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Private Sector | Multi State - India | PID: 203444
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President of India, Droupadi Murmu, has approved the government’s plan to award Viability Gap Funding (VGF) to boost offshore wind projects in India. The Ministry of New and Renewable Energy (MNRE), in its latest notification, stated that it has received approval for the plan.
With the President’s sanction, India is now set to provide VGF support for the development of around 1 GW of offshore wind projects. While India currently has about 47 GW of onshore wind energy, it lacks any offshore wind power projects. These types of projects are currently present in selected countries.
The VGF scheme for the implementation of offshore wind energy projects with a capacity of 1,000 MW will be valid from September 11, 2024, to FY 2031-32. The government has earmarked ?6,853 crore to support the deployment of 1 GW of offshore wind power projects. The Solar Energy Corporation of India (SECI) will implement the scheme.
These offshore wind projects will be developed off the coasts of Gujarat and Tamil Nadu. Earlier, the National Institute of Wind Energy (NIWE) conducted studies and surveys for a site equivalent to 1 GW project capacity off the coast of Gujarat, and it had published two years’ worth of wind assessment data. The first offshore wind project site, with a capacity of 500 MW, has been proposed off the Gujarat coast. The site for a 500 MW capacity project off the Tamil Nadu coast will be finalized once the study/survey for the same is completed by NIWE, according to the policy document related to offshore wind projects.
As per the plan, SECI will have the right to carry out physical inspections of an applicant’s project sites and offices. “It may take the help of third-party agencies for verification of technical parameters. If required, MNRE may also designate National Accreditation Board for Certification Bodies (NABCB) accredited agencies or third-party certification agencies, etc., for such verification,” the policy document read.
| Updated on: 26 - Sep - 2024
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