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Government nods to JVs for wind energy projects

The Union Cabinet has approved the proposal for establishment of wind energy estates by joint sector companies -- that is, for equity participation by Indian Renewable Energy Development Agency Limited in the joint sector companies.

The ministry of non-conventional energy sources has initiated the concept of wind energy estates in the joint sector to enable a private sector promoter / investor have majority participation and management control in the proposed wind energy estate.

Promotional equity will be provided by the state governments (25 per cent) and IREDA (24 per cent) -- a public sector financial institution under the ministry of non-conventional energy sources.

A series of initiatives by the ministry such as intensive wind resource assessment demonstration projects in potential states, liberal import policies for wind energy equipment, fiscal incentives including 100 per cent accelerated depreciation benefit and the progressive policies announced by the states with regard to buyback, banking, wheeling and third party sale of electricity have contributed to spurt in interest in wind power projects.

The Cabinet also approved the proposal for participation of the ONGC Videsh Limited in the Udmurt exploration-cum-development project in Russia.

This will increase India's oil equity abroad and enhance oil security of the country.

The Cabinet also approved the proposal for developing the Central Industrial Security Force into an expert organisation for providing consultancy services in the field of industrial security in the private sector. A provision to this effect will beincorporated in the CISF Act.

The sanctioned strength of the force today is approximately 94,000. Today it is deployed in 222 public sector undertakings.

UNI

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