By MarEx 2015-09-09 14:50:31
Indian Prime Minister Narendra Modi has announced that the nation will adopt offshore wind policies that will pave the way for development of offshore wind energy projects as well as research and development opportunities within India’s Exclusive Economic Zone extending 200 nautical miles from shore.
Modi has prioritized clean energy investment as India seeks to extend power to its rural communities and reduce pollution.
The new policies establish a framework of regulation for developers to begin planning projects, although the high cost of installing offshore turbines may limit production in the near future. “The development would help the country in moving forward towards attaining energy security and achievement of the National Action Plan on Climate Change targets,” the government said in a statement.
Currently, India has 23GW of onshore wind capacity and aims to produce 175GW of clean energy by 2022.