Boasting one of the largest and most ambitious programmes for harnessing renewable energy, India is setting the pace in the global run towards clean energy transition
As economies double efforts to achieve their clean energy targets, India will remain at the forefront, with 3 percent of the Asia Pacific’s offshore wind capacity between 2024 and 2033 coming from the South Asian country, according to the Global Wind Energy Council (GWEC).
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 the installation and commissioning of 1 gigawatt (GW) of offshore wind energy projects (500 MW each off the coast of Gujarat and Tamil Nadu) and a grant of $60m for the upgradation of two ports to meet logistics requirements for offshore wind energy projects.
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 percent of its energy requirements shall be met by renewable energy.