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Gush of funds greets wind projects in India

The wind manufacturing space has grown steadily in India with about 7.5GW of manufacturing capacity in India today which is expected to reach about 10.5GW in 2012-13.

Wind energy has witnessed a lot of activity in recent times in India. Panchabuta, has earlier talked about the  Generation Based Incentives (GBI) scheme for grid connected wind power projects with the objective of broadening the investors base by attracting FDI and independent power producers.

According to reports, a gush of investment activity has been breezing across India’s wind energy economy in recent months as private equity funds and asset financing companies seek to exploit opportunities in the sector coming through a mix of tax breaks, policy incentives and ecological benefits, experts said.

 Investments worth $586 million (Rs 2,637 crore) have already flowed into wind farms in India during January to March this year.

This is more than half of $934 million (Rs 4,203 crore) investment attracted by the wind energy sector in 2010, a report by consulting firm KPMG said. “With wind, there has been a lot of tax-driven development which just begs to be consolidated,” said Cyrille Arnould, head of the Renewable Energy Fund, European Investment Bank.

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