India will soon issue competitive bids for 22.5 GW of solar power capacity

Bids to increase solar and wind energy installations will continue to grow as India has committed to the world to increase its dependence on renewable energy, a top executive with a renewable energy company

New Delhi (Natural Energy News): Indian authorities will invite competitive bids for new tenders of 22.5 GW for solar power projects by the end of December while commissioning by successful bidders is about 43 GW of capacity at various stages.

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A top executive of a renewable energy company said that bids to increase solar and wind power installations will continue to grow as India has committed to the world to increase its dependence on renewable energy.

Speaking at the G20 summit on Saturday, Prime Minister Narendra Modi said, "We will meet our target of 175 GW renewable energy well before the target of 2022. Now, we will achieve a big by trying to achieve 450 Taking the step forward. " GW by 2030. "

The Modi government is confident of achieving these goals of the world's largest renewable energy program in history.

Currently, India's solar power capacity is around 35 GW and the government plans to increase it to 100 GW in the next few years to meet its ambitious targets under the National Solar Mission. In addition, India has a 9.5 GW capacity of wind power under execution and new bids are expected in the near future.

Of the 370 GW of the country's total power generation capacity, renewable power is close to 24 percent which is expected to increase year-on-year.

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Solar Energy Corporation of India (SECI) is the nodal agency to facilitate the implementation of the mission and the management of 16.2 GW of tenders. SECI has invited 7.5 GW of tenders for commissioning of solar projects in Jammu and Kashmir, 2.5 GW in Karnataka and 6.2 GW anywhere in India.

SECI will sign power purchase agreements (PPAs) with the lowest bidders after signing agreements with state-owned distribution companies (discoms) to supply renewable electricity. Since early 2019, SECI has introduced a mechanism for signing PPAs with successful developers after establishing a relationship with DISCOM. Such plans enable SECI to strike a balance between the interests of renewable energy project developers and DISCOMs, while assuring adequate production capacity for it in the future.

Apart from SECI, public sector utilities and Indian Railways are also planning to issue tenders for large-scale solar power capacity to increase the share of renewable energy in their portfolio.

Since 2019, SECI has introduced a new mechanism to strike a balance between the interests of developers and discus.

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"I have formed the International Solar Alliance, which consists of 80–85 member countries. They have become part of the movement all over the world. Since it was done with a clear heart, the result is that India is making huge progress so far Is. As far as solar power is concerned. Today, the price per unit has come down from Rs. 12-13 to Rs. 2, "PM Modi on Saturday morning observed the 8th convocation ceremony of Pandit Deendayal Petroleum University in Gandhinagar via video. While addressing. the seminar.

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