India to issue 50GW of renewable energy tenders annually: MNRE
This is in pursuit of its 2030 target.
India will need to issue renewable energy tenders of 50 gigawatts (GW) annually between 2023 and 2028 to achieve its 2030 target, the Ministry of New and Renewable Energy (MNRE) said.
The MNRE provided that 15GW tenders will need to be issued for the first two quarters and 10GW in the last two quarters. This should include at least 10GW of wind energy.
“In the next seven years, out of this 50 GW annual tender issuance, if 30-35 GW of new RE capacity is added every year, then India can easily achieve its 2030 target of 500 GW of Non-fossil fuel capacity,” JMK Research & Analytics noted.
JKM Research noted that as of end-February, India’s installed renewables capacity is around 168.96GW with 82.62GW under implementation and 40.89GW under tendering process.