India to hold 8 GW of wind auctions annually through 2030
Sembcorp's wind power assets in India. Source: Sembcorp.
The Indian government plans to auction 8 GW of wind power capacity each year through end-2030 in a bid to spur the domestic industry’s growth and help the country in achieving its renewable energy goals.
The Ministry of New and Renewable Energy (MNRE) last week issued an order that revises the electronic reverse bidding mechanism to a model in which bidders will not be required to revise their quoted tariff for the sale of power. Under the previous scheme, auction participants could reduce their offer price to bag the contracts at the lowest bid, which has allegedly caused an artificial lowering of prices.
According to the new regulations, power generated from new wind power plants will be sold at an average pooled price to off-takers The bids will also specify the capacity to be installed, with the cumulative capacity in any of the country’s eight states should not exceed 2 GW.
At the end of September 2022, India had almost 42 GW of wind turbine capacity in operation. Data by consultancy JMK Research shows that about 1.85 GW of new wind farms went online in the past year.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.