India to promote wind power projects

NEW DELHI, March 11 (UPI) -- India said it will promote the setting up of commercial wind power projects by providing financial incentives.

Minister for New and Renewable Energy Vilas Muttemwar said Tuesday the government will provide concessional import duty for wind electricity generator subsystems, excise duty exemption and 10-year tax holidays on wind power projects.

Muttemwar said the government also provides benefits of accelerated depreciation, term loans from the Indian Renewable Energy Department Agency and identification of more potential locations by carrying out wind resource assessment studies.

"A wind power installed capacity of 7,844 megawatts has been achieved up to Dec. 31, 2007, in the country, which includes 3,712 MW in Tamil Nadu. Production of power from ocean energy has not been found to be cost effective on a commercial scale," Muttemwar said.