Govt unveils plans to add 250GW renewable energy capacity in next five years
Notable because
In FY2022, just about 15 GW of RE was auctioned in India. Beginning in 2023, the MNRE plans to auction 50 GW of utility-scale RE capacity for the next five years to achieve approximately 250 GW of new additions by 2028. This is a mammoth task in terms of sheer scale, almost comparable to what China achieved with solar last year (~53 GW in 2021), when they ended solar subsidies.
What to look out for in the months ahead
The plan also includes setting up at least 10 GW of wind power. Since the government has pulled the plug on reverse auctions, it would be interesting to see what bidding arrangements and regulations the Ministry of Power (MoP) and MNRE adopt this time. Another key factor is how the indigenisation of the supply chain plays into this. Prima facie, it seems that current indigenous manufacturing of this scale (50GW per annum) is almost impossible to imagine.