FM announces financial incentive for offshore wind energy in Budget 2024
Thu, Feb 1, 2024 2:28 PM

FM announces financial incentive for offshore wind energy in Budget 2024

A Flip by Shubhangi Gupta
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India's Interim Budget 2024 announced a VGF of one GW for offshore wind energy as part of the country's commitment to achieve 'net-zero' emissions by 2070. This move is significant as India has no current offshore wind projects and will require interventions to reach its net-zero target. The new Offshore Wind Energy Lease Rules, 2023 were also notified to promote this renewable energy source.

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