The government of India’s Ministry of New and Renewable Energy said today it is offering new incentives for grid-connected renewable wind power generation, the Wall Street Journal reported.
Wind electricity producers are expected to receive Rs 0.50 ($0.01) per unit of electricity fed into the grid under the new program. The average wind power price in India is about Rs 3 per unit.
The government is expected to invest Rs 3.8 billion ($81.6 million) in the program. The WSJ said that of the country’s total of 15.6 gigawatts, its wind energy sector has about 10,500 megawatts of installed capacity.
The federal government is trying to promote the use of renewables through such incentives, attract outside investment, and reduce carbon emissions.
India is ranked fifth in the world in terms of wind power installed capacity, down from fourth in 2008, according to the Indian Wind Energy Association