Recently MNRE<\/strong> singed an MOU with a number of state owned PSUs such as NTPC, PowerGrid<\/em> etc. to set up a 100 MW<\/strong> offshore wind farm. Though costs are high, India needs to enter this renewable energy segment as it risks falling behind in this new technology. IT will help in the development of an ecosystem and expertise in India. Otherwise the country risks falling behind like it did in solar energy. Despite installing more than 1 GW of solar energy, the country barely manufactures 100 MW of solar cells domestically. Manufacturers such as Bharat Forge, Suzlon<\/strong> etc. should be encouraged to participate in offshore wind energy, so that they can build the requisite experience and expertise.<\/p>\n![\"\"](\"http:\/\/www.greenworldinvestor.com\/wp-content\/uploads\/2014\/10\/offshore-wind.jpg\" "\\"offshore")
<\/a>Subsidies will be provided for setting up the transmission infrastructure as well as doing various studies such as EIA, feasibility etc. Note offshore wind energy is established in Europe with Germany, UK and Denmark building a large number of offshore wind farms. Though the cost of offshore wind farms is higher than onshore ones, the advantage is that offshore wind<\/a> farms generate larger amounts of electricity per unit of capacity and don\u2019t eat up land like onshore ones. The costs are also falling with increasing scale and learning from building of more and more farms. China<\/strong> has also started to aggressively expand its offshore wind energy potential.<\/p>\n