The Indian government plans to issue tenders for 50 GW of renewable energy capacity per year in the following five financial years, from 2023/24, which starts on April 1, till 2027/28.
The timetable was outlined by the Ministry of New and Renewable Energy (MNRE) in a document published on Saturday and entitled Bidding Trajectory for Renewable Energy Power Projects.
The auctions will include at least 10 GW per year of wind power capacity.
The plans are designed to ensure that India meets its target of 500 GW of installed capacity from no-fossil fuel sources by 2030. The ministry said that the country currently has about 169 GW of installed renewable energy capacity and a further about 83 GW under implementation and 41 GW under tendering process.
For the 2023/24 financial year the following schedule is envisioned: at least 15 GW of renewable energy tenders in each of the first two quarters and at least 10 GW per quarter in the second half of the year.
The tenders may include, solar, wind, solar-wind hybrid or around-the-clock renewables with or without storage.
The annual targets for auctions will be allocated by the government to the renewable energy implementing agencies that will conduct tenders.
Source: renewablesnow
