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Drive down prices and spur growth in the wind sector
2022-12-09
India's government is taking steps to reinvigorate the nation's sluggish wind sector, aiming to auction 8GW of projects annually until 2030. The move marks a shift away from reverse auctions that have driven down prices but also created problems like unsustainably low bids and overly-concentrated developments in the best resource regions - leading to growth delays.
To fix this, MNRE will offer 'pooled' tariffs based on bids across India's eight highest-wind states under SECI (a renewables auction body for the Indian government). This should address two key issues within the sector, according to Sidharth Jain of consultancy MEC+. It should also help meet the 57.5GW RPO target for wind by 2030.
Wind is a major part of India's plan to reach 500GW of renewable power by 2030, along with initiatives such as kick-starting the offshore wind industry and producing enough green electricity for its hydrogen targets. By November 2022, the nation had 41.8GW of wind and 61.9GW of solar in place, per MNRE figures. With these measures in place, the future looks bright for India's wind sector.
India's government is taking steps to reinvigorate the nation's sluggish wind sector, aiming to auction 8GW of projects annually until 2030. The move marks a shift away from reverse auctions that have driven down prices but also created problems like unsustainably low bids and overly-concentrated developments in the best resource regions - leading to growth delays.
To fix this, MNRE will offer 'pooled' tariffs based on bids across India's eight highest-wind states under SECI (a renewables auction body for the Indian government). This should address two key issues within the sector, according to Sidharth Jain of consultancy MEC+. It should also help meet the 57.5GW RPO target for wind by 2030.
Wind is a major part of India's plan to reach 500GW of renewable power by 2030, along with initiatives such as kick-starting the offshore wind industry and producing enough green electricity for its hydrogen targets. By November 2022, the nation had 41.8GW of wind and 61.9GW of solar in place, per MNRE figures. With these measures in place, the future looks bright for India's wind sector.