New Delhi: Torrent Power received Rs 42.21 crore as generation-based incentive (GBI) by the Indian Renewable Energy Development Agency (IREDA) for the April-January period of the current financial year 2019-20 (FY20), according to data tabled in Parliament last month.
The Ahmedabad-based firm picked up the highest amount among the list of 311 companies, which received subsidy from IREDA as GBI for wind projects. The list was presented by the new and renewable energy minister R K Singh in a written reply to a question.
For the 10-month period of FY20, IREDA released total GBI to the tune of Rs 1,012 crore to various companies under its wind power schemes.
Other wind firms that received the highest incentives followed by Torrent power were CLP Wind Farms, Tadas Wind Energy, and PTC Energy with Rs 35.78 crore, Rs 31.80 crore, and Rs 25.94 crore incentives, respectively, for the same period.
The GBI scheme is aimed at broadening investor base, incentivising actual generation with the help of a generation- and outcome-based incentive, and also to facilitate entry of large independent power producers, foreign direct investment to the wind sector.
For incentives under solar power schemes, IREDA released a total of Rs 77.36 crore to 14 firms for the 10-month period of the current financial year, according to the document.
Among these firms, Jharkhand State Electricity Board received the highest GBI at about Rs 17.46 crore for the April-January period of FY20