Budget disappointment for renewable energy sector

Chennai:
Renewable energy sector expressed disappointment over the budget
stating thatthere is nothing supportive for wind and solar enery.
“The Union Budget has been a disappointment for the wind energy sector
at a time when the wind energy was generating a sizable share of 5 per
cent of electricity at the All India level. Even after our
representation to the Union Planning Commission and the Union Ministry
of New and Renewable Energy, the wind energy sector did not see any
priority sector lending and reduction in the interest rates making the
wind energy projects unviable with the present tariff rates”, said
Ramesh Kymal, Chairman and Managing Director of GAMESA Wind Turbines
Private Limited.
 Kymal, who is the voice of the wind energy industry in the capacity
as the Chairman of the Indian Wind Turbine Manufacturers’ Association
(IWTMA) and Chairman of the Standing Governing Council of the CII
(Confederation of the Indian Industry),  was expecting the interest
rates to be brought down through the Clean Energy Fund.  “We have been
let down”, Kymal added. “We are looking for a level playing field with
the conventional power, but we find is that the subsidies for Oil is
increasing and duty free coal is being allowed.”
 While the Union Finance Minister has announced customs duty exemption
on imported coal and natural gas for power projects, Kymal felt that
there was nothing supportive in the Budget for the wind and solar
energy in particular. “We had great expectations in the Budget for
coming out with investor-friendly initiatives towards the wind energy
sector but we feel that our high expectations have been belied”, Kymal
added.

Sarvesh, deputy managing director of RRB Energy Ltd said, “When the
fossil fuel category even got some concessions making it attractive
options of energy generation, clean energy source (wind & solar) has
been left out by this budget; we expected Wind energy to see great
traction with budgetary support in terms of investment boost not only
in terms of setting up wind farms but also in terms of R & D and
advanced technology initiatives which will help us bridge the energy
deficit the country is facing with the promise of unlimited wind power
to meet the power needs of a growing economy”.