India’s Power Minister RK Singh said the Modi government has decided to accept bids for 50 gigawatts (GW) of renewable energy every year from this year (fiscal 2023/24) till the 2027/28 fiscal year, according to a report by PV Magazine, which said the annual bids for renewable energy capacity for interstate transmission would include at least 10GW of wind projects each year.
The Ministry of New and Renewable Energy finalized the plan so that developers of renewable energy have sufficient time to develop business plans, arrange financing and to manage the supply chain efficiently, as India’s overall target is 500 GW of installed power from renewable and nuclear sources by 2030, the report said, adding that the country has so far installed close to 170 GW of renewable energy and a further 82 GW is in implementation stages, while 41 GW is in the tendering stage. Solar Energy Corp of India, NTPC, NHPC and SJVN were named as four renewable energy implementing agencies (REIAs) that can accept bids.
Read the full report: PV Magazine.
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