India will exclude renewable power companies from government contracts for between three and five years if they do not meet project completion deadlines, a government order seen by Reuters shows, as the country looks to speed up green power projects.
India needs to install more than 40 gigawatts of capacity annually - about 2.5 times the rate of addition in 2022 - to achieve its commitment to increase its non-fossil fuel capacity to 500 gigawatts by 2030.
As a result of the pandemic, the ministry allowed several extensions, most recently an order in December 2022 which granted a one-year extension to March 2024 year for the completion of various projects.
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