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September 13,2024

President Approves 6853 cr VGF for 1 GW Offshore Wind Projects

President Droupadi Murmu has approved a plan to provide Viability Gap Funding (VGF) for offshore wind projects in India. The Ministry of New and Renewable Energy (MNRE) will support the development of 1 GW of offshore wind capacity with ₹6,853 crore. The projects will be implemented by the SECI off the Gujarat and Tamil Nadu coasts, with the scheme running from September 11, 2024, to FY 2031-32.

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