However India is said to be a “Hot Spot” as it aims to double its renewable energy capacity and is only next to Belgium in terms of priority this sector receives. The wind energy sector after with-drawl of Accelerated depreciation has evidently enervated the sector. All recent wind energy related developments can be assessed in our previous blogs –?Blog1,?Blog2.

In a similar development with regards to wind energy generation MNRE inks to resume a break for depreciation on wind farms and boost a subsidy for alternative generation, though the same is pending for cabinet approval. The proposal is also put up for increasing the amount of GBI. For detailed article on this development by Bloomberg?Click Here.

Relevant media article?click here.

In the press release, IWPA has quoted a study by CRISIL which says that annual wind mill additions in India have come down by 50 % and Govt. of India is loosing more in upfront annual tax collections.

The MSME industry has also said that the introduction of GBI by Govt. of India is not going to help the cause as the very purpose of self consumption stands defeated.

For the official press release click here.