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Govt to add 250 GW of RE capacity in the next five years

Thursday, 06 Apr 2023
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The Central government has outlined a plan to add 250 GW of renewable energy capacity in the next five years to achieve its target of 500 GW of clean energy by 2030. It will invite bids for 50 GW of renewable energy capacity annually till FY28, for this purpose.

These annual bids of inter-state transmission (ISTS) connected renewable energy capacity will also include setting up of wind power capacity of at least 10 GW per annum. The plan was finalized by the Ministry of New & Renewable Energy (MNRE) at a meeting, chaired by Union Minister for Power & NRE R. K. Singh, last week. It is also in accordance with India’s commitment to COP-26 goals.

Given that renewable energy (RE) projects take up 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 (MoP) has declared a quarterly plan of the bids for 2023-24, which comprises 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-December 2023, and January-March 2024, respectively). It will also enable fast implementation by the distribution companies, and, concomitantly, the RE manufacturing industry.

The MoP is working on upgrading and adding the transmission system capacity, for a smooth energy transition. The targeted bid capacity for FY 2023-24 would be allocated among renewable energy implementing agencies (REIAs) in solar, wind, solar-wind hybrid, RTC RE power, and others, all with or without storage as per their assessment or as per directives by the government.

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