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Rupee Threatens India’s Wind Industry Budding Recovery

The rupee’s biggest plunge in 20 years is endangering the recovery of India’s $1.6 billion wind power industry as higher finance and import costs negate benefits from a government subsidy restored last month.

The currency’s 17 percent slide against the dollar this year has stalled new investment plans, said Mahesh Makhija, director of renewables at the Indian unit of CLP Holdings Ltd., the largest owner of farms in India. Turbine makers such as Suzlon Energy Ltd. and Gamesa Corp Tecnologica SA, who count India among their top three markets, may raise prices, he said.