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The purpose of this study is to identify Offshore Wind Energy (OWE) as a key technology that could drive countries toward achieving climate goals. However, there are multiple challenges that this sector faces.

This study aims to identify the challenges faced by the sector globally by systematically reviewing the existing literature in global context and portraying it in the Indian context. Factors are identified using content analysis.

Results suggest high levelized cost of energy as the most discussed challenge for the growth of OWE. Insufficient financial support and policy, initial capital and inadequate technology formed the second, third and fourth most discussed challenges respectively.

To reduce the cost of OWE, the distribution companies in India could adopt feed-in tariffs (FiTs) in the early stages of development and make OWE procurement mandatory. The renewable purchase obligation (RPO) in India is specific to solar and non-solar; policy should accommodate offshore wind-specific RPO targets for each state to reach the 2030 target of 30 GW from OWE.

To the best of the authors’ knowledge, this is the first attempt to study the challenges of OWE development from a global perspective and portray these major challenges in the Indian context and uses content analysis from the existing literature to ascertain the major roadblocks for the development of OWE.

The study identifies the unexplored gap in literature that includes futuristic challenges for OWE from climate change. Future studies can explore the possibilities of forecasting based on climate change scenarios and rank the challenges based on their relevance caused by possible damages.

Biodiversity loss has become widespread since current rates are potentially catastrophic for species and habitat integrity, and the Dachigam National Park in Jammu and Kashmir (India) is not a distinctive case. Therefore, the main objective of this study is to elicit the willingness to pay (WTP) for biodiversity conservation of the Park.

A survey-based choice experiment method was carried out at the Dachigam National Park, an area that is threatened by several anthropogenic pressures. Attributes selected for analysis through choice experiments were endangered species, national park area, research and education opportunities the park withholds. To estimate WTP, a monetary variable involving an increase in entry fee was also incorporated. To obtain the estimates, the authors use the augmented conditional logit model.

WTP for the selected attributes per visitor turned out to be ₹302.07 for enhancing the population of endangered species, ₹121.91 for improvement in the park area and ₹171.64 for increasing research and education opportunities the park withholds.

Though the study uncovers very important aspects of evaluating the biological resources, albeit with some limitations. The study estimates WTP for biodiversity conservation using a conditional logit model, which is based on a specific area and population sample. It would be better if a broader sample is considered to trace out the findings for meaningful generalization. Besides, the results can be replicated for similar kinds of samples.

With the use of benefits transfer method, this study aims to provide policymakers with useful information to manage biodiversity attributes across the Himalayan region.

The main contribution of this study is to provide a critical understanding of the valuation to facilitate the concerned body for better planning and management of biological resources. The findings of the present study can be used as an indicator of the inherent economic importance of biological resources across the Himalayan range for their better management and conservation that can help in ensuring sustainable utilization of these resources.