India Greenlights Major Offshore Wind Energy Initiative

The Union Cabinet has approved a viability gap funding scheme with a total outlay of Rs 7,453 crore for one GW offshore wind energy projects in Gujarat and Tamil Nadu. This marks India's first offshore wind projects, aiming to significantly reduce CO2 emissions and create a sustainable ecosystem for ocean-based economic activities.

The Union Cabinet has given the green light to a viability gap funding (VGF) scheme worth Rs 7,453 crore for establishing one gigawatt (GW) of offshore wind energy projects in Gujarat and Tamil Nadu. These will be India's first-ever offshore wind projects, announced I&B Minister Ashwini Vaishnaw.

The VGF scheme includes Rs 6,853 crore for the installation and commissioning of 500 MW wind projects off the coast of Gujarat and Tamil Nadu and Rs 600 crore to upgrade two ports for logistical support. These projects are expected to generate 3.72 billion units of renewable electricity annually, reducing CO2 emissions by 2.98 million tons for 25 years.

The initiative, part of the National Offshore Wind Energy Policy, will boost India's offshore wind energy development, supporting 37 GW of capacity initially and attracting Rs 4,50,000 crore in investments. The Ministry of New and Renewable Energy will coordinate inter-ministerial efforts to ensure successful project execution, aided by private developers and Power Grid Corporation of India Ltd for infrastructure.

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