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India

India

India to 'end federal wind incentive'

INDIA: India is to go ahead with plans to scrap a federal tax incentive for wind developers in April, according to reports.

In an interview with Bloomberg, Dilip Nigam, director of wind policy at the Indian Ministry of New and Renewable Energy, said: "Accelerated depreciation will go away in April."

Accelerated depreciation allows businesses to write off investments in developments such as wind projects rapidly, thereby reducing their tax liability.

Launched in the 1990s, accelerated depreciation has been a key factor in the expansion of India's wind sector to more than 14GW of total capacity.

If the incentive is removed, developers may turn to India's REC scheme, which has been growing in popularity. September's auction increased by nearly 100% compared to a previous one in July.

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