Indian government approves Rs 7,453 crore VGF scheme for 1GW offshore wind energy project in Gujarat and Tamil Nadu, marking India's first offshore wind energy venture.
The Indian government has approved a Rs 7,453 crore viability gap funding (VGF) scheme for establishing a 1GW offshore wind energy project in Gujarat and Tamil Nadu, marking India's first foray into offshore wind energy. The projects are expected to generate 3.72 billion units of renewable electricity annually, reducing CO2 emissions by 2.98 million tons over 25 years. The initiative is part of the National Offshore Wind Energy Policy and aims to support 37 GW of capacity initially, attracting Rs 4,50,000 crore in investments.
June 19, 2024
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