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Union Cabinet allows 100 per cent FDI under automatic route for white label ATMs


Union Cabinet cleared National Offshore Wind Energy Policy to generate electricity from offshore windmills located in areas within Exclusive Economic Zone (EEZ) of the country. Under this policy, Offshore wind power projects and R&D activities will be carried in waters up to the seaward distance of 200 Nautical Miles (EEZ of the country) from the base line. Union Ministry of New & Renewable Energy (MNRE) will be nodal Ministry. National Institute of Wind Energy (NIWE) will be nodal agency for allocation of offshore Wind Energy blocks. NIWE has been authorized to carry out allocation of offshore wind energy blocks. It will also frame guidelines for coordination and allied functions with related ministries and agencies. Implications Pave the way for offshore wind power projects along the 7600 km long Indian coastline to replicate the success of the onshore wind power projects in the offshore wind projects. It would also help India to attain energy security and achieve National Action Plan on Climate Change (NAPCC) targets.