Interim Budget 2024 | Viability gap funding to be provided for 1 GW offshore wind energy: FM Sitharaman

FM Nirmala Sitharaman said the viability gap funding help the country become net-zero emissions by 2070

February 01, 2024 01:29 pm | Updated 01:29 pm IST - New Delhi

Representational photo

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.

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