North American Windpower: India Ends Important Tax Break For Wind Projects

India Ends Important Tax Break For Wind Projects

by NAW Staff on Monday 02 April 2012

The Indian government has terminated a key tax break for wind power projects, Bloomberg reports.

Effective April 1, wind projects can only claim accelerated depreciation at 15%, down from the 80% allowed previously.

The cut is expected to have a significant impact on the nation's wind power industry.

"Investment could come to a standstill," Arvind Prasad, managing director of developer Ushdev Power Holdings and head of the Indian Wind Power Association, told Bloomberg.

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