A total of 16.5 GW of utility-scale solar tenders were issued by various agencies in the third quarter (Q3) of the calendar year 2025, representing a 137.6% increase from 6.9 GW in the previous quarter and a decrease of 17.8 % from 20 GW in the same quarter last year, according to Mercom India research.

In 9M 2025, more than 37 GW was tendered, compared to 72 GW in 9M 2024, a decrease of 48%.

The third quarter saw agencies floating nearly 8 GW of tenders under the PM KUSUM program, accounting for 48% of all renewable energy tenders announced during the period. In comparison, only 357 MW of PM KUSUM tenders were floated in the previous quarter, primarily by the Assam Power Distribution Company.

Tendering activity in the PM KUSUM segment was witnessed in many states, mainly in Rajasthan and Maharashtra. During the quarter, renewable energy implementing agencies issued several engineering, procurement, and construction tenders, which accounted for a significant share of the activity, apart from NHPC’s 1,200 MW development tender for the Jalaun Solar Park.

Auction Activity

Capacity auctioned during the quarter rose 21.4% from 1.7 GW in Q2 2025 to 2.2 GW in Q3 2025. However, the capacity auctioned decreased by 66.8% year-over-year. Although there was an increase in the capacities auctioned during Q3, the number of auctions remained almost the same from the previous quarter.

In 9M 2025, more than 10 GW of utility-scale solar projects were auctioned, compared to 38 GW in 9M 2024, a decrease of 72.4%.

Demand from offtakers is steadily rising for renewable energy solutions that can deliver peak power through hybrid configurations, storage, and provide a round-the-clock, firm, and dispatchable supply. However, developers continue to encounter difficulties when converting this demand to power purchase agreements and power sale agreements, which remain a critical concern for auction participants.

 

Top Tender Issuing Agencies

The capacity of tenders issued by Maharashtra State Electricity Board Solar Agro Power (MSAPL) was the highest in the quarter, accounting for 31.1% of the total. Coal India (CIL) and SJVN Green Energy (SGEL) accounted for 24% and 13.3%, respectively.

Jodhpur Vidyut Vitran Nigam (JdVVNL) and NHPC accounted for 7% and 7.3% of the tenders issued in the quarter, respectively.

Major Tenders in Q3 2025

MSAPL invited bids to develop and supply 3.43 GW of solar power from 509 power projects under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0). It also invited bids to procure 1.6 GW of decentralized ground-mounted solar projects under the MSKVY 2.0.

CIL floated an engineering, procurement, and construction tender to set up 3,000 MW grid-connected solar projects anywhere in India on a turnkey basis.

NHPC issued a request for selection to set up 1,200 MW of ground-mounted solar projects at the Jalaun Solar Park in Uttar Pradesh. Bundelkhand Saur Urja, a joint venture of NHPC and Uttar Pradesh New and Renewable Energy Development Agency (UPNEDA), is developing the solar park.

The Deendayal Port Authority issued a tender to set up a 1,000 MW solar project on its coastal land parcel between Chirai and Jangi in Gujarat.

SJVN Green Energy issued an engineering, procurement, and construction tender to set up 951 MW of solar projects across Maharashtra under the MSKY 2.0 program, aligned with the PM-KUSUM Component C.

Major Auctions in Q3 2025

Reliance Infrastructure, JBM Renewables, PNC Infratech, SAEL Industries, and Navayuga Engineering Company won NHPC’s 1.2 GW auction (Tranche-XI) to set up interstate transmission system-connected solar power projects with 600 MW/2,400 MWh energy storage systems.

ACME Solar Holdings and Ceigall India won Rewa Ultra Mega Solar’s auction to develop a 600 MW grid-connected, ground-mounted solar power project with a battery energy storage system in the Morena Solar Park, Madhya Pradesh.

Sterling and Wilson Renewable Energy won NTPC Renewable Energy’s engineering, procurement, and construction auction to set up a 245 MW solar project in Khavda Renewable Energy Park in the Rann of Kutch, Gujarat.

Larsen and Toubro Renewables won Bihar State Power Generation Company’s auction for the engineering, procurement, and construction of a 116 MW solar power project integrated with a 241 MWh battery energy storage system in Kajra, Lakhisarai district, Bihar.

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