The Union Cabinet has approved the ‘generation-based incentive’ scheme for wind power projects. The scheme was approved by the Union Cabinet of Ministers recently. Once the scheme implemented, the Union government will provide an incentive of 50 paise per kWhr of electricity generated by wind projects registered under the scheme.
However, the incentive will be stopped once the payout reaches Rs 1 crore per mw of capacity. The incentive of Rs 1 crore can be drawn in not fewer than four years and not more than 10. In his Budget speech, the Finance Minister had said that he would provide Rs 800 crore towards the scheme.