India issues 11,098 MW in renewable energy tenders

06 Nov 2024 CW Team

India’s renewable energy (RE) sector recorded substantial growth in October 2024, with 16 new tenders for a cumulative capacity of 11,098 MW issued, according to JMK Research’s Market Intelligence report. Major issuers included NHPC, which floated a 1,200 MW solar tender for ISTS connectivity, and NTPC, which launched a 1,200 MW wind-solar hybrid tender with an additional 600 MW capacity under a greenshoe option. SECI also issued bids for 1,200 MW of round-the-clock RE power through ISTS connections. The report highlights a continued expansion in RE installed capacity. From January to September 2024, the country added 17,444 MW of solar and 2,626 MW of wind capacity, reaching a cumulative RE capacity of 201.46 GW. In September alone, about 1,501 MW of combined solar and wind capacity was added. Auction activity remained robust, with a total of 6,316 MW of RE capacity allocated to various developers in October, underscoring India’s push toward green energy. Meanwhile, investment trends in October revealed that India’s RE sector attracted $103 million in new financing, maintaining momentum for project expansions. In the market, the Indian Energy Exchange (IEX) recorded stable trading activity, with 33.55 million units traded in the Green Term Ahead Market (GTAM), reflecting consistent demand from the previous month. The report also noted a slight 1.18% decline in domestic Mono PERC module prices in October. Policy developments for the month were significant, with 10 central and 12 state-level policy notifications, regulations, and orders issued, pointing to a regulatory environment actively supporting RE growth.>

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