Solar auctions during the calendar year 2023 witnessed an 82% year-over-year (YoY) growth, with 22.2 GW projects auctioned, according to Mercom India Research.

Falling module prices, streamlined balance of system (BoS) and modules’ supply, and stable BoS prices drove the auction activity in 2023.

Solar tender activity in 2023 surged by 50% YoY, with multiple entities announcing tenders totaling over 57 GW.

The year saw an increase in the capacity of solar projects tendered by the implementation agencies to meet the targets specified under the bidding trajectory notified by the Ministry of New and Renewable Energy (MNRE).

The tender and auction activity covered by Mercom India comprises large-scale standalone solar and wind-solar hybrid projects. For wind-solar hybrid tenders, the solar capacity is calculated at a ratio of 67% of the total tendered hybrid capacity in places where specific solar capacities are not mentioned.

Top Agencies Issuing Tenders

NTPC invited bids totaling 7.1 GW, the highest in the year. Solar Energy Corporation of India (SECI) issued tenders totaling nearly 7 GW. The bid invitations by the agencies rose almost 358% and over 55%, respectively.

The agencies floated tenders mainly for interstate transmission system (ISTS)-connected solar and wind-solar hybrid power projects. They also invited bids for significant capacities of floating solar projects.

Jodhpur Vidyut Vitran Nigam (JDVVNL), SJVN, and Rajasthan Urja Vikas Nigam (RUVNL) issued tender capacities of 5.4 GW, 4.3 GW, and 3.7 GW, respectively. While JDVVNL didn’t float any large-scale solar or wind-solar hybrid project tenders in 2022, the tender activity of SJVN and RUVNL was insignificant.

The top five agencies accounted for more than 48% of the projects tendered in 2023.

Major Tenders in 2023

NHPC invited bids to develop 3,000 MW of ISTS-connected solar projects. The tender document specified a minimum bid capacity of 50 MW and the remaining capacity in multiples of 10 MW.

SECI invited bids to develop 2,000 MW of ISTS-connected wind-solar hybrid power projects (Tranche VII).

NTPC floated tenders to commission 1,500 MW each of ISTS-connected solar (Tranche-I) and ISTS-connected wind-solar hybrid power projects.

SJVN invited bids from developers to set up 1,500 MW ISTS-connected solar projects.

PFC Consulting invited bids to commission 1,250 MW of ISTS-connected solar projects bundled with renewables and storage under the program for flexibility in the Generation and Scheduling of Thermal/Hydro Power Stations.

Major Auctions in 2023

Solairedirect Energy India (ENGIE), Avaada Energy, Hazel Hybren (Mahindra), Jakson, Sprng Energy, Green Infra Wind Energy (Sembcorp), Apraava Energy, and Hinduja Renewable Energy won NHPC’s auction to develop 3 GW of ISTS-connected solar power projects.

SAEL, ReNew, Eden Renewables, Jakson, Shiva Corporation, and Avaada Energy won SECI’s auction to set up 2 GW ISTS-connected solar projects (Tranche XI) in India.

Solalite Power (O2 Power), Sprng Energy, ACME Cleantech Solutions, Juniper Green Energy, and Avaada Energy won NTPC’s auction to set up 1,500 MW of ISTS-connected wind-solar hybrid power projects.

NTPC Renewable Energy, ACME Cleantech Solutions, and Solarcraft Power India 12 (Blupine Energy) won PFC Consulting’s auction to develop 1,250 MW ISTS-connected solar projects.

Amp Energy India, ReNew Vikram Shakti, Hero Future Energies, and ACME Cleantech Solutions won the SECI’s auction to develop 1,200 MW of ISTS-connected wind-solar hybrid power projects (Tranche-VI) with energy storage and assured peak power supply across India.

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