Under the MoU, the joint venture will carry out a feasibility study based on findings from previous investigations into the offshore potential of India.
The study will be used in the possible development of a 100MW demonstration project off the coast off Gujarat, on the country's northwest coast.
Also included in the MoU is the National Institute of Wind Energy, the National Thermal Power Corporation, the Power Grid Corporation of India, the Indian Renewable Energy Development Agency, the Power Finance Corporation and the Power Trading Corporation.
India has long discussed the possibility of installing turbines offshore. In August 2013, the energy ministry set up the National Offshore Wind Energy Authority (NOWA) which was to be responsible for the country's offshore projects.
India released its draft offshore policy in May 2013, formulated by the Offshore Wind Energy Steering Committee, which is responsible for providing guidance and support to NOWA.
The draft policy suggested incentives such as ten-year tax holidays and duty concessions for procurement and services on offshore wind projects.
Demonstration projects, invited by the Indian government in the future, will be exempt from paying a lease fee for a specified period, the draft policy also suggested.