Ramesh Kymal Reaction on Budget 2012

DSIJ Intelligence / 17 Mar 2012

The Union Budget has been a disappointment for the wind energy sector at a time when the wind energy was generating a sizable share of 5 per cent of electricity at the All India level.
The Union Budget has been a disappointment for the wind energy sector at a time when the wind energy was generating a sizable share of 5 per cent of electricity at the All India level. Even after our representation to the Union Planning Commission and the Union Ministry of New and Renewable Energy, the wind energy sector did not see any priority sector lending and reduction in the interest rates making the wind energy projects unviable with the present tariff rates.

We were looking for a level playing field with the conventional power, but we find is that the subsidies for Oil is increasing and duty free coal is being allowed.

While the Union Finance Minister has announced customs duty exemption on imported coal and natural gas for power projects, there was nothing supportive in the Budget for the wind and solar energy in particular. We had great expectations in the Budget for coming out with investor-friendly initiatives towards the wind energy sector but we feel that our high expectations have been belied.

Mr. Ramesh Kymal
CMD, Gamesa Wind Turbines

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