MNRE reviews competitive bidding mechanism for procurement of power from wind projects

The Ministry of New and Renewable Energy (MNRE) has revised the auction process for wind energy projects.

Every bid will be a composite bid-comprising of state specific sub-bids for each of the 8 windy states in order to ensure that wind energy capacity comes up in all the 8 windy states. The power generated from capacity established in each of the state sub-bids will be pooled and offered at pooled tariff to all procurers. The pooling of tariff will be as per the notified Electricity (Amendment) Rules, 2022. The bids will be on a single stage two envelope closed bid basis. One envelope will contain the technical bid, and the other envelope will contain the financial bid. The envelope containing the technical bid will be opened first and the financial bid of only those bidders who qualify in the technical bid will be opened. The bids will specify the capacity to be installed. One sub-bid will be specific to one state. Further, it stated that Solar Energy Corporation of India Limited (SECI) will invite bids for a cumulative capacity of about 8 GW each year from January 1, 2023 onwards up to 2030.