NTPC, ONGC plan mega offshore wind project investments

State-run NTPC will jointly develop offshore wind power plants with the Oil and Natural Gas Corporation (ONGC), and the potential capacity of these projects can run up to “tens of thousands of mega-watts (MW)”, a senior official of the power generator said. The investment required for 1 MW of wind power is around Rs 5 crore.

Offshore wind power projects are capital-intensive compared to conventional wind plants as developers have to install large wind power turbines in open seas and build transmission infrastructure to on-shore substations. Union power minister RK Singh recently said the ministry of new and renewable energy is considering offering viability gap funding options for offshore wind energy projects.