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NTPC Renewable Energy Invites Bids for 110 MW Wind Project in Gujarat

GREW Solar to Set Up 3 GW Cell and Module Facility in Madhya Pradesh

NHPC Invites Bids for 500 MW/1 GWh Standalone BESS in Andhra Pradesh

Daily News Wrap-Up: MoP Issues Pumped Storage Project Bidding Guidelines


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					</table><p>India added over 800 MW of wind power capacity in the fourth quarter (Q4) of calendar year (CY) 2024, up 45.1% year-over-year (YoY) from 551 MW. The capacity additions surged 13.3% quarter-over-quarter (QoQ) from 706.6 MW, according to <a href="https://www.mercomindia.com/research" target="_blank" rel="noopener">Mercom India Research</a>.</p>
<p>Increasing demand for wind-solar hybrid power and improvement in the wind turbine supply chain with project developers undertaking construction and erection activities reduced commissioning timelines. The increased focus of commercial and industrial (C&amp;I) consumers on meeting corporate sustainability goals further drove the installations in the quarter.</p>
<p>A significant increase in auctioned wind projects and increasing demand for hybrid, firm, and despatchable renewable energy (FDRE) and round-the-clock (RTC) by C&amp;I consumers and distribution companies (DISCOMs) will likely see more wind installations in the coming quarters.</p>
<p>Recently, Corcord Biotech <a href="https://www.mercomindia.com/clean-max-wind-solar-project-concord-biotech" target="_blank" rel="noopener">signed</a> an agreement for renewable power from a 9.9 MW wind-solar hybrid power project. Bharti Airtel <a href="https://www.mercomindia.com/airtel-procure-power-amp-50-mw-hybrid-project" target="_blank" rel="noopener">announced</a> that it would procure power from a 50 MW wind-solar hybrid power project in Rajasthan.</p>
<p>Tamil Nadu led the installations in Q4, adding 366.6 MW. Gujarat, Karnataka, and Maharashtra added 264.6 MW, 166.9 MW, and 2.1 MW, respectively.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-75975 " src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture1-wind-1.png" alt="" width="668" height="405" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture1-wind-1.png 725w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture1-wind-1-300x182.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture1-wind-1-650x394.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture1-wind-1-624x379.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture1-wind-1-600x364.png 600w" sizes="(max-width: 668px) 100vw, 668px" /></p>
<p>As of December 2024, the cumulative installed wind capacity was 48.2 GW. The cumulative installations rose 1.7% <a href="https://www.mercomindia.com/indias-wind-energy-installations-rise-72-yoy-in-q3-2024" target="_blank" rel="noopener">from</a> 47.4 GW at the end of September 2024.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-75976 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture2-wind.png" alt="" width="779" height="581" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture2-wind.png 779w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture2-wind-300x224.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture2-wind-768x573.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture2-wind-650x485.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture2-wind-624x465.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/Picture2-wind-600x447.png 600w" sizes="(max-width: 779px) 100vw, 779px" /></p>
<p>Gujarat, Tamil Nadu, and Karnataka continued to lead the cumulative wind capacity with 12.5 GW, 11.4 GW, and 6.7 GW installed as of December 2024.</p>
<p>Maharashtra and Rajasthan retained their fourth and fifth position with around 5.2 GW each of cumulative installed wind capacity.</p>
<p>The top five states accounted for 89.9% of the cumulative installed wind capacity as of December 2024.</p>
<p>In Q4 2024, Andhra Pradesh and Rajasthan notified their integrated clean energy policies. As a part of these policies, Andhra Pradesh <a href="https://www.mercomindia.com/andhra-pradesh-clean-energy-policy-targets" target="_blank" rel="noopener">targeted</a> 35 GW of wind, and Rajasthan <a href="https://www.mercomindia.com/rajasthan-clean-energy-policy-2030" target="_blank" rel="noopener">aims</a> to add 25 GW of wind and hybrid energy capacity by the financial year (FY) 2030.</p>
<p>In its <a href="https://www.mercomindia.com/telangana-aims-for-20-gw-renewable-energy-capacity-additions-by-2030" target="_blank" rel="noopener">recently</a> released renewable energy policy, Telangana announced a target to achieve 4.5 GW of wind energy capacity by FY 2035.</p>


