The government will not accept any unreasonable bids for renewables like solar and wind and continue to conduct auctions via reverse bidding as it is transparent, Union Minister R K Singh said Tuesday.
The statement assumes significance as the renewable energy ministry has planned to auction 61 GW of renewables capacity in 2018-19 and 56 GW in 2019-20.
The capacities that will be auctioned include that of solar, wind, small hydro, bio-mass, floating solar, solar wind hybrid and offshore wind.
"We will accept bids which are reasonable. If we come across bids which we consider to be excessive, we will cancel them," the renewable energy minister said at an event here.
About introduction of close bidding for the sector, the minister said:"We had commissioned a study. They have said the reverse bidding system would be totally transparent and good for the sector."
About allegation of cartelisation against an MNC, Renewable Energy Secretary Anand Kumar said there is no such allegation. "We found certain bids to be unacceptable and we did not accept them because their prices were higher."
On the success of RE-INVEST I organised in 2015, the minister said: "We have established a capacity of 37GW in last four years. We are going to expand. More investment will come. Now renewable energy capacity in the country is around 73GW."