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State-run coal mining and power firm NLC India has auctioned a 20MW solar PV project to be combined with 28MWh of energy storage capacity in the Andaman and Nicobar Islands.
One of the major gaps in India’s renewable energy sector is getting plugged.
Mahindra Susten won the auction for 20 MW/28MWh with the final all-in price of INR 2.99 billion ($46 million).
Azure Power has submitted the lowest bid of INR3.14 (US$0.048) in a 250MW solar auction under the Domestic Content Requirement (DCR) held by Indian utility NTPC.
The government is planning to auction 4,500 MW wind projects in the next four months to upscale the wind capacity addition in the country, sources say.
Today India is fast becoming one of the world’s most attractive markets for Renewable Energy investments. India’s rise has been due to the effective policy and regulatory support for development of Renewable Energy Technologies (RETs).
Various policy measures such as Jawaharlal Nehru National Solar Mission (JNNSM) Feed-in-Tariff, Accelerated Depreciation (AD), Generation Based Incentives (GBI), Renewable Purchase Obligations (RPO) and Renewable Energy Certificates (RECs) have helped in the rapid growth of Renewable Energy deployment in the country.
Along with above demand and supply side measures to promote Renewable Energy growth in India, various states have come up with their state Solar policies to provide an enabling framework for growth of Renewable Energy in India. All State Solar Policies are available in one roof.