Hike in GBI for wind power projects

According to Bloomberg’s article, the wind farms in India will receive a hike in their subsidy ( from 50p to 80p for per unit of the electricity generated). Under the Operational Guidelines for implementation of “Generation Based Incentive (GBI)” for Grid connected wind power projects,which was announced by Indian Renewable Energy Development Agency (IREDA) in May 2010, the GBI scheme was applicable till 31st March 2012. After Accelerated Depreciation was withdrawn REC mechanism was the only source which could provide benefits to wind farm owners. But at the present situation of the REC market, raising the GBI will enable the investors to rethink about their plans to re-enter into wind power sector.
Dilip Nigam, Director for Wind Policy,The Ministry of New and Renewable Energy said that the subsidy was previously only available to the first 4,000 megawatts of completed wind projects which will be expanded to allow as much as 15,000 megawatts of wind-farm capacity to claim the subsidy before March 31, 2018.
The new scheme is expected to be announced by the end of December. Lets see how much will it blow the wind sector.