Developers are invited to apply by 26 November in the first of a series of prequalification rounds to be held every three months until the target is reached.
Selected projects will receive a feed -n tariff that varies according to the number of operating hours. For the first five years, the rate is $114.8/MWh (EUR 92/MWh) for 2,500-3,000 hours or $95.7/MWh for 3,100-4,000 hours.
There is then a sliding scale for the next 15 years, varying from $114.8/MWh for 2,500 hours to $46 for 4,000 hours. The power purchase agreement will be on a take-or-pay basis.
The tariff will be paid in the local currency according to a conversion formula. It will be reviewed after two years or before this if the 2GW target has been reached.
While projects can be located anywhere, the government has designated around 7,562 square kilometres for wind and solar plants.
Projects in these areas will be granted land-use rights and benefit from environmental and technical studies the government has already carried out.
The government will also issue sovereign guarantees to support deployment and promises to invest around $278 million in establishing the necessary grid connections.