Solar Tenders Rose with 14 GW As Auctions Slid to 3.75 GW in Q3 2022

Maharashtra State Electricity Distribution Company accounted for 21% of the tenders in the quarter


Various government agencies floated solar tenders totaling approximately 14 GW in the third quarter (Q3) of the calendar year (CY) 2022, an increase of 56% compared to the previous quarter, according to Mercom India Research.

Tender announcements were up 144% year-over-year (YoY) compared to the same period last year.

Auctions were held for almost 3.75 GW of solar projects in Q3, a 9% decrease compared to Q2 2022. Auction activity decreased by 58% compared to the same period last year.

tenders and auctions final

Top agencies issuing tenders in Q3 2022

Maharashtra State Electricity Distribution Company made up 21% of the tenders announced in Q3 2022. Railway Energy Management Company accounted for 18% of tenders in the quarter, followed by SECI with 16%. Gujarat Urja Vikas Nigam (GUVNL) floated 13% of the total tenders, while other government agencies accounted for the remaining 32%.

Major tenders floated in Q3 2022

Solar Energy Corporation of India (SECI) invited bids to supply 2.25 GW of RTC power from interstate transmission system (ISTS)-connected renewable power projects complemented with power from other sources or storage.

REMCL, a joint venture of the Indian Railways and RITES, issued a tender to set up 1.54 GW of ground-mounted solar power projects near the traction substations at 25 kV connectivity across India.

Madhya Pradesh Urja Vikas Nigam (MPUVNL) floated a tender for 1,250 MW of grid-connected solar power projects under Component C of the PM-KUSUM program at various locations in Madhya Pradesh.

Maharashtra State Electricity Distribution Company (MSEDCL) invited bids to procure 1,000 MW of solar power from projects developed in the state.

REMC invited bids to procure 1 GW of RTC power from renewable energy projects with or without storage across India for 25 years.

Important auctions in Q3 2022

Sterling and Wilson Renewable Energy emerged as the lowest bidder for the balance of system package for 1,255 MW of solar power projects developed by NTPC Renewable Energy.

Solarcraft Power India 2 (Blupine Energy), Solairedirect Energy (Engie), Tata Power Renewable Energy, and Utkrrisht Solar Energy (UPC Renewables) were the winners in GUVNL’s auction to procure power from 750 MW of solar projects with a greenshoe option of up to 750 MW (Phase XVI).

Sprng Ojas, Tata Power Renewable Energy, ReNew Solar Power, and TEQ Green Power IX (O2 Power) won Rewa Ultra Mega Solar Limited’s (RUMSL) auction to develop 750 MW of wind-solar hybrid power projects in Madhya Pradesh.

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