Fund to be created out of penalties to promote wind energy projects
Power Grid Corporation Chairman Pramod Deo has suggested that CERC (Central Elctricity Regulatory Commission) has approved the creation of a fund, that will be created out of the penalties paid by state-run power distribution utilities. This fund will be used to promote wind energy projects of 10 MW or more. Economic Times reported quoting him that the renewable regulatory fund would bear charges imposed on states hosting wind projects that fail to comply with their energy supply commitments to the electricity grid.
As per research done by RNCOS, Indian wind energy sector has witnessed some notable milestones in its long development tenure in the country. The wind power contributes 70% of the grid interactive renewable power installed in India, which is expected to remain almost constant in the coming years. With the continuous public and private sector participation, the sector is all set to achieve nearly 14% CAGR growth in cumulative capacity installations during FY 2011-FY 2014.
Source: http://articles.economictimes.indiatimes.com/2011-03-14/news/28688447_1_wind-projects-wind-energy-solar-power
