India to account for 3% of APAC’s offshore wind capacity between 2024-2033

This is in line with its Viability Gap Funding scheme for offshore wind plants.

As economies double efforts to achieve their clean energy targets, India will remain at the forefront, with 3% of the Asia Pacific’s offshore wind capacity between 2024 to 2033 seen coming from the South Asian country, according to the Global Wind Energy Council (GWEC).

“With one of the largest and most ambitious programs for harnessing renewable energy, India is at the forefront of the clean energy transition,” GWEC said in a statement.

In June, India approved its Viability Gap Funding (VGF) scheme for offshore wind energy projects with a total outlay of $890m. This includes $690m for installation and commissioning of 1 gigawatts (GW) of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu), and a grant of $60m for upgradation of two ports to meet logistics requirements for offshore wind energy projects.

“This will lay a strong foundation for success in the 37 GW sea bed lease tender trajectory aimed at harnessing the offshore wind potential in the country,” said Bhupinder Singh Bhalla, secretary of India’s Ministry of New and Renewable Energy.

Based on India’s National Institute of Wind Energy, the country has over 70 GW of potential for offshore wind off the coasts of Tamil Nadu and Gujarat.

India has committed to adding 500 GW of non-fossil fuel capacity by 2030 and that 50% of its energy requirements shall be met by renewable energy.