In a move towards the launch of the first offshore wind development leases in Indian waters, the Government of India has released a notification on 19 December 2023 with details of leasing regulation. The notification covers the entire EEZ including sites under all models in the strategy paper. The lease terms include a three year period for resource measurements, studies, and surveys with an option for extension by two years, followed by a 35 year period for construction and operation of the site. Operation may be extended beyond the 35 years in accordance with functional viability and safety. The site must be decommissioned within two years after the termination of the lease.
The notification further outlines the operating conditions as well as leasing fees. Applicants must submit a security deposit of 100,000 INR per megawatt for an offshore wind farm development lease and 50,000 INR per megawatt for an offshore wind transmission project, this will be refunded after site decommissioning. The yearly lease fee will be 100,000 INR per square kilometre of the lease area.
The publication of the leasing rules brings India one step closer to realisation of its offshore wind ambitions.