The Centre has formally approved the 'generation-based incentive' scheme for wind power projects.
As per the new scheme, the government of India will provide an incentive of 50 paise per kWhr of electricity generated by wind projects registered under the scheme. The incentive will, however, stop once the payout reaches Rs one crore per MW of capacity.
The incentive of Rs one crore can be drawn in not fewer than four years and not more than 10 years.
The projects set up last year too will be eligible for registration under the scheme.