+
Solar auctions surge: 82% growth in 2023, 22.2 GW projects auctioned
ECONOMY & POLICY

Solar auctions surge: 82% growth in 2023, 22.2 GW projects auctioned

According to Mercom India Research, solar auctions experienced an 82% year-over-year (YoY) growth in the calendar year 2023, with 22.2 GW projects successfully auctioned. This surge was attributed to declining module prices, streamlined balance of system (BoS) and module supply, along with stable BoS prices.

In 2023, solar tender activity also saw a significant increase, rising by 50% YoY, with entities announcing tenders totalling over 57 GW. This uptick was driven by implementation agencies aiming to meet targets outlined in the bidding trajectory set by the Ministry of New and Renewable Energy (MNRE).

Mercom India's coverage included large-scale standalone solar and wind-solar hybrid projects. For wind-solar hybrid tenders, the solar capacity constituted 67% of the total tendered hybrid projects, where solar capacities were unspecified.

Among the top agencies issuing tenders, NTPC led with bids totalling 7.1 GW, closely followed by Solar Energy Corporation of India (SECI) with tenders totalling nearly 7 GW. Both agencies saw substantial increases of almost 358% and over 55%, respectively, in bid invitations.

The agencies primarily focused on tenders for interstate transmission system (ISTS)-connected solar and wind-solar hybrid power projects, including significant capacities for floating solar projects.

Jodhpur Vidyut Vitran Nigam (JDVVNL), SJVN, and Rajasthan Urja Vikas Nigam (RUVNL) played key roles, issuing tender capacities of 5.4 GW, 4.3 GW, and 3.7 GW, respectively. Notably, JDVVNL did not float large-scale solar or wind-solar hybrid project tenders in 2022, while SJVN and RUVNL had limited tender activity.

The top five agencies collectively accounted for over 48% of the projects tendered in

According to Mercom India Research, solar auctions experienced an 82% year-over-year (YoY) growth in the calendar year 2023, with 22.2 GW projects successfully auctioned. This surge was attributed to declining module prices, streamlined balance of system (BoS) and module supply, along with stable BoS prices. In 2023, solar tender activity also saw a significant increase, rising by 50% YoY, with entities announcing tenders totalling over 57 GW. This uptick was driven by implementation agencies aiming to meet targets outlined in the bidding trajectory set by the Ministry of New and Renewable Energy (MNRE). Mercom India's coverage included large-scale standalone solar and wind-solar hybrid projects. For wind-solar hybrid tenders, the solar capacity constituted 67% of the total tendered hybrid projects, where solar capacities were unspecified. Among the top agencies issuing tenders, NTPC led with bids totalling 7.1 GW, closely followed by Solar Energy Corporation of India (SECI) with tenders totalling nearly 7 GW. Both agencies saw substantial increases of almost 358% and over 55%, respectively, in bid invitations. The agencies primarily focused on tenders for interstate transmission system (ISTS)-connected solar and wind-solar hybrid power projects, including significant capacities for floating solar projects. Jodhpur Vidyut Vitran Nigam (JDVVNL), SJVN, and Rajasthan Urja Vikas Nigam (RUVNL) played key roles, issuing tender capacities of 5.4 GW, 4.3 GW, and 3.7 GW, respectively. Notably, JDVVNL did not float large-scale solar or wind-solar hybrid project tenders in 2022, while SJVN and RUVNL had limited tender activity. The top five agencies collectively accounted for over 48% of the projects tendered in

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?