India, UK Launch Offshore Wind Taskforce to Boost Green Energy & Decarbonization

• India and the UK launched a taskforce on February 18 to develop an offshore wind ecosystem, improve supply chains, and advance financing models.
• The taskforce, agreed under the India-UK Vision 2035 and Fourth Energy Dialogue, will provide strategic leadership for India’s offshore wind sector.
• It will focus on ecosystem planning, market design, infrastructure, supply chains, financing, and risk mitigation.
• India introduced a Viability Gap Funding (VGF) scheme in 2024 with Rs 7,453 crore outlay for 1 GW offshore wind projects and port upgrades.
• UK Deputy PM David Lammy commended India for achieving 50% non-fossil electricity capacity five years ahead of its 2030 target.