This paper provides a useful and simple methodology supported by the available literature to estimate meteorological and oceanographical loads combination i.e., metocean data of Bay of Bengal. A reliability-based approach to determine the joint occurrence of wave parameters conditioned in average wind speed is proposed. Based on hindcast data, the statistical description of the metocean is formulated. Furthermore, a parametric study is carried out after performing coupled dynamic analysis of this novel hybrid semisubmersible platform combined with wave energy convertor which was proven to be more suitable to operate in the recognised United States’ coast from its base platforms. The significant observation from this study is that the Bay of Bengal has a substantial potential to extract energy from the available wind as this metocean condition supports to generate a wide range of wind power from the tested platform unlike from the energy pattern generated from the same platform installed in the coasts of United States. Additionally, it is also observed that the motion of the flap type wave energy convertor with flexible arm can generate relatively more wave energy in survival state than the operational state of the system. Finally, it can be concluded that a new location of resourceful wind and wave in Indian subcontinent to generate renewable power from a hybrid platform can be identified from this study by adopting a simplified methodology.