Budget may announce viability gap funding for offshore wind projects
11 months, 1 week ago

Budget may announce viability gap funding for offshore wind projects

Live Mint  

New Delhi: In a move that could significantly boost India's offshore wind energy sector, the Union Budget for fiscal year 2024-2025 is expected to propose a viability gap funding scheme with an outlay of ₹6,000 crore. The Centre had notified the ‘National Offshore Wind Energy Policy’ in October 2015, but projects under this failed to take off given the high investments and a lack of economic viability. The ministry's estimates indicate a need for ₹14,212 crore in VGF to set up 3 GW of offshore wind energy capacity, along with an additional ₹13,500 crore for transmission and power evacuation infrastructure. The September strategy paper for offshore wind projects had, however, recommended that VGF should be initially provided for 1 GW capacity.

India Energy Budget Wind Power Projects Offshore Offshore Wind Offshore Wind Projects Viability Gap Gw Capacity Funding Vgf  offshore  gw  capacity  renewable  crore  power  wind  budget  viability  gap  energy  funding  vgf  projects  announce

History of this topic

Hanging in The Air: Parliamentary Panel Asks Govt to Expedite Policy on Repowering Old Wind Turbines
1 year, 4 months ago

Hanging in The Air: Parliamentary Panel Asks Govt to Expedite Policy on Repowering Old Wind Turbines

News 18  

With the draft policy on repowering old wind turbines hanging fire six years after it was issued, a parliamentary committee has asked the government to get the revised plan approved as early as possible and ensure its timely implementation. According to an estimate made by the National Institute of Wind Energy, India has a repowering potential of around 25, 406 …

Tamil Nadu has a long way to go in tapping offshore wind energy
2 years, 5 months ago

Tamil Nadu has a long way to go in tapping offshore wind energy

The Hindu  

While the Central and Tamil Nadu governments have, in recent weeks, initiated measures to tap into offshore wind energy, the State may still have a long way to go in achieving success. Tamil Nadu Electricity Minister V Senthilbalaji had earlier this week visited offshore wind farms in the United Kingdom along with a delegation of State government officials. He visited …

India needs $223 billion to meet 2030 renewable capacity goals: Report
2 years, 6 months ago

India needs $223 billion to meet 2030 renewable capacity goals: Report

The Hindu  

India will need $223 billion of investment to meet its goal of wind and solar capacity installations by 2030, according to a new report by research company BloombergNEF. "To achieve this target, India needs to massively scale up funding for renewables," the report said, adding that $223 billion is required over the next eight years just to meet the solar …

Discover Related