US states including New York, New Jersey and Massachusetts see proposed offshore wind farms in the Atlantic Ocean as crucial ingredients to phase out fossil fuels and fight climate change
The state was followed by Gujarat with 239.25 Mw, Andhra Pradesh (107.40 Mw), and Telangana (27.30 Mw)
As per estimates, China and India will ride offshore wind power wave. South Korea (18 Gw), Japan (10 Gw), Taiwan (5.5 Gw) will be other major contributors
Offshore wind power has a lot of promise
State government officials claim they have an agreement on around 150 PPAs for waiver on the monthly bill and late payment surcharge
The auction started on Thursday with bids spiralling down to Rs 3.66 per unit
According to industry estimates, the tariff to be around Rs 4.5-4.8 per unit
The project is scheduled to be commissioned by March next year
Power producers are facing problems over payments and demand
Sector adds record 3,472 Mw installation in FY16; 4,500 Mw set to be added in FY17
However, upward tariff revision in TN is a positive for new wind energy projects, says the ratings agency
The upper limit of accelerated depreciation has been cut from 80 per cent to 40 per cent with effect from April 1, 2017