India slips to eighth spot in RE attractive index

India’s overall ranking slipped from previously fourth position to eighth position recently in the world renewable energy attractive index as per Ernst & Young survey. This survey was for first quarter of 2013. The reason for such a decline in overall ranking of India is the antagonistic policy regime, weak enforcement of RPO and high cost of finance.

However India is said to be a “Hot Spot” as it aims to double its renewable energy capacity and is only next to Belgium in terms of priority this sector receives. The wind energy sector after with-drawl of Accelerated depreciation has evidently enervated the sector. All recent wind energy related developments can be assessed in our previous blogs – Blog1, Blog2.

In a similar development with regards to wind energy generation MNRE inks to resume a break for depreciation on wind farms and boost a subsidy for alternative generation, though the same is pending for cabinet approval. The proposal is also put up for increasing the amount of GBI. For detailed article on this development by Bloomberg Click Here.

Relevant media article click here.