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    India releases draft document for 4 GW of offshore wind leasing


    November 16, 2022 - SeeNews Renewables

     

      November 16 (Renewables Now) - India’s Ministry of New and Renewable Energy on Monday released a draft tender document for 4 GW of offshore wind leasing off the coast of the southern state of Tamil Nadu.

      The Indian government signaled plans for an inaugural 4-GW offshore wind tender in June.

      The draft proposes to lease out seabed areas for 4 GW equivalent offshore wind project capacity across five sub-blocks off the coast of Tamil Nadu in the Gulf of Mannar during the 2022/23 financial year, which runs through March 2023. The leasing will be through international competitive bidding in the form of a single-stage, two-envelope bidding procedure.

      The potential of the sub-blocks is estimated at between 3.9 GW, which is their collective tentative minimum potential, and 5.2 GW.

      The document says that bidders will be able to take advantage of any fiscal incentives like accelerated depreciation, concessional customs and excise duties, tax holidays that may be available for onshore wind projects in India. The bidding itself is not related to any fiscal incentives. The power generated could be used for captive consumption under open access mechanism, sold through a bilateral power purchase agreement or sold through power exchanges without financial support from the government.

      Comments on the document are due by November 28.

      Through the leasing auction, the government wants to introduce new green energy generation sources to contribute to the country’s net zero by 2070 target, develop offshore wind expertise, create international collaborations needed for the delivery of power projects, and foster economic and employment opportunities.

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