Suzlon ‘100% Confident’ India Will Restore Wind Incentives
The world’s fifth-largest wind-turbine supplier, Suzlon Energy, expects India’s budget next week to reinstate incentives aimed at encouraging businesses to invest in more wind power, helping India cut its reliance on costlier fossil fuel.
Suzlon Chairman Tulsi Tanti told CNBC Asia’s “Squawk Box” that he is “100 percent confident” the industry-recommended generation-based incentives scrapped last year will be brought back in the February 28 budget, predicting more investment will come to India as a result.
Under the generation-based incentives (GBI) scheme companies received a financial incentive per unit of electricity they generate.
Tanti said the government’s budget may also include the so-called accelerated depreciation (AD), scheme where a company gets to write off 80 percent of the project value in the first year as depreciation, reducing their tax payout.
“In principle, the government is interested,” he said.