The State government has announced its wind energy policy which is expected to attract more investments
KOCHI: The wind energy project being executed by Suzlon at Agali is fast nearing completion.
The production of energy is expected to begin next month, according to S. Sekhar, general manager, marketing, of Suzlon.
Speaking at a function organised by The Indus Entrepreneurs (TIE), an organisation of entrepreneurs, here, he said the entire potential of wind energy available in Kerala could be harnessed. While Tamil Nadu had already harnessed the majority of the available potential, Kerala remained low in tapping wind energy sources. But the power purchase rate offered by Kerala was higher than the existing rate in Tamil Nadu.
Kerala-based entrepreneurs had already invested about Rs.200 crore in wind energy projects outside the State. The State government had announced the wind energy policy.
This would help attract more investments in the sector in Kerala, he said.
Globally, generation of wind energy quadrupled during the period from 2000 to 2006. Wind energy produced in 2006 was able to substitute the energy produced from 10 MT of coal, according to him. This would mean less carbon emissions into the global environment.
As a clean, green and sustainable source of energy, wind power was being encouraged by various countries. India occupied fourth position in terms of wind power generation.
Companies and individuals can invest in wind energy projects.
Apart from eligibility for carbon credits under the clean development mechanism, the investor can get tax benefits also.
The revenue from wind power generation is exempted from income tax for 10 years within a span of 15 years. The company was providing end-to-end solutions for the investors, Mr. Sekhar said.