Agencies Tender 35.51 GW Renewable Projects in FY24 Under Bidding Trajectory

A total of 7 GW capacity was auctioned between April and December 2023


The designated Renewable Energy Implementing Agencies (REIA) by the Ministry of New and Renewable Energy (MNRE) issued 35.51 GW of project tenders until December 2023, against the 50 GW target for the financial year (FY) 2023-24.

The MNRE shared the information in its year-end review published recently.

In April 2023, MNRE issued an agency-wise bidding calendar for the REIAs – the Solar Energy Corporation of India (SECI), NTPC, NHPC, and SJVN – to deploy 50 GW of renewable energy projects every financial year till FY 2027-28.

The calendar entails a schedule of 30 GW of renewable energy capacity for the first two quarters and 20 GW in the last two quarters.

According to Mercom’s India Solar Tender Tracker, NTPC accounted for ~42% of the total capacity tendered during the period, SECI accounted for ~34%, SJVN ~13%, and NHPC the remaining 11%.

A total of 4.96 GW of wind project tenders were issued during the period by SECI and NTPC.

Out of the total projects tendered by these REIAs during the implementation period, 7 GW capacity was auctioned between April and December.

According to MNRE, India stood fourth globally in renewable energy installed capacity and fifth in solar power capacity.

During the year, the Ministry also approved Interstate Transmission System projects to evacuate 13 GW of renewable energy in Ladakh. POWERGRID is carrying out the front-end engineering design study, which is expected to conclude in December 2024. The agency will then invite bids for the construction of the project in the region.

The Ministry also provided an update on the solar module manufacturing setup under the production-linked incentive program.

It said that FS India Solar Ventures (First Solar) has begun production of thin film solar photovoltaic modules at its facility in Sriperumbudur, Kanchipuram District, Tamil Nadu. Other manufacturers have also started productions at their respective facilities – ReNew Photovoltaics (ReNew) at Mahindra World City, Jaipur, Rajasthan; Grew Energy at Dudu, Jaipur, Rajasthan; and Tata Power Solar at Gangaikondan, Tirunelveli, Tamil Nadu.

Mercom recently listed the major developments in 2023 that impacted the solar and wind-solar hybrid sector in India.