The Indian government has outlined a plan to raise 15,000MW of wind power assets by the end of 2017, as part of its 12th plan period that began in 2012.
Each MW of wind power is expected to incur an investment of INR60m ($1.09m) and is currently providing independent developers with a 10-year tax holiday on wind power related revenues to spur further investments.
"The Government has been promoting wind power projects through private sector investment by providing fiscal and promotional incentives such as 80% Accelerated Depreciation, concessional import duty on certain components of wind electric generators, excise duty exemption to manufacturers," said the Indian Ministry of New & Renewable Energy.
The ministry will continue to facilitate loans from the Indian Renewable Energy Development Agency (IREDA) for executing wind installations as well as technical support from the Centre for Wind Energy Technology (C-WET), Chennai.
Southern Indian state of Tamil Nadu has been identified as the state with highest wind power potential with almost 50% of the envisaged capacity expected to come up in the state.
Gujarat, Maharashtra and Rajasthan are the other major states identified to generate 3093MW, 2976MW and 2355MW of wind power respectively.
Wind power installations in the country currently total 18,551MW, representing 9% of the total installed power capacity in the state.