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.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement