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Government Targets to Rejuvenate Offshore Wind Capacities

<p><span style="font-size:9.0pt">India has around 8,000 Km of coastline, encompassing a huge potential for Offshore Wind. Offshore wind potential in India is still unutilized due to high Project cost and complexities involved in Operation Maintenance and laying of underground Evacuation Facilities. Tariff for Offshore wind projects also soars high around Rs. 5 to 7 per unit, which is non-competitive with existing tariffs of wind and solar energy in India.</span></p> <p><span style="font-size:9.0pt">Ministry has set 5 GW of Installation targets in its ambitious Renewable Energy Plan by 2022 and have acclaimed to enhance capacities of 30 GW by 2030. For prompt expedition of Offshore Wind Capacities, government must mull over issues involved in setting up of Offshore Wind projects specifically in wind rich states like Gujarat &amp; Tamil Nadu. To bring the cost down government also needs to allow incremental tariffs.</span></p> <p><span style="font-size:9pt">Elicited interest from leading wind players in India and Abroad was seen in the last 1 GW Offshore Wind tender. In next decade India is envisaged to be among leading market in Offshore Wind Market&nbsp;Segment.</span></p>