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Government Unveils Plans To Add 250GW Renewable Energy Capacity In Next Five Years

India currently has a total renewable energy capacity of 168.96 GW (as of 28th February 2023) with about 82 GW at various stages of implementation and about 41 GW under tendering stage.

Government Unveils Plans To Add 250GW Renewable Energy Capacity In Next Five Years
Considering the fact that Renewable Energy (RE) projects take around 18-24 months for commissioning, the bid plan will add 250 GW of renewable energy and ensure 500 GW of installed capacity by 2030.

New Delhi: The government on Wednesday (April 5) announced a plan to add 250 GW of renewable energy capacity in the next five years to achieve its target of 500 GW of clean energy by 2030. The government has decided to invite bids for 50 GW of renewable energy capacity annually for the next five years i.e., from Financial Year 2023-24 till Financial Year 2027-28, a Ministry of New and Renewable Energy statement said.

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, it stated. The plan finalised by the Ministry of New & Renewable Energy (MNRE) at a meeting chaired by Union Minister for Power & New and Renewable Energy R K Singh last week, is in accordance with the Prime Minister’s announcement at COP26, of achieving 500 GW of installed electricity capacity from non-fossil fuel (Renewable Energy + Nuclear) sources by 2030.

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India currently has a total renewable energy capacity of 168.96 GW (as of 28th February 2023) 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 BioPower.

Considering the fact that Renewable Energy (RE) projects take around 18-24 months for commissioning, the bid plan will add 250 GW of renewable energy and ensure 500 GW of installed capacity by 2030. The Ministry of Power is already working on upgrading and adding the transmission system capacity for evacuating 500 GW of electricity from non-fossil fuel, it stated.

Speaking during the meeting, Singh had said that the declaration of 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 and towards a faster energy transition.

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. We are committed to achieving 500 GW of Target by 2030 and the bidding trajectory will provide further stimulus towards this. The structured bidding trajectory will provide sufficient time to the RE developers to plan their finances, develop their business plans and manage the supply chain more efficiently. This is a golden opportunity for the industry to invest in this sector.

New & Renewable Energy Secretary B S Bhalla said in the statement that the bidding trajectory will also enable the power procurers, including the distribution companies, to manage their RE procurement plans effectively.

The bid trajectory will also provide a fillip to the RE manufacturing industry in the country by indicating the demand that would be created for their equipment.

In addition to this, the ministry has declared a quarterly plan of the bids for FY 2023-24, which comprises bids for at least 15 GW of renewable energy capacity in each of the first and second quarters of the financial year (April-June 2023 and July-September 2023 respectively), and at least 10 GW in each of the third and fourth quarters of the financial year (Oct-December 2023 and January-March 2024 respectively).

This capacity addition is over and above the RE capacities that would come up under schemes like Rooftop solar and PM-KUSUM of the Ministry, under which, bids issued directly by various States & also capacities that may come up under Open Access Rules.

Presently, Solar Energy Corporation of India Ltd. (SECI), NTPC Ltd. and NHPC Ltd., are notified by the Government as Renewable Energy Implementing Agencies (REIAs) for calling such bids. It has been decided to also notify SJVN Ltd, a public sector enterprise under the Government of India, as a REIA.

The targeted bid capacity for FY 2023-24 would be allocated among the four REIAs. The REIAs would be permitted to bring out the bids for solar, wind, solar-wind hybrid, RTC RE power, etc. – all with/without storage, as per their assessment of the RE market or as per directions of the Government.

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(This story has not been edited by NDTV staff and is published from a syndicated feed.)

NDTV – Dettol have been working towards a clean and healthy India since 2014 via the Banega Swachh India initiative, which is helmed by Campaign Ambassador Amitabh Bachchan. The campaign aims to highlight the inter-dependency of humans and the environment, and of humans on one another with the focus on One Health, One Planet, One Future – Leaving No One Behind. It stresses on the need to take care of, and consider, everyone’s health in India – especially vulnerable communities – the LGBTQ populationindigenous people, India’s different tribes, ethnic and linguistic minorities, people with disabilities, migrants, geographically remote populations, gender and sexual minorities. In wake of the current COVID-19 pandemic, the need for WASH (WaterSanitation and Hygiene) is reaffirmed as handwashing is one of the ways to prevent Coronavirus infection and other diseases. The campaign will continue to raise awareness on the same along with focussing on the importance of nutrition and healthcare for women and children, fight malnutrition, mental wellbeing, self care, science and health, adolescent health & gender awareness. Along with the health of people, the campaign has realised the need to also take care of the health of the eco-system. Our environment is fragile due to human activity, which is not only over-exploiting available resources, but also generating immense pollution as a result of using and extracting those resources. The imbalance has also led to immense biodiversity loss that has caused one of the biggest threats to human survival – climate change. It has now been described as a “code red for humanity.” The campaign will continue to cover issues like air pollutionwaste managementplastic banmanual scavenging and sanitation workers and menstrual hygiene. Banega Swasth India will also be taking forward the dream of Swasth Bharat, the campaign feels that only a Swachh or clean India where toilets are used and open defecation free (ODF) status achieved as part of the Swachh Bharat Abhiyan launched by Prime Minister Narendra Modi in 2014, can eradicate diseases like diahorrea and the country can become a Swasth or healthy India.

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