Suzlon eyes India policy boost
Wind group Suzlon expects to see turbine orders of 300MW-500MW in its home market this financial year thanks to favourable regulatory changes in key states, a company official told the Indian press.
An unnamed senior Suzlon executive is quoted by the Press Trust of India as saying policy amendments in states such as Rajasthan and Madhya Pradesh will fuel orders.
"The major markets for new projects in India are states like Rajasthan, Madhya Pradesh, Seemandhara and Gujarat," the official told PTI. "We are well positioned to convert these opportunities into sales and implementation."
India‘s wind market is also expected to benefit from the reintroduction of the accelerated depreciation (AD) scheme, which would join the revived Generation Based Incentive (GBI) in helping boost wind development at a national level.
India’s Ministry of New and Renewable Energy (MNRE) is planning later this year to set up a National Wind Mission to co-ordinate wind development in the country.
India installed 1.73GW of new wind capacity in 2013, according to the Global Wind Energy Council, roughly on a par with its lacklustre 2012 performance, and down nearly 50% in 2011.
The slowdown in the Indian market has hurt Suzlon, adding to challenges at the company as it attempts to restructure its debts and get back on a sound financial footing.