India mulling Generation Based Incentive for 5 GW of future solar tenders

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India is working on some new rules for 5 GW of solar projects to be tendered over three years, including bidding for a Generation Based Incentive (GBI).

Local consultancy Bridge to India said the renewable energy ministry (MNRE) is finalising the guidelines, with an announcement expected over the next two months. The timing of tenders and the geographical spread will depend on the needs of Indian power utilities

NTPC Ltd will be the off-taker for the 5 GW. It is expected to set the solar power purchase rate at INR 4.5 per kWh and urge developers to bid for additional compensation per kWh of produced power via the GBI model.