India’s G20 Presidency unites offshore wind for clean energy

India’s offshore wind potential is comparable to its hydro and nuclear capacities, and a long-term vision beyond 2030 could lead to the development.

India’s G20 Presidency presents a valuable opportunity for collaboration among offshore wind countries, businesses, and financial institutions in driving clean energy transition, according to Shri Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy (MNRE). Under the G20 Presidency, the MNRE, in partnership with the Global Wind Energy Council (GWEC) and the National Institute of Wind Energy (NIWE), organised a significant event in Mumbai on May 16, 2023, called “Harnessing Offshore Wind for Accelerating Energy Transition: The Way Forward.”

This event served as a platform for government representatives, financial institutions, and industry leaders to address critical priorities for promoting offshore wind deployment in India and worldwide. These priorities included streamlining permits and clearances, strengthening the supply chain, securing low-cost financing, enhancing capacity building, and increasing business volumes to attract investment.

Bhalla highlighted the role of offshore wind in combatting air pollution and mitigating climate change. He emphasised the employment opportunities associated with the development of the offshore wind value chain and highlighted India’s progress in harnessing offshore wind to balance its power grid. Furthermore, he emphasised that India’s G20 Presidency offers a chance for collaboration among offshore wind stakeholders to support national, regional, and global clean energy transition goals.

Alok Kumar, Chair of the Energy Transition Working Group (ETWG) and Secretary of the Ministry of Power, India, emphasised the growing significance of offshore wind in India’s power mix. He noted that India’s offshore wind potential is comparable to its hydro and nuclear capacities and suggested that a long-term vision beyond 2030 could lead to the development of a robust value chain and greater industry involvement.

Dinesh Dayanand Jagdale, Joint Secretary of the MNRE, provided insights into India’s progress in various aspects of offshore wind, such as proposed business models, upcoming tenders, international collaborations, and government-industry engagement to create an enabling environment.

The event featured two high-level panel discussions moderated by Rebecca Williams, Global Head of Offshore Wind at GWEC, and Chintan Shah, former Director of IREDA. The panels explored topics including the global offshore wind sector’s role in achieving net-zero targets, international best practices, supply chain priorities, and industry expectations from the emerging Indian offshore wind market. The panel discussion on financing and capacity building for offshore wind presented a comprehensive overview of available instruments to support the development of an offshore wind ecosystem. Representatives from organisations such as ADB, World Bank, Corio Generation, Aon, NTPC REL Limited, NIWE, ReNew, IREDA, Center of Excellence on Offshore Wind and Renewable Energy, IEA, O2 Power, and SGRE participated in these discussions.