Bids to include 10 GW annual capacity of wind power
The Government has decided to invite bids for 50 GW of renewable energy capacity annually for the next five years i.e., from Financial Year 2023-24 till Financial Year 2027-28. Ministry for Power & NRE said on 5 Apr 2023.
These annual bids of ISTS (Inter-State Transmission) connected renewable energy capacity including the setting up of wind power capacity of at least 10 GW per annum.
The plan, finalized by Ministry of New & Renewable Energy (MNRE) at a meeting, is in accordance with Prime Minister’s announcement at COP26 of achieving 500 GW of installed electricity capacity from non-fossil fuel (Renewable Energy + Nuclear) sources by 2030.
The meeting was chaired by Minister of Power and NRE R K Singh last week.
India currently has a total renewable energy capacity of 168.96 GW (as on 28 Feb 2023) with about 82 GW at various stages of implementation and about 41 GW under tendering stage. This includes 64.38 GW Solar Power, 51.79 GW Hydro Power, 42.02 GW Wind Power and 10.77 GW Bio Power.
Considering the fact that Renewable Energy (RE) projects take around 18-24 months for commissioning, the bid plan will add 250 GW of renewable energy and ensure 500 GW of installed capacity by 2030.
The Ministry of Power is already working on upgrading and adding the transmission system capacity for evacuating 500 GW of electricity from non-fossil fuel.
Speaking during the meeting, Singh said that the declaration of trajectory of short-term and long-term RE capacity addition by the Government is a significant step towards achieving the goal of 500 GW of non-fossil fuel capacity by 2030 and towards a faster energy transition.
The Minister continued, “India has emerged as one of the world leaders in Energy Transition and this is evident in the growth that we have achieved in the area of Renewable Energy. We are committed to achieve 500 GW of target by 2030 and the bidding trajectory will provide a further stimulus towards this.
“The structured bidding trajectory will provide sufficient time to the RE developers to plan their finances, develop their business plans and manage the supply chain more efficiently. This is a golden opportunity to invest in this sector,” Singh said.
MNRE Secretary B. S. Bhalla said that the bidding trajectory will also enable the power procurers, including the distribution companies, to manage their RE procurement plans effectively.
“The bid trajectory will also provide a fillip to the RE manufacturing industry in the country by indicating the demand that would be created for their equipment,” he said.
In addition to this, the Ministry has declared a quarterly plan of the bids for FY 2023-24, which comprises of bids for at least 15 GW of renewable energy capacity in each of the first and second quarters of the financial year (April-June 2023 and July-September 2023, respectively), and at least 10 GW in each of the third and fourth quarters of the financial year (Oct-Dec 2023 and Jan-Mar 2024, respectively).
This capacity addition is over and above the RE capacities that would come up under schemes like Rooftop solar and PM-KUSUM of the Ministry, under which bids issued directly by various States as well as capacities that may come up under Open Access Rules.
Presently, Solar Energy Corporation of India Ltd (SECI), NTPC Ltd and NHPC Ltd are notified by the Government as Renewable Energy Implementing Agencies (REIAs) for calling such bids.
It has been decided to also notify SJVN Ltd, a public sector enterprise under Government, as a REIA.
The targeted bid capacity for FY 2023-24 would be allocated among the four REIAs. The REIAs would be permitted to bring out the bids for solar, wind, solar-wind hybrid, RTC RE power, etc – all with/without storage, as per their assessment of the RE market or as per directions of the Government, the Ministry said. fiinews.com
