The Ministry of New and Renewable Energy (“MNRE”) has invited comments and suggestions to the report titled “Evaluation of Generation Based Incentives Scheme for Wind Power Projects” undertaken by the Indian Renewable Development Agency (“IREDA”) through CRISIL. The report is a result of the study undertaken to assess (a) the performance of the generation based incentive (“GBI”) scheme and whether it should be continued; (b) the implementation procedure and guidelines of the GBI scheme and suggest modifications and changes; and (c) the adequacy (or inadequacy) of benefits under the GBI scheme. A copy of the report can be found here.
The GBI scheme was first introduced in December 2009, withdrawn in March 2012, and thereafter reintroduced in September 2013. The present scheme is applicable upto to March 2017. Under the scheme, GBI is provided to wind electricity producers @ Rs. 0.50 per unit of electricity fed into the grid for a period of not less than four years and a maximum period of 10 years, with a cap of Rs. 10 million per MW (though the total disbursement in a year cannot exceed one-fourth of the maximum limit of the incentive, i.e., Rs. 2.5 million per MW per annum during the first four years).