The Indian government has set a target to install 15GW of wind power during the 12th Plan period, ending in 2017.
The country has been promoting wind power projects through private sector investment by providing fiscal and promotional incentives such as 80% accelerated depreciation, concessional import duty on certain components of wind electric generators and by exempting excise duty for manufacturers.
The Indian Ministry of New and Renewable Energy (MNRE) said the capital expenditure for setting up a 1MW wind power project is about INR60m ($1m).
Indian Renewable Energy Development Agency (IREDA) and several other financial institutions have agreed to provide loans to install windmills in the country.
Meanwhile, the Chennai-based Centre for Wind Energy Technology (C-WET) will provide technical support, including wind resource assessment services.
The government and C-WET have jointly undertake a wind resource survey programme to identify the potential sites for wind power projects, while 701 wind monitoring stations have already been established in the country.
By December 2014, about 1,300MW wind power projects will be established in Madhya Pradesh, while 100MW of renewable power will be generated from biomass projects.
Image: The Indian goverment is targeting 15GW of wind power generation by 2017. Photo: Courtesy of Freedigitalphotos.net.