A wind plant of 24 turbines is being developed in Gudimangalam in Coimbatore by 20th Century Finance Corporation to generate 9.6 MW of power. The turbines will be financed through the company's own funds. The project is being contracted to NEPC Micon. The corporation's director, Sanjay Kulkarni, says "It makes better business sense for us to set up our own wind farms rather than leasing the equipment to operators." This decision follows a circular from the Central Board for Direct Taxes which states that leasing companies cannot claim the 100% tax depreciation allowed for wind farm projects. The circular states that the benefits would go to the lessee.
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