Government to Auction up to 17 GW Solar by March 2018

The government is looking at 17 GW capacities by March 2018. So far, 3.6 GW solar capacities have been auctioned.

Solar Power

With persistent success of reverse auction of renewables, the Ministry of New and Renewable Energy has announced auction of up to 17 GW solar capacities by March 2018.

The government is looking at 17 GW capacities by March 2018. So far, 3.6 GW solar capacities have been auctioned, said Power and New and Renewable Energy Minister R K Singh during a media interaction here.

To meet India’s ambitious target of achieving 175 GW of renewable energy by 2022, the Centre will go in for auction of 30 GW solar capacities each in 2018-19 and 2019-20.

“(We) will think about imposing Customs duty on solar equipment once we develop our domestic manufacturing capacity,” Singh added.

The Solar Energy Corporation of India (SECI) would be the nodal agency for most of the auctions.

Solar power had dropped sharply to a record low of Rs 2.44 per unit in a tariff-driven bidding earlier this year.

As far as wind auction is concerned, the ministry will put on the block 3-4 GW wind power capacities during third and fourth rounds by March 2018. Each round will be of 1.5-2 GW each. At present, wind power installed capacity is 32 GW.

Union Minister of State for Power stressed that India will certainly achieve 200 GW renewable energy capacity by 2022 against the targeted 175 GW. The total investment in setting up 100 GW is estimated to be Rs. 6,00,000 cr. The 100 GW solar power target comprise of 40 GW Rooftop and 60 GW through Large and Medium Scale Grid Connected Solar Power Projects.

The competitive wind and solar tariff is seen as a big boost for India’s ambitious target of generating 175 GW power by 2022.

Source: PTI

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