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Wind Power – India offers $81 million subsidy

* Incentive is for projects that feed national grid

* Subsidy will help attract large companies – analyst

By Ketan Bondre

MUMBAI, Dec 17 (Reuters) – India will offer 3.8 billion rupees ($81 million) in incentives to wind power projects that feed into the national grid, the government said on Thursday, a move analysts believe will attract large companies.

The country ranked fourth in the world after Germany, Spain and the United States in grid-connected wind projects, with 9,587 megawatt (MW) of capacity in November 2008 that fed over 54 billion units of electricity to the grid, official data showed.

Wind power projects will be given 0.5 rupee for each unit of power fed into the grid with a ceiling of 6.2 million rupees per MW for a minimum 4 years and maximum 10 years, the ministry of new and renewable energy said in a statement on its website.

The subsidy will be for projects of up to 4,000 MW until 2012, it said.

This looks better than an existing tax benefit scheme because Read more »

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New York
Long Island Power Authority (LIPA) president and CEO, Kevin Law this week announced that the LIPA Board of Trustees approved power purchase agreements (PPAs) with BP Solar and enXco Development Corp., creating the state’s largest source of solar power on Long Island. LIPA’s Solar Energy Project will introduce approximately 50 megawatts (MW) of renewable energy generated on Long Island onto LIPA’s electric grid.

LIPA will enter into PPAs with BP Solar and enXco Development Corp. to provide Read more »