The Government has decided to invite bids for 50 GW of renewable energy capacity annually for the next five years. These annual bids of ISTS (Inter-State Transmission) connected renewable energy capacity will also include setting up of wind power capacity of at least 10 GW per annum.
The plan was finalised by the Ministry of New & Renewable Energy (MNRE) at a meeting chaired by Union Minister for Power R. K. Singh last week. The bid was invited in accordance with the Prime Minister’s announcement at COP26, of achieving 500 GW of installed electricity capacity from non-fossil fuel sources by 2030.
Speaking during the meeting, R. K. Singh, said that the declaration of the trajectory of short-term and long-term RE capacity addition by the Government is a significant step towards achieving the goal of 500 GW of non-fossil fuel capacity by 2030. He said that India has emerged as one of the world leaders in Energy Transition and this is evident in the growth that we have achieved in the area of Renewable Energy.
Mr Singh added that the government is committed to achieve 500 GW of Target by 2030 and the bidding trajectory will provide a further stimulus towards this. India currently has a total renewable energy capacity of 168.96 GW with about 82 GW at various stages of implementation and about 41 GW under tendering stage. This includes 64.38 GW of Solar Power, 51.79 GW of Hydro Power, 42.02 GW of Wind Power and 10.77 GW of Bio Power.
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