India Introduces VGF Program for Offshore Wind Projects
POWER & RENEWABLE ENERGY

India Introduces VGF Program for Offshore Wind Projects

India has unveiled a Viability Gap Funding (VGF) program aimed at accelerating the development of offshore wind projects in the country. The program is designed to incentivize private sector participation in offshore wind energy development, facilitating India's transition towards sustainable and renewable energy sources.

Under the VGF program, the government will provide financial support to eligible offshore wind projects to bridge the viability gap and attract investment. This initiative aims to address the challenges associated with high upfront costs and risks involved in offshore wind energy development, making such projects more financially attractive to developers and investors.

The introduction of the VGF program underscores India's commitment to expanding its renewable energy portfolio and achieving its ambitious clean energy targets. By incentivizing offshore wind projects, the government aims to harness the vast potential of India's coastal regions for clean energy generation while reducing dependence on fossil fuels and mitigating carbon emissions.

The VGF program is expected to unlock new opportunities for domestic and international players in the offshore wind sector, fostering innovation, technology transfer, and job creation in the renewable energy industry. It is also poised to contribute to India's efforts to enhance energy security, reduce air pollution, and mitigate the impacts of climate change.

Overall, the launch of the VGF program for offshore wind projects signifies a significant step towards accelerating India's transition to a sustainable energy future and promoting green growth in the country's renewable energy sector.

India has unveiled a Viability Gap Funding (VGF) program aimed at accelerating the development of offshore wind projects in the country. The program is designed to incentivize private sector participation in offshore wind energy development, facilitating India's transition towards sustainable and renewable energy sources. Under the VGF program, the government will provide financial support to eligible offshore wind projects to bridge the viability gap and attract investment. This initiative aims to address the challenges associated with high upfront costs and risks involved in offshore wind energy development, making such projects more financially attractive to developers and investors. The introduction of the VGF program underscores India's commitment to expanding its renewable energy portfolio and achieving its ambitious clean energy targets. By incentivizing offshore wind projects, the government aims to harness the vast potential of India's coastal regions for clean energy generation while reducing dependence on fossil fuels and mitigating carbon emissions. The VGF program is expected to unlock new opportunities for domestic and international players in the offshore wind sector, fostering innovation, technology transfer, and job creation in the renewable energy industry. It is also poised to contribute to India's efforts to enhance energy security, reduce air pollution, and mitigate the impacts of climate change. Overall, the launch of the VGF program for offshore wind projects signifies a significant step towards accelerating India's transition to a sustainable energy future and promoting green growth in the country's renewable energy sector.

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?