Enabling environment - Policy and regulatory focus on project execution and market innovation

The policy environment over the past year has helped set the stage for a more competitive renewable energy market in India. The current capacity has been achieved largely due to supportive legal framework anchored in the Electricity Act, 2003, which has been complemented by capital subsidies, feed-in tarriffs (FiTs), accelerated depreciation and, more recently, generation-based incentives (GBI).