BWI: Indian Wind Turbine Association Pledges For a “Go Green” Campaign at Wind India 2008

Press release from Business Wire India
Source: IWTMA
Tuesday, November 25, 2008 05:27 PM IST (11:57 AM GMT)
Editors: General: Environment, People; Business: Business services, Energy companies, Media & entertainment; Technology
Release no: 18610
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Indian Wind Turbine Association Pledges For a "Go Green" Campaign at Wind India 2008
Coal and Oil will Deplete; The Future is to go Green; A Call for the Nation to Pledge

Chennai, Tamil Nadu, India, Tuesday, November 25, 2008 -- (Business Wire India) -- The Indian Wind Turbine Manufacturers Association (IWTMA) today participated in the 'Wind India 2008' conference held on the 25th November 2008 at Chennai Trade Centre, Nandambakkam. As Gold Sponsors for this conference, the core theme of the IWTMA's campaign is to focus efforts on promoting a "go green" renewable energy future in India. Mr. Arcot N Veeraswami, Minister of Tamil Nadu for Electricity was the Chief Guest for the conference.

IWTMA has put up a pledge board "For A Go Green Future" and has invited leading members from the government, media and wind energy senior members to be a part of this signature campaign. Mr. Arcot N Veeraswami, Mr. G.M. Pillai, Director General, WISE and Mr. D .V. Giri, Chairman, IWTMA, are some of the leading members who were present at the signage. The pledge board is a call for the nation to focus towards renewable energy.

Mr. D.V. Giri, Chairman, IWTMA, and Ms. Sara Bryce, Director - Marketing, Global Wind Energy Council (GWEC) will be speaking in depth about the challenges pertaining to the Indian and Global Wind Energy scenario.

SPEECH EXCERPTS OF MR. D.V. GIRI, CHAIRMAN, IWTMA include:

-- Synopsis of Indian wind energy scenario: Indian wind energy has a potential of 45,000MW of which only 9,000MW is being generated presently. India stands at the fourth place for wind energy generation in the world

-- Synopsis of South Indian wind energy scenario: Tamil Nadu ranks No.1 in the wind energy generation, with a potential of 5500MW to 7000MW of which 4000MW is generated presently. To bridge the gap between the availability and the potential, replacement of the technologically advanced turbines becomes vital

-- Accelerated Depreciation Vs Generation Based Incentives (GBI): Accelerated Generation is 80% tax benefit enjoyed by the wind turbine owners along with 10 years holiday and indirect tax benefits, such as on custom and excise duties. Due to the loop holes in this system, the government implemented Generation Based Incentive (GBI). GBI is a mechanism by which incentives are provided to the turbine owners based on the wind power generation. IWTMA calls for Generation Based Incentives with the 49 MW cap removed

-- Removal of CAP on the GBI: Ministry for Renewable Energy presently offers incentives only to wind projects up to 49 MW. The CAP on the Generation Based Incentive has to be removed to woo foreign investors to invest in the sector. Presently, several foreign companies are ready to invest in the potential Indian wind farm, on removal of the CAP on GBI.

IWTMA calls for a friendly long term bankable policy, which is valid for a minimum of 10 years with a proper tariff system to woo foreign investors. It requires Government to support in the areas of:

-- Replacement of obsolete wind turbines with technologically advanced wind turbines

-- Raise the wind energy percentage in the Renewable Portfolio Standards (RPO)

-- A paradigm shift from a matured 'Energy Driven Market' rather than 'Financial Driven Market'

About IWTMA:

Indian Wind Turbine Manufacturers Association was founded in 1997 to bridge the gap between demand and supply of power and to complement other forms of energy. IWTMA is presently represented by 10 members certified by Centre for Wind Energy Technology (CWET), who are primarily wind turbine manufacturers. IWTMA is the voice of the industry and the umbrella body of Wind Turbine Manufacturers of India. It is a member of the advisory panel for the Renewable Energy Ministry, governing body member of CWET, and also a member of Indian Renewable Energy Development Agency (IREDA).

Additional Information on IWTMA is also available at www.indianwindpower.com.




CONTACT DETAILS
Ravishankar, IWTMA, + 91 9789009922, rr@swl.co.in
Anu Lakshman, IPAN, + 91 9841039574, anu.lakshman@ipan.com

KEYWORDS
ENVIRONMENT, PEOPLE, BUSINESS SERVICES, ENERGY, MEDIA, TECHNOLOGY

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