"An MOU (Memorandum of Understanding) for setting up a Joint Venture Company towards undertaking the offshore wind power project in the country along the Gujarat coast has been signed," an official statement said.

The MoU was signed by Ministry of New and Renewable Energy (MNRE), National Institute of Wind Energy (NIWE), and consortium of partners consisting NTPC, Power Grid Corporation, Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation, Power Trading Corporation and Gujarat Power Corporation.

Power and Coal Minister Piyush Goyal described it as a great opportunity in the development of renewable energy resources in the country.

The Minister also suggested building partnership with Defence, Coast Guard and Shipping to ensure seamless and time bound approval process, the statement said.

The JV company will undertake detailed feasibility study based on the inputs received from pre-feasibility studies and necessary steps for implementation of the first offshore demonstration wind power project.

The first planned demonstration offshore wind power project along the Gujarat coast will be of about 100 MW capacity.

It has been proposed to provide subsidy for setting up of evacuation and transmission infrastructure of the offshore wind power to the main land including financial support for carrying out studies such as wind resource assessment, Environment Impact Assessment (EIA), oceanographic survey and Bathymetric studies.

The Ministry would also assist in obtaining clearances involved during the implementation of the project.

Wind power development onshore has reached a commercial stage in India and is the fastest growing renewable energy option today, the statement added.

India also has around 7,600 km of coastline which offers great potential for off-shore wind power development.

The current installed wind power capacity in the country is 22,000 MW.

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