Hogan Lovell OffshoreBook 2023 230809 OnlinePDF - Flipbook - Page 130
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India
also indicates that the Indian Government may promote bundling of power
generated offshore with conventional
power subject to availability of unallocated conventional power with a view on
reducing cost of power. 22
1.4 Expectations as to future developments in the market until 2030 and
beyond
While the offshore wind sector is currently
at a nascent stage in India, the potential for
development of offshore wind in India is
substantial. With appropriate policy interventions, particularly those geared towards
correct site identification, mechanisms for
cost reduction, the provision of a single
window clearance for required regulatory
permits and appropriate mitigation for offtaker risks, the long-term target of the Indian
Government of 30 GW by 2030 in offshore
wind can indeed be achieved.
2. PUBLIC LAW AND
REGULATORY PERMITS
2.1. Regulatory Framework
The electricity sector in India in general falls
within the regulatory ambit of the Electricity
Act and the rules and regulations notified
thereunder. While the Ministry of Power,
Government of India ("MOP") is generally
responsible for the development of the
electricity sector in India, 23 matters relating
to new and renewable sources of energy are
guided by the MNRE which is the Indian Government’s nodal ministry dedicated to the
development of renewable energy in India,
including offshore wind. 24 The Government
of India, through MNRE, frames policies and
schemes for promoting electricity generation through renewable energy sources
which include wind, solar, biomass, bagasse
cogeneration and urban and industrial waste, among others.
An overview of other key sector regulators
for electricity in India is set out below:
(a) Central Electricity Authority ("CEA") is an
authority established pursuant to the
Electricity Act. The Electricity Act identifies the role and responsibilities of CEA
as covering policy advice to the Indian
Government with respect to the electricity sector, preparation of plans for
development of the electricity system
and coordination with planning agencies
22 Supra note 8.
23 Ministry of Power, Government of India, ‘Responsibilities’ < https://powermin.gov.in/en/content/responsibilities#:~:text=The%20Ministry%20of%20
Power%20is,energy%20policy%20and%20coordination%20thereof> accessed on 21 April 2023.
24 Ministry of New and Renewable Energy, Government of India, The Ministry’ < https://mnre.gov.in/the-ministry/what-does-the-ministrydo/#:~:text=In%201982%2C%20a%20new%20department,of%20New%20and%20Renewable%20Energy.> accessed on 21 April 2023.
