MNRE issues draft lease rules for the offshore wind energy segment

The MNRE has issued draft offshore wind energy lease rules which are aimed at increasing activity in the offshore wind segment. According to the draft lease rules, no project development activity or site survey for calculating potential of offshore wind can be undertaken without a lease. Also, the MNRE will grant lease for all offshore wind projects in Indian exclusive economic zones. The area covered by a lease will be specified and the terms of a lease will be initially valid for a period of five years for prospecting and 30 years for the establishment of offshore wind power projects. For getting lease, applicants must deposit Rs 0.1 million per MW for installations and Rs 1,000 per square kilometer in case of prospecting. Moreover, the applicants must pay yearly lease fee, a sum calculated for each square kilometer covered by the lease at the rate of Rs 10,000 every year.

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