- Published: 25 August 2023 25 August 2023
India's Ministry of New and Renewable Energy (MNRE) has unveiled a comprehensive strategy for offshore wind development, featuring three distinct auction models, aimed at achieving a total capacity of 37 GW.
Model-A involves central financial aid in the form of Viability Gap Funding (VGF) for specified offshore zones with predetermined power tariffs. Model-B grants exclusivity over seabed but lacks VGF support, while Model-C permits developers to conduct studies in Exclusive Economic Zone sites without VGF or seabed exclusivity. MNRE targets both auction-based and fixed-lease approaches to boost offshore wind energy, laying out a roadmap for sustainable growth.