These will be the basis for the price offers of more than 100 qualified bidders who will participate in the GEA-2 scheduled next week, through which the DOE aims to auction off 11,600 megawatts of renewable energy capacity that must be ready in the next three years.The bulk of the total capacity, or 7,620 MW, will be sourced from solar power; 3,720 MW from onshore wind; 230 MW from biomass, and 30 MW from waste-to-energy.
Various industry leaders had been pushing for higher GEAR prices, citing higher development costs, specifically for floating solar plants. These concerns were taken into consideration as the ERC deliberated on the price ceilings.In 2022, the DOE auctioned off 2,000 MW of renewable energy capacity in the first GEA, awarding 19 contracts to various developers.Subscribe to our daily newsletter
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