By Ritesh Gupta

A memorandum of understanding for setting up a joint venture company undertaking the first demonstration offshore wind power project has been signed.

This organisation will undertake a feasibility study based on the inputs received from pre-feasibility studies and necessary steps for implementation of the first offshore demonstration project.

The MoU was signed by Ministry of New and Renewable Energy, National Institute of Wind Energy, and consortium of partners consisting of National Thermal Power Corporation (NTPC), Power Grid Corporation of India (PGCIL), Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation, Power Trading Corporation, and Gujarat Power Corporation. The Ministry would assist in obtaining clearances involved during the implementation of the project.

The Ministry shared that the plan is to offer subsidy for setting up of evacuation and transmission infrastructure of the offshore wind power to the main land including financial support for carrying out studies such as wind resource assessment, environment impact assessment (EIA), and an oceanographic survey, etc.