The Ministry of New & Renewable Energy (MNRE) has issued an agency-wise bidding calendar for 50 GW of renewable energy projects for the current financial year (FY 2023-24).

The calendar entails a schedule of 30 GW of renewable capacity for the first two quarters and 20 GW in the last two quarters.

SECI and NTPC will issue tenders for 12.5 GW of Solar/Hybrid/Round-the-Clock (RTC) projects and 2.5 MW of wind projects each.

NHPC and SJVN will issue tenders for 7.5 GW of Solar/Hybrid/RTC projects and 2.5 MW of wind projects each.

The bids will be floated according to standard bidding guidelines issued by the government and MNRE’s instructions for renewable energy tenders.

MNRE had stated that it will issue renewable project bids worth 50 GW annually during FY 2024-28, which includes at least 10 GW of wind tenders.

Renewable project developers have regularly petitioned the government for a predictable bidding trajectory to mitigate project risks, enable more efficient financial planning and supply chain management, and provide better visibility and certainty for upcoming tenders.

They have argued that current haphazard tendering processes by central and state governments make it challenging for them to plan finances and secure component supplies at competitive prices.

India has set ambitious goals for renewable energy to combat climate change and reduce reliance on fossil fuels.

The government has committed to achieving 50% of its installed power capacity from non-fossil fuel-based energy resources by 2030 and reducing the emissions intensity of its GDP by 45% compared to 2005 levels.

Further, MNRE has been working to achieve 500 GW of installed electricity capacity from non-fossil sources by 2030, which includes 280 GW of solar.

As of February 2023, India’s renewable energy installed capacity stands at nearly 169 GW, with 82.6 GW under implementation and 40.89 GW under the tendering process.

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