Offshore Wind Play Crucial Part in Transition to a Cleaner Future, Says Joint Secretary, MNRE
According to Dinesh Dayanand Jagdale, Viability Gap Funding (VGF) is almost attainable and the anticipatory approvals in the subsequent months and tenders will be floated thereafter through the Solar Energy Corporation of India (SECI).
September 15, 2023. By Nivedita Ojha
According to Jagdale, Viability Gap Funding (VGF) is almost attainable and the anticipatory approvals in the subsequent months and tenders will be floated thereafter through the Solar Energy Corporation of India (SECI).
There are two scheduled tenders, one for FY 2024 (December 2023) and another for FY 2025.
He stated, “This VGF is for one gigawatt of offshore wind support. The VGF-based model talks 500 MW in Gujarat and 500 MW in Tamil Nadu… The Gujarat one is in an advanced stage as the data for it is available through NIWE.”
In a move to get offshore wind up and running, the Ministry of New and Renewable Energy (MNRE) released a revised strategy paper in August, highlighting major offshore wind sites and giving three different models for development. The process has been delayed as developers and experts will assist in facilitating investments in the offshore wind sector.
Jagdale further added that the required Central Transmission Utility documentation is now being completed, and it will be submitted to a committee for approval at the upcoming meeting in October. Central Transmission Utility is preparing to build infrastructure for 10 GW, which will reduce the risks associated with evacuation and increase visibility for the investing community.
However, India has set forth an aspirational goal to auction 37 GW of offshore site leases over the subsequent seven years, spanning until FY 2030. The first phase will commence with 4.5 GW of offshore wind tenders in the current fiscal year (FY 2024), followed by 3.5 GW in FY 2025.
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