Solar, wind stocks soar up to 5% as govt plans mega tenders

NEW DELHI: Shares of wind and solar companies hogged the limelight on Monday after the Ministry of New and Renewable Energy on Friday announced auction of up to 21 GW solar and wind capacities by March 2018.

Reacting to the development, Ujaas Energy was trading 2.41 per cent up at Rs 23.40 around 1.30 pm (IST). Select Energy Systems and Indosolar, Inox Wind were up 1.66 per cent at Rs 457, 3.64 per cent up at Rs 7.68 and 5.20 per cent up at Rs 143.55, respectively.

Suzlon Energy was up 5.65 per cent at Rs 14.95 at around the same time.

The ministry will put on the block 3-4 GW wind power capacities during the third and fourth rounds by March 2018. Each round will be of 1.5-2 GW each, said Power and New and Renewable Energy Minister R K Singh.

The government has already auctioned 2 GW wind capacities so for in first and second rounds this year. It has also decided to put for bidding 10 GW wind capacities each in 2018 -19 and 2019-20 to meet the target of 60 GW by 2022.

At present, wind power installed capacity is 32 GW.

Power Minister R K Singh reportedly said that India will tender enough renewable energy projects over the next three years to surpass 200 gigawatts (GW) of green capacity build by 2022. The current fiscal year ending March 31, 2018 will see new solar tenders of 16.4 GW, he added.