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

06 Feb 2024 CW Team

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

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..