The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Viability Gap Funding (VGF) initiative to establish the country’s first offshore wind energy projects.
The effort, worth Rs.7453 million, is a critical step in implementing the National Offshore Wind Energy Policy launched in 2015.
The VGF scheme has allocated Rs.6853 crore to install and commission 1 GW of offshore wind energy projects.
This includes two 500-MW projects to be...