A memorandum of understanding regarding the creation of an offshore wind power project was signed in India in October, according to a press release from the Government of India. The parties involved in the MOU were the Ministry of New and Renewable Energy, the National Institute of Wind Energy, the National Thermal Power Corporation, Power Grid Corporation of India Ltd, the Indian Renewable Energy Development Agency, Power Finance Corporation, Power Trading Corporation and Gujarat Power Corporation Ltd.
The MOU displayed these private businesses' and state agencies' intention to create a joint venture, which will build the first offshore wind power project in the nation. The wind project will be located along the Gujarat coast, according to the source, and is anticipated to have approximately 100 megawatts of capacity.
Prior to construction beginning, the joint venture company will perform a feasibility study, the source reported. There currently is no timeline for when the study must be finished and construction started.
Renewable energy needed in India
India's energy demand continues to grow. As of 2012, the nation's energy consumption relied heavily on coal, petroleum and other liquids, as well as biomass and waste, according to the U.S. Energy Information Administration.
To meet the country's rising demand for energy, Prime Minister Narendra Modi intends to increase the amount of renewable energy generated in India. He plans to use renewable energy sources to provide power to every household in the country by 2019, Bloomberg reported.
India currently has 22,000 MW of wind power capcity from facilities on land, but with about 4,723 miles of coastline surrounding the nation, Modi has ample opportunity to delve into offshore wind power generation.