The Ministry of New and Renewable Energy (MNRE) has designated SJVN Limited as the implementing agency responsible for floating tenders for renewable energy projects. It will also act as the intermediary procurer of power.

SJVN will work with other agencies, such as SECI, NTPC, and NHPC, to float tenders and open bids to avoid concurrent bids.

SJVN will also ensure that tenders will be floated according to standard bidding guidelines issued by the government and MNRE’s instructions for renewable energy tenders.

The ministry 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.

According to the calendar, 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 bidding calendar has fulfilled developers’ long-standing demand to formulate a predictable bidding trajectory, which they have argued would help them prepare better for competitive bids.

They said it would also help iron out grid connectivity issues and provide more visibility and certainty for upcoming tenders, besides attracting more international capital.

Mercom had earlier written about stakeholders emphasizing the need for a clear tender trajectory to mitigate project risks for developers and enable more efficient financial planning and supply chain management.

India has set an ambitious goal of 500 GW of clean energy capacity, including 280 GW of solar, as it reduces its 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 emissions by 45% compared to 2005 levels.

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.

Subscribe to Mercom’s real-time Regulatory Updates to ensure you don’t miss any critical updates from the renewable industry.