Visit windpowermonthlyevents.com for the latest on our upcoming conferences and webcasts

India

India

India cuts wind tax incentive to 15%

INDIA: The Indian government has cut the federal tax incentive for wind developers, one of the key drivers behind the country's wind industry.

The country's tax authority is reducing the amount developers can claim in 'accelerated depreciation' from 80% to 15%.

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

However, it could have been worse. There were reports earlier this year the incentive would be scrapped altogether.

In January, director of wind policy at the Indian Ministry of New and Renewable Energy said: "Accelerated depreciation will go away in the April."

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.

It is hoped 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.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Windpower Monthly Events

Search more than 4,500 companies in the Windpower Directory

Latest Jobs