India invites annual bids for 8 GW wind power

• 1 year, 3 months ago (2023-01-13)
• David Flin

Asia 846 Wind 239

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The Indian Government has set a target to annually auction 8 GW of wind power projects to the end of 2030 to boost renewable energy capacity.

India, one of the world’s biggest emitters of greenhouse gases, wants to boost its renewable energy generation capacity to 500 GW by 2030, from a current capacity of 120 GW, according to government data. The country had not previously set an annual wind power capacity target.

The bidding model has been modified from electronic reverse bidding where the participants could reduce their offer price to win the contracts at the lowest bid. The industry had complained that led to an artificial lowering of prices. Bidders will now not be required to revise their quoted tariff for the sale of power – a key parameter for the award of the contract.

Power generated through the new plants will be sold at an average pooled price to buyers instead of the current project-specific tariffs.