India’s Installed Wind Capacity Rose 45% YoY in Q4 2024


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					</table><p>Bid invitations for utility-scale solar projects in calendar year (CY) 2024 surpassed annual tender announcements of all previous years. Several entities floated tenders totaling 79.3 GW, <a href="https://www.mercomindia.com/solar-auctions-surge-2023" target="_blank" rel="noopener">up</a> 39% from 57 GW in 2023.</p>
<p>In 2024, 48.1 GW of utility-scale solar projects were auctioned, a 117% <a href="https://www.mercomindia.com/solar-auctions-surge-2023" target="_blank" rel="noopener">increase</a> year-over-year (YoY) from 22.2 GW.</p>
<p>A significant increase in tender announcements by renewable energy implementation agencies to comply with the <a href="https://www.mercomindia.com/mnre-renewable-energy-bidding-trajectory" target="_blank" rel="noopener">annual bidding trajectory</a> and increased compliance with the bidding process completion timeline specified in the new bidding guidelines for <a href="https://www.mercomindia.com/new-solar-bidding-rules-caps-single-bidder">solar</a> and <a href="https://www.mercomindia.com/bidding-guidelines-wind-solar-hybrid-projects" target="_blank" rel="noopener">wind-solar hybrid</a> power projects drove the auction activity in 2024.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-75707 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1.png" alt="" width="910" height="592" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1.png 910w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1-300x195.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1-768x500.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1-650x423.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1-624x406.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-1-600x390.png 600w" sizes="(max-width: 910px) 100vw, 910px" /></a></p>
<p>Standalone solar dominated utility-scale solar tenders in 2024, accounting for 78.4% of the capacity. Solar projects with battery energy storage systems (BESS) followed at 13.7%, while wind-solar hybrid projects ranked third with 6.6%. Floating solar projects made up 1.1%, placing fourth.</p>
<p>The tender and auction activity tracked by Mercom India comprises large-scale standalone solar and wind-solar hybrid power projects. For wind-solar hybrid power tenders, the solar capacity is calculated at a ratio of 67% of the total tendered hybrid power capacity in projects where specific solar capacities are not mentioned.</p>
<p>The top five agencies accounted for 71% of the utility-scale solar projects tendered in 2024.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-75706 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2.png" alt="" width="775" height="548" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2.png 775w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2-300x212.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2-768x543.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2-650x460.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2-624x441.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2025/01/solar-tender-2-600x424.png 600w" sizes="(max-width: 775px) 100vw, 775px" /></a></p>
<p><strong>Major Tenders in 2024</strong><strong> </strong></p>
<p>RUVITL <a href="https://www.mercomindia.com/rajasthan-invites-bids-solar-projects" target="_blank" rel="noopener">invited</a> bids to procure 8 GW of solar power to fulfill the state&#8217;s renewable purchase obligation (RPO) and renewable generation obligation (RGO) targets for coal/lignite-based generators.</p>
