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Government receives bids for 21GW of Renewable Energy Capacity

Nov 1, 2023

By: BlinkX Research Team

The Indian government has received bids for the addition of 21 GW of renewable energy (RE) capacity in the current fiscal year, marking a significant stride towards achieving its target of adding 50 GW of RE capacity by year-end. Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, confirmed this progress. He stated that the government is on track to secure bids for the remaining 30 GW in the latter half of the fiscal year.

Earlier, the government announced plans to invite bids for 50 GW of renewable energy capacity annually from FY24 to FY28, with the aim of tripling the country's RE capacity to 500 GW by 2030. This initiative includes an annual target of setting up at least 10 GW of wind power capacity.

Despite supply-chain challenges causing delays, India added 6.6 GW of RE capacity in the first half of the current financial year. Power Minister R. K. Singh highlighted that India's RE capacity has seen a remarkable 35-fold increase over the past seven to eight years.

The government aims to achieve at least 25 GW of RE capacity in the current fiscal year, following the addition of around 15 GW in the last fiscal. The long-term goal is to increase the share of RE in the energy mix to 40% by 2030.