Cryptocurrency Prices by Coinlib
Logo

India will auction 100GW green energy contracts by March 2020

Out of the 100 GW of contracts which the ministry will award, 77GW will be solar power projects

The Ministry of new and renewable energy has announced a clean energy rollout which will require awarding 100 GW of wind and solar contracts by March 2020. Apart from this, the government is also working on a plan which targets the farmers to generate 20GW of solar power. The rollout involves setting up of small solar projects of 1-2 megawatt size on solarizing water pumps and fallow land. Out of the total 100GW to be awarded, 77GW will be the solar power contracts

India has an ambitious target of 175GW of clean energy capacity by the end of March 2022. The government’s strategy is to complete the entire process of bidding by March 2020 in order to provide enough developers the time to construct the projects. Power and new and renewable energy minister, Raj Kumar Singh had announced a plan to conduct a third wind power auction of 2GW and mentioned that there is a long pending demand from across the industry to announce a clean energy road map.

He also mentioned about the expression of interest to be floated for setting up of 20GW of solar manufacturing facility and 5-10 GW of floating solar power projects as well as 10GW of hybrid solar wind power systems. The country has witnessed a record of low solar tariff at Rs2.44 per unit in May which firmed up to Rs.2.65 per kWh in an auction which was conducted by the government of Gujarat in September.

Wind power tariff in India also fell to a record low of Rs.2.64 per unit in an auction which was conducted by the state run Solar Energy Corp of India in October. In order to achieve 100 GW solar power target by 2022, the government will bid for ground mounted solar parks for 20GW in 2017-18 out of which 3.6GW have already been bid out. 3GW will be bid out in December 2017 and 3GW will be bid out in January 2018. Further, 5GW will be bid out in February 2018 and 6GW in March 2018. About 30 GW will be bid out in 2018-19 and 30GW in 2019-20. The Government of India wants to encourage domestic manufacture of the equipment by laying out a road map. There was a target of 60GW for wind power, 32GW has already commissioned out of it. The government along with the state governments intends to issue bids of cumulative capacity of about 8GW this year. Out of the 8GW, 5GW has been bid out and 1500-2000 MW will be bid out in Jan while 1500-2000 MW will bid out in March 2018. Thus, a total of 10GW will be bid out in the financial year 2018 and 10GW in 2019. Further, there was a target of 175GW of clean energy capacity by 2022 and 100GW is yet to come from solar projects. Out of this, 60GW will come from ground mounted, grid connected projects and 40GW will come from solar rooftop projects. The wind power projects will contribute 60GW. However, there will be regulatory challenges for the project. 

  • Share
logoSubscribe now
x