7243

Budget 2013: Generation-based incentives for wind power may be reintroduced

Indian Renewable Energy Development Agency to get low-interest-bearing funds for lending to renewable energy projects
Comment E-mail Print Share
First Published: Thu, Feb 28 2013. 01 33 PM IST
A file photo of a Suzlon wind power generation facility in Rajasthan. Photo: Mint
A file photo of a Suzlon wind power generation facility in Rajasthan. Photo: Mint
New Delhi: Finance minister P. Chidambaram on Thursday proposed to reintroduce generation-based incentives for wind energy projects, expected to benefit companies such as Suzlon Energy Ltd, and provide Rs.800 crore to the ministry of new and renewable energy for the purpose.
To promote other environment-friendly energy projects, the government will also provide low-interest-bearing funds to the Indian Renewable Energy Development Agency for lending to renewable energy projects, he said presenting the Union Budget for 2013-14.
The National Clean Energy Fund, which functions under the renewable energy ministry, will provide the money and the scheme will have a life span of five years, he said.
Noting that the country tosses out several thousand tonnes of garbage each day, Chidambaram said the government will evolve a scheme to encourage cities and municipalities to take up waste-to-energy projects in the form of public-private partnerships.
“I propose to support municipalities that will implement waste-to-energy projects through different instruments such as viability gap funding, repayable grant and low-cost capital,” he said.
Comment E-mail Print Share
First Published: Thu, Feb 28 2013. 01 33 PM IST
blog comments powered by Disqus
  • Wed, Apr 16 2014. 06 11 PM
  • Wed, Apr 09 2014. 05 19 PM
ALSO READ close

Green clearances take a back seat during general election

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved