Draft offshore wind energy policy released

The Ministry of New and Renewable Energy released a draft national offshore wind energy policy for 2013. According to the policy, onshore wind energy has reached a stage of deployment that makes it competitive with traditional fossil fuel power generation.

The draft National Offshore Wind Energy Policy provides certain fiscal incentives such as

- Tax holiday for first ten years of offshore wind power generation,
- Concession in customs duty and exemption in excise duty for procurement of technology and equipment, and
- Services like resource assessment, environmental impact statement and oceanographic study by third party and use of survey vessels and installation vessels eligible for exemption from service tax