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Current Affairs

MNRE Removed Tariff Caps for Solar, Wind Power Auctions

Current context: The Ministry of New and Renewable energy (MNRE) has decided to remove the tariff caps for solar, wind power auctions.
MNRE Removed Tariff Caps for Solar, Wind Power Auctions
  • The removal of tariff caps was the longstanding industry demand of the industry, as it slowed down the pace of adding renewable generation capacities.
  • The renewable energy generation was slowed to 8.6 Giga-watt (GW) in FY 19 from 11.3 GW and 11.8 GW in FY17 and FY18, respectively.
  • The MNRE has decided to remove the cap to boost investment in solar and wind power projects.
  • The ministry has issued a directive to Solar Energy Corporation of India (SECI), NTPC, state government departments and others administering the renewable energy auctions.
  • Earlier, they had a capped tariff rate, beyond which companies cannot quote while bidding for solar and wind power projects.
  • The tariff cap for renewable energy auctions was earlier set at 2.65/unit and was gradually raised to 2.93/unit.
  • As on 31st January 2020, the installed renewable energy capacity was 86.32 GW.

Question: 

Q.1 The Ministry of _________________, has decided to remove the tariff caps for solar, wind power auctions?
a. Corporate Affairs
b. New and Renewable Energy
c. Power
d. Jal Shakti
MNRE Removed Tariff Caps for Solar, Wind Power Auctions MNRE Removed Tariff Caps for Solar, Wind Power Auctions Reviewed by Neha Verma on March 08, 2020 Rating: 5

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