earlier incentive programs led to a 47 percent slump in installations, according to two government officials with direct knowledge of the matter. The Ministry of New and Renewable Energy proposed to resume a break for depreciation on wind farms and boost a subsidy for alternative generation, the officials said, asking not to be identified because the proposal is awaiting Cabinet approval. Investment in the wind industry sputtered after the two incentives expired on March 31, 2012, stalling turbine orders for manufacturers such as Suzlon Energy Ltd. (SUEL) and Gamesa Corp. (GAM) Tecnologica SA. The slump in installations last financial year toppled India from its place as the world’s third-biggest market for the industry, according to data compiled by Bloomberg. Investors may claim the tax break a...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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