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Business News/ News / India/  India’s G20 presidency offers opportunity for offshore wind collaboration: MNRE secretary
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India’s G20 presidency offers opportunity for offshore wind collaboration: MNRE secretary

Bhalla highlighted the crucial role of offshore wind in combatting air pollution and mitigating climate change, stating that the sector not only contributes to environmental sustainability but also holds significant potential for job creation and economic growth

As India’s G20 presidency unfolds, the offshore wind sector gains prominence as a key driver for economic growth and clean energy transition, with stakeholders actively working together to realize their ambitious goals. (Getty Images/iStockphoto)Premium
As India’s G20 presidency unfolds, the offshore wind sector gains prominence as a key driver for economic growth and clean energy transition, with stakeholders actively working together to realize their ambitious goals. (Getty Images/iStockphoto)

New Delhi: India’s G20 presidency presents a valuable opportunity for offshore wind countries, businesses, and financial institutions to work together in achieving their clean energy transition ambitions, said Bhupinder Singh Bhalla, secretary, union ministry of new and renewable energy (MNRE).

Addressing an event, Bhalla highlighted the crucial role of offshore wind in combatting air pollution and mitigating climate change, stating that the sector not only contributes to environmental sustainability but also holds significant potential for job creation and economic growth. Urging collaboration among offshore wind stakeholders, Bhalla identified key priorities such as permits and clearances, supply chain resilience, low-cost financing, capacity building, and market attractiveness.

With India assuming the G20 Presidency, Bhalla emphasized the unique opportunity it presents for leveraging collective strengths and supporting the development of offshore wind projects both nationally and globally. This initiative aims to drive substantial progress in the clean energy sector.

Alok Kumar, secretary, Ministry of Power, underlined the increasing significance of offshore wind in India’s power mix. He emphasized that India’s offshore potential is comparable to the hydro and nuclear capacities it may add in the future. Kumar highlighted the long-term vision beyond 2030 and the potential for developing a robust value chain, thereby attracting enthusiastic participation from the industry.

As India’s G20 presidency unfolds, the offshore wind sector gains prominence as a key driver for economic growth and clean energy transition, with stakeholders actively working together to realize their ambitious goals.

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Published: 17 May 2023, 02:43 PM IST
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