MNRE issues draft lease rules for the offshore wind energy segment

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 the potential of offshore wind can be undertaken without a lease. Also, MNRE will grant lease for all offshore wind projects in the Indian exclusive economic zones. The area covered by a lease will be specified and the terms of the 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 the lease, applicants must deposit Rs 100,000 per MW for installations and Rs 1,000 per square kilometre (square km) in case of prospecting. Moreover, the applicants must pay yearly lease fee, a sum calculated for each square km covered by the lease at the rate of Rs 10,000 every year.

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