The Indian Government has launched tenders for the development of 4 GW of offshore wind capacity off the coast of Tamil Nadu (southern India). The bids invited are for four blocks of 1 GW each on an open access basis through international competitive bidding. Under this auction, selected developers for each block will set up 1 GW of offshore wind capacity and sell electricity directly to consumers under an open access regime. The tenders have been invited through the Solar Energy Corporation of India (SECI), and bids can be submitted until 6 May 2024.
In addition, the Indian Ministry of Finance has announced that it intends to provide viability gap funding (VGF) for an initial 1 GW of offshore wind power capacity. The announcement was made as part of the Interim Union Budget presentation for the fiscal year 2024/25, but no further details were given yet on the funding scheme.
At the end of 2022, solar and wind accounted for 22% of installed capacity in India, with respectively 63 GW and 42 GW, while hydropower capacity surpassed 51 GW. India plans to increase its non-fossil fuel capacity to 500 GW. As of end-2022, India did not yet possess offshore wind capacity.
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