Indian IPPs get generation-based incentives
India has finalized the Generation Based Incentive scheme for IPPs in wind power projects with a total cap of 4GW. This was announced by the Ministry for New and Renewable Energy of the Government of India.
The scheme will provide wind power projects selling electricity to the grid with an additional tariff of Rs. 0.5 per kWh. The GBI will be available to IPPs rather than projects which already receive favourable tax treatments.
The additional tariff, which is independent of and over and above the state tariff, is expected to provide Indian Energy with a significant increase in revenue for future projects. The Company has a pending application for GBI for its existing wind farm at Gadag Plains, Karnataka.
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