IBEF: March 27, 2019
New Delhi: The Government of India is set to launch transmission line tenders worth US$ 5 billion, starting in June 2019. The process will be undertaken in phases, to achieve the 175 gigawatts (GW) renewable energy capacity in India by 2022. India has pledged to achieve 40 per cent contribution from clean energy by 2040 and will require large investments in its energy infrastructure to do the same. Bids for 16 GW will be processed in June 2019 and for another 38 GW by March 2020. The government is committed to tackle any roadblocks in the way of achieving its targets and is ensuring timely payments power producers as well. In 2017, it changed the rules for awarding renewable projects, which has led to increased competition, lower tariffs and higher adoption of renewable energy in the country.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.