India will put an end to tax breaks for wind farms beginning in April, which marks the start of the fiscal year, Bloomberg reports.
Dilip Nigam, director of policy at India's Ministry of New and Renewable Energy, told Bloomberg that accelerated depreciation – which allows companies to write off investments at a faster rate, helping to reduce tax liabilities – will end in April.
Nigam also told Bloomberg that the government will either end the wind energy incentive on March 31 or introduce a new taxation framework by then. According to Bloomberg, without the tax incentives, installations could fall by as much as 15%.
Suzlon currently controls about half of the wind turbine market in India.
The full Bloomberg report can be viewed here.
