Beyond Fixed Deposits: Decommissioning Security, Corporate Insolvency and Seabed Restoration under India's Offshore Wind Energy Lease Rules, 2023
Year: 2026
Type: article
Abstract: India's transition towards offshore wind energy required a regulatory framework that addresses not only electricity generation but also the environmental and financial liabilities arising when projects reach the end of their operational lives. The Offshore Wind Energy Lease Rules, 2023 established a framework for offshore leasing, security deposits and decommissioning. In September 2024, the Ministry of New and Renewable Energy (MNRE) circulated proposed amendments intended to clarify the leasing framework, expand the scope of covered projects and streamline administrative requirements. This however was not formally notified in the Official Gazette. This article examines Rules 9, 16 and 17 alongside a comparative study on offshore decommissioning. It argues that the regulatory framework should provide for periodic reassessment of financial security, proportionate supplementary guarantees when material financial risks arise and verify seabed restoration before security is released.
Author: Mohammed Junaid Ullah Khan
Institution: Osmania University
Language: English
Topic: Energy Law and Policy
Subfield: Law
Field: Social Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7225400197