<div>The government has signed a memorandum of understanding with a group of companies to build the country's first ever offshore wind power project as part of New Delhi's pledge to increase renewable energy sources.</div><div> </div><div>The 100 megawatt plant will lie off the coast of Gujarat and be partly financed by state subsidies.</div><div> </div><div>The company, for which MoU was signed between the Ministry of New and Renewable Energy and other partners, will undertake detailed study based on the inputs received from pre-feasibility studies and necessary steps for implementation of the project.</div><div> </div><div>The consortium includes National Thermal Power Corporation (NTPC), Power Grid Corporation of India Ltd (PGCIL), Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation (PFC), Power Trading Corporation (PTC) and Gujarat Power Corporation Ltd (GPCL).</div><div> </div><div>Renewable energy sources such as solar and onshore wind farms currently generate less than 2 per cent of India's energy needs, with coal fuelling the generation of around three fifths and gas and hydropower most of the remainder.</div><div> </div><div>Prime Minister Narendra Modi, who oversaw the launch of several solar power plants in Gujarat when he was chief minister of the state, has said India needs to expand its renewable energy capacity to help meet rapidly growing demand.</div><div> </div><div>Union Renewable Energy Minister Piyush Goyal said the project is a "great opportunity in the development of renewable energy resources in the country."</div><div> </div><div>It has been proposed to provide subsidy for setting up of evacuation and transmission infrastructure of the offshore wind power to the main land, besides provide financial support for carrying out studies such as wind resource assessment, Environment Impact Assessment (EIA), oceanographic survey and Bathymetric studies.</div><div> </div><div>The renewable energy ministry would also assist in obtaining clearances involved during the implementation of the project.</div><div> </div><div>"Partnerships should be built with Defence, Coast Guard and Shipping to ensure seamless and time bound approval process," Goyal said.</div><div> </div><div>(Agencies)</div>