<p>MSEDCL also <a href="https://www.mercomindia.com/maharashtra-invites-bids-grid-connected-solar-projects" target="_blank" rel="noopener">floated</a> a tender to procure 5 GW of solar power to meet the state&#8217;s RPO and RGO targets of coal/lignite-based generators.</p>
<p>The Uttar Pradesh New and Renewable Energy Development Agency (<a href="https://upneda.org.in/" target="_blank" rel="noopener">UPNEDA</a>) <a href="https://www.mercomindia.com/upneda-invites-solar-projects-under-pm-kusum" target="_blank" rel="noopener">issued</a> a tender to install 3.2 GW solar projects at various locations to solarize segregated agricultural feeders at distribution substation for sale of power to Uttar Pradesh Power Corporation (<a href="https://uppcl.org/uppcl/en" target="_blank" rel="noopener">UPPCL</a>) through the renewable energy service company model under C2 component of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (<a href="https://pmkusum.mnre.gov.in/#/landing" target="_blank" rel="noopener">PM – KUSUM</a>) program.</p>
<p>UPPCL <a href="https://www.mercomindia.com/uttar-pradesh-discom-invites-solar-projects" target="_blank" rel="noopener">issued</a> a 2 GW tender to add solar power in the state under build, own, operate, and maintain for 25 years through tariff-based competitive bidding.</p>
<p>SECI <a href="https://www.mercomindia.com/seci-invites-bids-for-2-gwh-standalone-energy-storage-systems" target="_blank" rel="noopener">invited</a> bids for installing 2 GW inter-state transmission system-connected solar power projects with 1 GW/4 GWh energy storage systems under Tranche XVII.</p>
<p><strong>Major Auctions in 2024</strong></p>
<p>SJVN Green Energy, Megha Engineering &amp; Infrastructures, Avaada Energy, Maharashtra State Power Generation Company, and NACOF Oorja were amongst the winners of MSEB Solar Agro Power&#8217;s <a href="https://www.mercomindia.com/sjvn-meil-avaada-winners-maharashtras-solar-tender" target="_blank" rel="noopener">auction</a> to procure 7.8 GW solar power under Component C of the PM &#8211; KUSUM program.</p>
<p>NTPC Renewable Energy, Sembcorp Green Infra, Blupine Energy, Hero Solar Energy, and Reliance Power won the SECI&#8217;s Tranche XVII <a href="https://www.mercomindia.com/ntpc-sembcorp-reliance-hero-solar-bess-auction" target="_blank" rel="noopener">auction</a> to develop 2,000 MW of inter-state transmission system (ISTS)-connected solar power projects integrated with 1,000 MW/4,000 MWh energy storage systems.</p>
<p>JSW Energy, Tata Power Renewable Energy, Avaada Energy, and Juniper Green Energy won MSEDCL&#8217;s <a href="https://www.mercomindia.com/msedcl-1650-mw-wind-solar-auction" target="_blank" rel="noopener">auction</a> to supply 1,650 MW of wind-solar hybrid power on a long-term basis from grid-connected intrastate projects with a greenshoe option of up to 1,650 MW.</p>
<p>Apraava Energy, Avaada Energy, ReNew, and JSW Energy won NTPC&#8217;s <a href="https://www.mercomindia.com/ntpc-tranche-iii-solar-auction" target="_blank" rel="noopener">auction</a> to set up 1,500 MW of ISTS-connected solar power projects (Tranche III) across India.</p>
<p>AMPIN Energy Transition, Zelestra, EverGreen Power, Juniper Green Energy, Datta Infra, JSW Energy, and Avaada Energy were <a href="https://www.mercomindia.com/ampin-juniper-jsw-avaada-among-hybrid-power-auction" target="_blank" rel="noopener">awarded</a> SJVN Green Energy&#8217;s tender to develop 1,500 MW of ISTS-connected wind-solar hybrid power projects in India.</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


