Centre seeks guarantee for solar, wind plants connected to grid

Govt scaled up target for overall renewable energy capacity by more than 5 times to 175 GW by 2022

Buoyed by the bidding success of Rewa Ultra Mega Solar, the Union government wants state governments to offer guarantees to grid connected wind and solar projects. The guarantee is one of the three tiers of payment security mechanism which is in place for the Rewa project in Madhya Pradesh and is now been planned for adoption by other states. 

The suggestion is part of new tariff-based competitive bidding guidelines for grid connected wind and solar PV power projects that the Union ministry for new and renewable energy plans to develop. The draft guidelines have been floated ahead of a two-day