Offshore wind in India is at a relatively early stage of cost development compared to other renewables energies and fossil fuel technologies. In-depth cost estimations in the form of Levelized Cost of Energy (LCoE) estimations for specific sites in India shows that technological progress and economy of scale are expected to continue to decrease costs, thus following a similar path as seen elsewhere in Europe, US and Taiwan.
Minimising costs of offshore wind in India is pivotal to the building up a pipeline of projects. This can be done through streamlining tender procedures, de-risking investments and maximising quality of the tender documents.