Utility-Scale Solar Tenders and Auctions in India Reach New Peak in 2024


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					</table><p>Tamil Nadu added record solar open access capacity in the first nine months (9M) of the calendar year (CY) 2024, surpassing the annual capacity additions of the previous years, according to Mercom&#8217;s <a href="https://www.mercomindia.com/product/q3-2024-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q3 2024 India Solar Open Access Market Report</a>.</p>
<p>India <a href="https://www.mercomindia.com/solar-open-access-capacity-surges-to-4-8-gw-in-india-for-9m-2024" target="_blank" rel="noopener">added</a> 4.8 GW of solar open access capacity in 9M 2024, up almost 69% from 2.8 GW in 9M 2023. Tamil Nadu ranked fourth among states during this period, accounting for nearly 12% of the installations in the country. The state&#8217;s capacity additions increased by over 101% compared to 9M 2023.</p>
<p>In the third quarter (Q3) of 2024, solar open access installations in India totaled 1.1 GW, a 36% drop quarter-over-quarter (QoQ) and over 6% decline year-over-year (YoY).</p>
<p>The state ranked second in the country for capacity additions during Q3, comprising nearly 24% of the quarter&#8217;s installations. Tamil Nadu&#8217;s capacity addition rose over 44% YoY and approximately 49% QoQ. The QoQ growth was the highest in the country.</p>
<p><a href="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access.png"><img loading="lazy" decoding="async" class="aligncenter wp-image-73796 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access.png" alt="" width="995" height="382" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access.png 995w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access-300x115.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access-768x295.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access-650x250.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access-624x240.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/12/solar-open-access-600x230.png 600w" sizes="(max-width: 995px) 100vw, 995px" /></a></p>
<p>As of September 2024, India&#8217;s cumulative installed solar open access capacity was 17.8 GW, with Tamil Nadu ranking fourth in the country, accounting for over 11% of the country&#8217;s installations. The state&#8217;s cumulative installed solar open access capacity increased by a compounded annual growth rate of almost 39% between 2020 and 2023, with the YoY growth averaging over 55% during this period. Additionally, Tamil Nadu&#8217;s cumulative installations grew by over 40% between CY 2023 and 9M 2024.</p>
<p><strong>Policy Support </strong></p>
<p>The state&#8217;s structured regulatory framework, <a href="https://www.tnpdcl.org/en/tnpdcl/" target="_blank" rel="noopener">Tamil Nadu Generation and Distribution Corporation</a>&#8216;s streamlined approval process for captive and group captive projects, and a sizeable industrial base have been the key demand drivers for solar open access.</p>
<p>The electricity tariffs applicable to Tamil Nadu&#8217;s commercial and industrial (C&amp;I) consumers are among the highest in the country. In the current financial year (FY) 2025, the state&#8217;s regulatory commission raised the tariffs by more than 5%. The increased tariffs continue to support significant savings for industrial consumers under the third-party sale model despite the increase in wheeling charges, transmission charges, and cross-subsidy surcharge for C&amp;I consumers in FY25.</p>
<p>According to Mercom, the state has a significant pipeline of open-access solar projects, with standalone solar projects contributing the most. These projects will likely allow considerable capacity additions in the upcoming quarters. Wind-solar hybrid projects accounted for over 23% of the state&#8217;s development pipeline.</p>
<p>Mercom&#8217;s <a href="https://www.mercomindia.com/product/india-solar-project-tracker" target="_blank" rel="noopener">solar open access tracker</a> provides all vital project details for installed and pipeline captive, group captive, third-party, and projects under solar parks in the country.</p>
<p>The <a href="https://www.mercomindia.com/product/q3-2024-mercom-india-solar-open-access-market-report" target="_blank" rel="noopener">Q3 2024 India Solar Open Access Market Report</a> is 59 pages long and covers state-wise open access charges, electricity tariffs, power purchase agreement tariffs, installed and pipeline project capacities, and policy updates, along with other critical information and data on the market.</p>


