Considering the target of achieving 500 GW of installed capacity from non-fossil sources by 2030, and the time required for commissioning of renewable energy projects, MNRE has released the following trajectory for renewable power bids to be issued by Renewable Energy Implementing Agencies (REIAs):
1.Bids for renewable energy capacity of 50 GW per annum, with at least 10 GW per annum of wind energy capacity are to be issued each year from financial year 2023 to 24 to financial 2027-28.
2. For financial year 2023 to 24, the bids for renewable energy capacity of 50 GW are to be issued as per the following timeline:
a)Quarter 1 of 2023-24: At least 15 GW of renewable energy capacity;
b)Quarter 2 of 2023-24: At least 15 GW of renewable energy capacity;
c)Quarter 3 of 2023-24: At least 10 GW of renewable energy capacity;
d) Quarter 4 of 2023-24: At least 10 GW of renewable energy capacity
The bids for aforesaid trajectory may consist of solar, wind, solar-wind hybrid, round-the-clock (RTC) renewable energy power, etc with or without storage, or any other combination, based on the assessment of the renewable energy market or as per the directions of the government. The year-wise targeted bid capacity will be allocated among the REIAs by the Government.
3. Bids are to be floated in accordance with relevant Standard Bidding Guidelines issued by the government and abiding with ME’s advice in relation with tenders for RE projects.
4.To avoid concurrent bids, REIAs may issue bids in coordination with other REIAs.