India plans 250GW tenders
1 min read . Updated: 04 Apr 2023, 12:07 AM IST
PremiumThe Indian government plans to issue 50GW of renewable energy capacity tenders annually until FY28, with projects worth 250GW planned from FY24 to FY28.
New Delhi: The union government will issue 50GW of renewable energy capacity tenders annually until FY28.
From FY24 to FY28, India plans to bid out projects worth 250GW of renewable energy capacity till FY28.
In the current fiscal, government renewable energy implementing agencies would bid out at least 15 GW of renewable energy capacity in the first (April-June) and second quarter (July-September), each during the quarters ending December and March of FY24.
An office memorandum released by the union ministry of new and renewable energy said that the bids may consist of “vanilla solar, vanilla wind, solar-wind hybrid, round-the-clock (RTC) renewable energy power, etc. with or without storage, or any other combination, based on the assessment of renewable energy market or as per the directions of government".
As of 28 February, India’s renewable energy installed capacity stood at 168.96GW, with 82.62GW under implementation and 40.89GW under the tendering process.
The move comes in the backdrop of the Centre’s commitment to achieving about 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 and a reduction of the emissions intensity of our GDP by 45% as against 2005 levels by 2030.By 2070, India aims to achieve net zero carbon emissions.Along these lines, the government is also working to develop ecosystems for green hydrogen and carbon capture. Earlier this year, the union cabinet approved the National Green Hydrogen Mission with a target to produce 5 million tonnes of green hydrogen by 2030.