The power ministry is considering a ‘hybrid policy’ that allows bidding for both wind and solar power projects at the same site. Union Minister of State for Power, Coal, New and Renewable Energy, and Mines Piyush Goyal said on Friday that officials are working on the model and a draft will be placed soon for discussion.
Sources in the ministry said the policy will aim to make states partners in the project. “Currently, the policy is under discussion. The details of the sites and valuation will be done later, hopefully before the year end,” they noted.
Goyal said the government has already received bids for around 2,800 Mw in the second round of wind power auctions that concluded last week. He pointed out that a bid price of Rs 3.46 per unit for wind power projects is sustainable.
He also assured the government is committed to ensuring power-purchase pacts are done before the future auctions to avoid any delay in projects becoming operational. Goyal added that states should have the flexibility to decide energy mix under renewable power purchase obligation.
Goyal has cautioned that companies delaying renewable energy projects will be asked to surrender the allotted sites, if they fail to start the projects in given time period.
India aims to produce 175 Gw of power from renewable sources by 2022. It hopes to install 100 Gw of solar power capacity by then under its renewable energy mission. As on December 31, 2016, the country’s installed renewable energy capacity was 45.917 Gw. This includes 8.513 Gw of solar power, 28.083 Gw wind power and the rest by small hydro, biomass and waste-to-energy sources.