New Delhi:The Ministry of New and Renewable Energy (MNRE) plans to issue bids for renewable energy (RE) capacity of 50 gigawatt (GW) per annum with at least 10 GW per annum of wind energy capacity each year from financial year 2023-24 (FY24) to FY28.
According to the official press release, as on 28 February, 2023, India’s RE installed capacity stood at 169 GW with 82 GW under implementation and 41 GW under tendering process.
The release added that the bids would consist of vanilla solar, vanilla wind, solar-wind hybrid, round-the-clock renewable energy, with or without storage or any other combination based on the assessment of the renewable energy market.
It said that the bids will be issued by renewable energy implementing agencies and the year-wise targeted bid capacity would be allocated among them by the government.
India has committed to achieve about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030, and a reduction of the emission intensity of our GDP by 45 per cent as against 2005 levels by 2030.