Union Minister for New and Renewable Energy Pralhad Joshi has said that the government will make a final decision on all stuck renewable energy projects within the next 45 days.
Officials are currently checking each project one by one to decide which ones should continue and which should be cancelled. He shared this update while speaking at an event in Rewari, Haryana.
Joshi also said that India may temporarily slow down new renewable energy tenders. This move is aimed at reducing the current overcapacity in the solar module manufacturing sector. He explained that this slowdown will give manufacturers time to match production with real market demand and stabilise prices.
Currently, more than 40 GW of renewable energy projects have been awarded, but many still don’t have Power Purchase Agreements (PPAs) or Power Sale Agreements (PSAs), which are needed to move forward.
The minister also said that basic solar projects are not enough anymore because renewable energy with battery storage is becoming competitive at around ₹3.5 per unit, and this will be considered in the evaluation.
Joshi added that the government is also working on Phase 3 of the Green Energy Corridor, which will help evacuate renewable energy and connect it to the national grid. Discussions with states are ongoing, and the final list of states that will be included in this phase will be announced soon.
Phase 1 and Phase 2 of the corridor have already added thousands of circuit-km of transmission lines and large substation capacity to integrate renewable energy across India.
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