Cabinet givs nod to VGF scheme for offshore wind energy with Rs 7,453 crore outlay

The Union Cabinet approved a viability gap funding (VGF) scheme for offshore wind energy projects with a total allocation of Rs 7,453 crore. This includes Rs 6,853 crore for installing and commissioning 1 GW of offshore wind projects, split into 500 MW each off Gujarat and Tamil Nadu coasts. Additionally, Rs 600 crore is earmarked for upgrading two ports to support logistics for these projects.