The MOU was signed in the presence of India’s Union Minister of State for Power, Coal and New & Renewable Energy, Shri Piyush Goyal. It was signed by the Ministry of New and Renewable Energy (MNRE) and a consortium of partners consisting of the National Thermal Power Corporation (NTPC), the Power Grid Corporation of India Ltd (PGCIL), Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation (PFC), Power Trading Corporation (PTC), and Gujarat Power Corporation Ltd (GPCL).
Shri Piyush Goyal described the signature as a great opportunity in the development of renewable energy resources in the country. He also pointed out that Prime Minister Shri Narendra Modi’s message in the US was loud and clear that renewable energy is the way to go, it dovetails world’s concerns about climate change and it clearly enhances India’s energy security. Considering the country’s 7600 km long coastal line , Shri Goyal added that the opportunities for scaling up are humongous. The Minister also suggested for building partnership with Defence, Coast guard and Shipping to ensure seamless and time bound approval process.
The proposed demonstration project will have around 100 MW of capacity and may draw on state subsidy for the setting up of accompanying evacuation and transmission infrastructure. This may also include funding for studies such as the wind resource assessment, Environmental Impact Assessment (EIA), oceanographic survey and bathymetric studies. The Ministry would also assist in obtaining clearances involved during the implementation of the project.
Onshore wind power development is the fastest growing renewable energy option in India and has now reached a commercial stage with more than 22 GW of installed capacity supported by funding from private investment. The country has around 7,600 kilometres of coastline, offering a huge potential for offshore wind power development. To this end, the Ministry has now taken the initiative by announcing a Draft National Offshore Wind Energy Policy as well as preparing a Draft Cabinet note on National Offshore Wind Energy Policy which will be circulated for inter-ministerial comments.
The Joint Venture Company will now undertake a detailed feasibility study based on the inputs received from pre-feasibility studies and necessary steps for implementation of the first offshore demonstration wind power project.
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