Wind energy industry calls for restoration of accelerated depreciation

January 14, 2013 by  
Filed under Green Energy News

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The wind energy industry, in its pre-budget memorandum to the finance ministry, has made a strong pitch for the restoration of accelerated depreciation (AD), waiver in the uniform customs duty of five per cent for components used in generation and inclusion of projects under the priority lending category for the fast implementation.

“The wind sector has been severely hit post-March 31, 2012, after the discontinuation of the AD, which has reflected in capacity addition during the first half of the year. We want the AD for the wind energy sector to be reinstated,” said D V Giri, Secretary General of the Indian Wind Turbine Manufacturers Association (IWTMA).

  

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As the existing incentive under the sunset clause of Section 80 IA is expiring with the current financial year, IWTMA has requested an extension for setting up of the project up to March 31, 2020.

IWTMA has demanded the reinstatment of concessional Customs Duty Certificate (CCDC) benefit to raw material parts suppliers to wind turbine blades, inclusion of construction activities involved in the installation of wind power projects, operation and maintenance work in the specified infrastructure and exemption from service tax. Besides, it has called for the exclusion of ‘H Glass Roving’ from the anti-dumping duty notified vide notification as there are no roving manufacturers for specific high performance glass fabrics in the country

More, the association has suggested a clause for stricter compliance of the Renewable Purchase Obligation (RPO) by the states with a penalty should be added to boost the renewable energy certificate (REC) market which had been trading at the floor price and having many certificates unsold.

According to the association, those manufacturers who are increasing the percentage of localisation in manufacturing should be incentivised and the green Energy Fund announced in 2010 should be used.

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