The Growing Market for Solar Open Access in Tamil Nadu


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					</table><p>India added 706.5 MW of wind energy capacity in Q3 2024, a 72% increase year-over-year (YoY) from 411.5 MW in Q3 2023, according to <a href="https://www.mercomindia.com/research" target="_blank" rel="noopener">Mercom India Research</a>.</p>
<p>The increased demand for wind energy by state distribution companies and other obligated entities to fulfill their renewable purchase obligations (RPO) drove capacity additions in Q3.</p>
<p>The capacity additions fell 8% quarter-over-quarter (QoQ) from 769.9 MW installed in Q2 due to delays in grid connectivity, limited availability of transmission infrastructure, land acquisition, and right-of-way (ROW) issues.</p>
<p>Gujarat led the capacity additions in the quarter with 356.5 MW. Of the remaining 350 MW, Tamil Nadu accounted for 253.2 MW, Karnataka added 94.8 MW, and Maharashtra 2.1 MW.</p>
<p>During the quarter, JSW Energy commissioned a 300 MW interstate transmission system (ISTS)-connected wind power project. It was part of the 450 MW <a href="https://www.mercomindia.com/seci-wind-auction-tranche-x-results" target="_blank" rel="noopener">awarded</a> to the company by Solar Energy Corporation of India (SECI) under Tranche – X tender. Adani Green Energy also commenced operations of its 250 MW wind power project in Khavda, Gujarat. A few other developers also commissioned significant capacity of wind power projects in the quarter.</p>
<p><img loading="lazy" decoding="async" class=" wp-image-71846 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-bar-chart-300x211.jpg" alt="Wind quart- bar chart" width="508" height="358" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-bar-chart-300x211.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-bar-chart-768x541.jpg 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-bar-chart-650x457.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-bar-chart-624x439.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-bar-chart-600x422.jpg 600w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-bar-chart.jpg 790w" sizes="(max-width: 508px) 100vw, 508px" /></p>
<p>As of September 2024, the cumulative installed wind energy capacity was 47.3 GW.</p>
<p><img loading="lazy" decoding="async" class=" wp-image-71851 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-pie-300x228.jpg" alt="Wind quart - pie" width="526" height="400" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-pie-300x228.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-pie-650x493.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-pie-624x474.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-pie-600x455.jpg 600w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Wind-quart-pie.jpg 709w" sizes="(max-width: 526px) 100vw, 526px" /></p>
<p>Gujarat had the highest cumulative installed wind energy capacity at 12.2 GW. Tamil Nadu and Karnataka followed with 11 GW and 6.6 GW, respectively.</p>
<p>Maharashtra and Rajasthan rounded off the top five with 5.2 GW each of cumulative wind capacity as of September  2024.</p>
<p>Andhra Pradesh and Madhya Pradesh also had significant cumulative wind installations with 4.1 GW and 2.8 GW.</p>
<p>In September 2024, the Government of Tamil Nadu <a href="https://www.mercomindia.com/tamil-nadu-issues-wind-repowering-and-refurbishment-policy" target="_blank" rel="noopener">issued</a> the Repowering, Refurbishment &amp; Life Extension Policy for Wind Power Projects Policy 2024 to enhance wind energy production, improve efficiency, and optimize its wind energy resources.</p>


