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India will auction 8 GW of wind power projects every year until 2030

The Indian Government has set a target to auction 8 GW of wind power projects every year from 2023 until the end of 2030 to boost renewable energy capacity in the country. Power generated through the new wind power plants will be sold at an average pooled price to buyers instead of the current project-specific tariffs. The bids will also specify the capacity to be installed and the cumulative capacity in any of the states will not surpass 2 GW.

The bidding model has been modified from electronic reverse bidding where the participants could reduce their offer price to bag the contracts at the lowest bid, to a model in which bidders will not be required to revise their quoted tariff for the sale of power ("single stage two envelope closed bid").

At the end of 2021, wind accounted for over 9% of installed capacity in India, with more than 40 GW. India plans to increase its non-fossil fuel capacity to 500 GW and meet 50% of its energy requirements from renewables by 2030.