The domestic industry has given a thumbs-up to the government’s new policy for repowering of wind power projects. The new policy will provide a fillip to new investment proposals and infuse a fresh lease of life in the ailing sector, the industry has said.
The concessional interest rates offered by Indian Renewable Energy Development Agency (IREDA) as part of the policy over and above the interest rate rebates available to the new wind projects financed by IREDA will help boost investment, according to Indian Wind Turbine Manufacturers Association (IWTMA). “Accelerated Depreciation (AD) and Generation Based Incentive (GBI) are also made available to the repowering projects as per the conditions applicable to the new wind power projects. With the new policy, wind turbine generators of capacity 1 Megawatt and below would be eligible for repowering under the policy. Based on the experimental measure, MNRE will extend the repowering policy to other projects also,” said D V Giri, Secretary General at IWTMA.