India’s Wind Energy Installations Rise 72% YoY in Q3 2024


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					</table><p>Several agencies floated 16.2 GW of tenders in the third quarter (Q3) of the calendar year (CY) 2024, an increase of 51.9% from 10.7 GW in the previous quarter and 19.2% from 13.6 GW in the same quarter last year.</p>
<p>Bid invitations by renewable energy implementation agencies (REIAs), including <a href="https://ntpc.co.in/" target="_blank" rel="noopener">NTPC</a>, <a href="https://www.nhpcindia.com/" target="_blank" rel="noopener">NHPC</a>, <a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>, and <a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN</a>, to fulfill MNRE&#8217;s annual bidding <a href="https://www.mercomindia.com/mnre-renewable-energy-bidding-trajectory" target="_blank" rel="noopener">trajectory</a> target of 50 GW from FY24 to FY28 drove the tendered capacities in Q3. Even though the ministry hasn&#8217;t yet notified the quarterly targets by the agencies for FY25, REIAs accounted for 58% of the solar tenders issued in Q3 2024.</p>
<p>Auction announcements fell 13.6% from 6.7 GW in Q2 2024 to 5.8 GW in Q3. The auction activity dropped 17.1% from the same quarter in 2023.</p>
<p>In Q3 2024, the auctioned standalone solar capacity was the lowest compared to the previous four quarters. The market is seeing an increase in demand from off-takers for renewable energy that can meet peak demand that is round-the-clock and firm and dispatchable. Additionally, unsigned power purchase agreements (PPAs) for several projects remain a significant concern for developers participating in auctions.</p>
<p>&nbsp;</p>
<p><img loading="lazy" decoding="async" class=" wp-image-71663 aligncenter" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Solar-TA-Graph-300x220.jpg" alt="Solar T&amp;A Graph" width="483" height="354" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Solar-TA-Graph-300x220.jpg 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Solar-TA-Graph-650x477.jpg 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Solar-TA-Graph-624x458.jpg 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Solar-TA-Graph-600x440.jpg 600w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/10/Solar-TA-Graph.jpg 688w" sizes="(max-width: 483px) 100vw, 483px" /></p>
<p><strong>Top Tender Issuing Agencies </strong></p>
<p>The capacity of tenders issued by <a href="https://upneda.org.in/" target="_blank" rel="noopener">UPNEDA</a> was the highest in the quarter, contributing 21.7% to the total. SECI and NTPC accounted for 18.6% and 16.1%, respectively.</p>
<p>SJVN and NHPC accounted for 12.8% and 7.4% of the tenders issued in the quarter, respectively.</p>
<p><strong>Major Tenders Announced in Q3 2024 </strong></p>
<p>UPNEDA <a href="https://www.mercomindia.com/upneda-invites-solar-projects-under-pm-kusum" target="_blank" rel="noopener">invited</a> bids to set up 3.5 GW of grid-connected solar projects.</p>
<p>SECI <a href="https://www.mercomindia.com/seci-solar-storage-tranche-xvii" target="_blank" rel="noopener">issued</a> a tender to develop 2 GW of ISTS-connected solar PV projects with 2 GW/4 GWh Energy Storage Systems (ESS) under Tranche XVII. The agency also issued a tender to develop 1 GW of ISTS-connected solar PV projects.</p>
<p>NHPC <a href="https://www.mercomindia.com/nhpc-tenders-1-2-gw-solar-projects-with-600-mw-12000-mwh-energy-storage" target="_blank" rel="noopener">floated</a> a tender to develop 1.2 GW ISTS-connected solar projects with 600MW/1.2 GWh of integrated ESS.</p>
<p>SJVN <a href="https://www.mercomindia.com/sjvn-tenders-1-2-gw-solar-projects-energy-storage" target="_blank" rel="noopener">invited</a> bids to develop 1.2 GW ISTS-connected solar projects with 600 MW/2.4 GWh of integrated ESS.</p>
<p>NTPC announced a tender to develop 1.2 GW of ISTS-connected wind-solar hybrid power projects.</p>
<p><strong>Major Auctions in Q3 2024</strong></p>
<p>Onward Solar Power, Jevargi Solar (Rays Infra), Essar Renewables, Mahindra Susten, and Avaada Energy <a href="https://www.mercomindia.com/onward-solar-mahindra-and-solar-auction" target="_blank" rel="noopener">won</a> NHPC&#8217;s auction to develop 1.2 GW ISTS-connected solar power projects.</p>
<p>SAEL Industries, NTPC Renewable Energy, and BluPine Energy were <a href="https://www.mercomindia.com/onward-solar-mahindra-and-solar-auction" target="_blank" rel="noopener">declared</a> winners in SECI&#8217;s auction to develop 1.2 GW of ISTS-connected solar projects under Tranche XVI on a build, own, and operate basis.</p>
<p>Pace Digitek, Hero Solar Energy (Hero Future Energies), ACME Solar Holdings, and JSW Neo Energy (JSW Energy) were <a href="https://www.mercomindia.com/seci-solar-plus-storage-auction-tranche-xv" target="_blank" rel="noopener">declared</a> winners in SECI&#8217;s auction to develop 1,200 MW of ISTS-connected solar projects with 600 MW/1,200 MWh energy storage systems (ESS) under Tranche XV.</p>
<p>ACME Solar Holdings, SAEL Industries, Essar Renewables, Onward Solar Power, and NTPC Renewable Energy <a href="https://www.mercomindia.com/acme-sael-essar-sjvn-solar-auction" target="_blank" rel="noopener">won</a> SJVN&#8217;s auction to develop 1.2 GW ISTS-connected solar projects.</p>
<p>Essar Renewables, Juniper Green Energy, Serentica Renewables, Hexa Climate Solutions, and Avaada Energy <a href="https://www.mercomindia.com/nhpc-fdre-auction-ii" target="_blank" rel="noopener">won</a> NHPC&#8217;s auction to supply 1,200 MW of firm and dispatchable power from ISTS-connected renewable power projects coupled with an energy storage system (Tranche II).</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


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