India’s $3 Billion Wind Market to Slump as Tax Break May End
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Ending a federal tax break for wind farms in India, the largest market for turbines after China and the U.S., would cause a $540 million drop in demand just as suppliers including General Electric Co. expand local capacity.
Wind park installations may fall 15 percent in the financial year starting April 2012 from the 2,600 megawatts projected for this year should the benefit be discontinued, said Ashish Sethia, lead analyst with Bloomberg New Energy Finance in New Delhi.