The goal established by the government is for PSUs controlled by the central government to produce 500 gigawatts of green energy annually.
According to Moneycontrol, the government has published a thorough agency-by-agency breakdown on how to submit bids for renewable energy projects with a combined capacity of 50 GW for 2023–2024.
125 GW of green energy were produced nationwide as of March 2023, according to the Central Electricity Authority.
According to the government, it will announce bids for 15 GW of green energy in the first two quarters of the current fiscal year and 10 GW in the last two. The implementing agencies for renewable energy include NTPC, Sola Energy Corporation of India, NHPC, and SJVN.
According to a Moneycontrol article, the renewable energy implementing agencies will be allowed to submit bids for solar, wind, solar-wind hybrid, round-the-clock (RTC) RE electricity, and other renewable energy sources with or without storage.
“We are dedicated to achieving the 500 GW objective by 2030, and the bidding trajectory will contribute further to this goal. The planned bidding trajectory will give the RE developers enough time to organise their finances, create their business strategies, and improve supply chain management. Industry has a fantastic potential to engage in this market, according to RK Singh, the Union Minister for Power and Renewable Energy, as stated by Moneycontrol.