More Power To Wind
The government is providing a shot in the arm to the wind energy industry, which is battling dipping prices and low demand.
The government is providing a shot in the arm to the wind energy industry, which is battling dipping prices and low demand. The Solar Energy Corporation of India (SECI), a PSU that promotes renewable energy, will be coming up with three more rounds of bids for wind energy farms, each offering 1,500 MW.
Domestic equipment manufacturing firms, smarting from layoffs, are likely to benefit from the additional 4,500 MW. Unlike solar, in wind, much of the manufacturing is done within the country. Therefore, wind power companies will be in a position to match the falling prices.
The problem began when a February bid invite by SECI brought about a price war. By October, the tariff fell to `2.64 per unit and manufacturers feared extinction. This move by the Ministry of New and Renewable Energy may improve the industry’s prospects.
Source: businesstoday.in
