(a) whether the foreign investment in wind energy is nominal;
(b) if so, the reasons therefor;
(c) whether the Government proposes to start any special scheme to assess the wind energy sources in various States including Madhya Pradesh;
(d) if so, the details thereof;
(e) whether the Government proposes to amend foreign investment policy to attract more investment in wind energy sector;
(f) if so, the details thereof; and
(g) if not, the reasons therefor?
THE MINISTER OF NEW AND RENEWABLE ENERGY (DR. FAROOQ ABDULLAH)
(a)&(b): No Madam. Wind Energy is the fastest growing renewable energy sector in the country and the foreign investment inflow in this sector is significant. An investment of about Rs.1510 crore has been received as Foreign Direct Investment (FDI) in the wind energy sector during the last three years and the current year (upto June, 2011).
(c)&(d): The Centre for Wind Energy Technology (C-WET), an autonomous institution of this Ministry has been undertaking wind resource assessment studies in the country including Madhya Pradesh. A total of 627 locations in the country have been covered so far which include 37 in Madhya Pradesh.
(e),(f)&(g): FDI upto 100% under the automatic route is permitted in renewable energy generation and distribution projects including wind energy, subject to provisions of the Electricity Act , 2003. Besides existing policy enablers under the Electricity Act, other key initiatives taken in recent past to attract foreign investment in wind energy sector include introduction of a Generation Based Incentive scheme for wind power projects which do not avail accelerated depreciation.