India will issue tenders for installation of 50 gigawatts (GW) of renewable energy per annum till FY28, totaling up to 250 GW, the ministry of new and renewable energy said. The bids for 50 GW/per annum capacity of renewable energy would be issued each year from FY24 to FY28.

The eligibility criteria for wind energy capacity bids would be at least 10 GW per annum.

The timeline for the bids for the renewable energy capacity for this fiscal has been set — 15 GW capacity each for the first two quarters and 10 GW each for the next two quarters.

The bids may comprise vanilla solar, vanilla wind, solar-wind hybrid, round-the-clock renewable energy power.

The bids would be for the renewable energy power with or without storage based on market assessment of renewable energy. The year-wise targeted bid capacity would be allocated among the renewable energy implementing agencies (REIAS) by the Centre.

The bids would be floated in accordance with the Centre's standard bidding guidelines as well as the ministry's advice on tenders for the projects.

To avoid concurrent bids, REIAS may issue bids in coordination with other agencies.

On another note, the second Energy Transition Working Group meeting commenced in Gandhinagar on Sunday and will go on till Tuesday, under India's G20 Presidency.

And on the sidelines of the same, the ministry of new and renewable energy as well as the ministry of mines and ministry of power are hosting the 'Diversifying renewables and critical minerals supply chains to advance energy transition' on Monday.

The event is supposed by the Council on Energy, Environment and Water (CEEW) and the Asian Development Bank.

First Published:Apr 3, 2023 10:44 AM IST