The government has invited the industry to explore India’s first offshore wind energy project proposal, following its plans to achieve 5 GW project capacity by 2022 in this area which has not yet been explored in the country.
The offshore wind resource base in India makes for a strong case, but such projects involve higher upfront investment, and the success of this venture will depend on whether the government decides to subsidise the sector, industry experts say.
“The global expression of interest (EoI) is intended to shortlist prospective offshore wind energy developers for a 1000 MW offshore wind energy project in Gulf of Khambat, off the coast of Gujarat,” an official statement from the Ministry of new and renewable energy said on Wednesday.
Power from wind and solar sources in India have reached grid parity after tariffs fell to as low as Rs 2.43 per unit in the wind auction conducted by solar energy corporation of India in December last year. Even as tariffs have seen some northward movement in recent solar and wind auctions, they still hover below Rs 3 per unit. Read More