Bids to be invited for 8 GW wind projects every year till 2030

The bidding model has been modified from electronic reverse bidding where the participants reduce their offer price to bag the contracts based on the lowest bid. The auction model had led to an artificial lowering of prices.

By ET Bureau | Updated: Jan 13, 2023, 12.05 AM IST

The government will invite bids for 8 GW wind power projects every year from 2023 to 2030 under a new auction process, a notification from the Ministry of New and Renewable Energy said on Thursday.

The power generated from these projects will be pooled and offered to procurers at a "pooled tariff", the ministry said. The bids will be on a single-stage 'two envelope' basis. The bids will also specify the capacity to be installed and the cumulative capacity in any of the eight windy states will not be more than 2 GW. The Solar Energy Corporation of India may determine the maximum and minimum size of bid size based on the wind renewable energy purchase obligation.

The lowest tariff discovered through bidding in 2022 was around Rs 2.84 a unit. The total installed capacity of wind power in India is around 42 GW.

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