India accelerates offshore wind transition at G20

India’s G20 presidency pushes energy transformation with a high-level seminar on offshore wind, addressing deployment goals and partnership prospects.

India’s G20 presidency has paved the way for a remarkable leap forward in the country’s energy transition. Recently, the Ministry of New and Renewable Energy (MNRE) joined forces with the Global Wind Energy Council (GWEC) and the National Institute of Wind Energy (NIWE) to organise a high-level event titled “Harnessing Offshore Wind for Accelerating Energy Transition: The Way Forward.” This momentous occasion, held on May 16, 2023, in Mumbai, served as a platform for government representatives, financial institutions, and industry leaders to address the pressing priorities surrounding offshore wind deployment in India and globally.

During the discussion, Mr. Bhupinder Singh Bhalla, Secretary of MNRE, emphasised the crucial role of offshore wind in combating air pollution and mitigating climate change. He shed light on the immense job creation potential within the offshore wind value chain, underscoring India’s significant progress in utilising offshore wind for grid balancing. Mr. Bhalla also recognised the unique opportunity presented by India’s G20 Presidency, encouraging collaboration among offshore wind countries, businesses, and financial institutions to leverage their collective strengths in supporting clean energy transition goals at the national, regional, and global levels.

Mr. Alok Kumar, Chair of the Energy Transition Working Group (ETWG) and Secretary of the Ministry of Power, drew attention to the ever-growing significance of offshore wind in India’s power mix. He highlighted India’s vast offshore wind potential, which rivals the capacity of future hydro and nuclear energy installations. Mr. Kumar envisioned a mission-oriented approach beyond 2030, envisioning robust value chain development and increased industry participation to further accelerate India’s aspirations.

Providing insights into India’s progress, Mr. Dinesh Dayanand Jagdale, Joint Secretary of MNRE, outlined various facets of offshore wind, including proposed business models, upcoming tender rollouts, international collaborations, and extensive engagements between the government and industry. These efforts contribute to creating an enabling environment for the offshore wind sector.

Mr. Sumant Sinha, Chairperson of GWEC India, underscored the significance of collaboration between the government and industry. He emphasised the importance of partnerships between Indian and international offshore wind companies, power generators, and original equipment manufacturers. Long-term power purchase agreements (PPAs) and the development of essential infrastructure were key requirements for the sector. Mr. Sinha also stressed the need for supply chain resilience, ensuring the availability of customised equipment, ships, cables, and a skilled workforce.

The event featured two engaging panel discussions moderated by industry experts. Ms. Rebecca Williams, Global Head of Offshore Wind at GWEC, led the first-panel discussion titled “Role of the Global Offshore Wind Sector in Reaching Net Zero Targets.” The panel focused on sharing global offshore wind experiences, international best practices, supply chain priorities, and industry expectations for the emerging Indian offshore wind market.

The second panel discussion, “Financing and Capacity Building for Offshore,” delved into the diverse range of instruments available to support the development of an offshore wind ecosystem. Esteemed representatives from renowned organisations, including ADB, the World Bank, Corio Generation, Aon, NTPC REL Limited, NIWE, ReNew, IREDA, the Centre of Excellence on Offshore Wind and Renewable Energy, IEA, O2 Power, and SGRE, shared their insights and perspectives, providing a comprehensive view of financing and capacity building for offshore wind.