New Delhi, March 12 The government is re-evaluating its plan to issue tenders for 1 GW wind energy projects, according to a senior official.
"Tenders for 1 GW of wind energy projects are ready, but we are re-evaluating whether to proceed or not," the official said.
Discussions with stakeholders also indicate that there may not be the same level of interest in these tenders as there was previously.
The official explained that steel prices have risen in recent years, which has affected the interest of potential bidders.
Steel is a critical material for both offshore and onshore wind energy projects, primarily used in towers.
The official said that the Ministry of New and Renewable Energy (MNRE) has engaged with the World Bank and various think tanks "to determine what kind of roadmap is needed to promote investment in the wind sector."
The official, speaking on condition of anonymity, also shared that MNRE is working on a new scheme to promote small hydro projects in the country.
The policy for 25 MW hydro projects is expected to be launched soon, he said.
He also said that the government may consider providing financial assistance for the manufacturing of ingots and wafers, which are a critical component in solar modules.