Representational photo
| Photo Credit: Reuters

Finance Minister Nirmala Sitharaman announced the Government will provide viability gap funding for 1 GW offshore wind energy on February 1, 2024. The country has a target of 500 GW of renewable energy capacity by 2030.

She said the viability gap funding will also be provided for harnessing offshore wind energy capacity of 1 GW for achieving net-zero emissions by 2070. She added that the Government is ready to assist States in faster development of aspirational districts and blocks.