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					</table><p>Solar power accounted for 18.5% of India’s total installed power capacity and 42.9% of the installed renewable capacity in the first quarter (Q1) of the calendar year (CY) 2024, up from 15.2% and 37.4% year-on-year (YoY), respectively.</p>
<p>India’s installed renewable energy capacity, including large hydro projects, stood at 190.6 GW, accounting for a 43.1% share of the overall power capacity mix at the end of Q1 2024, according to data from the Central Electricity Authority (<a href="https://cea.nic.in/?lang=en" target="_blank" rel="noopener">CEA</a>), Ministry of New and Renewable Energy (<a href="https://mnre.gov.in/" target="_blank" rel="noopener">MNRE</a>), and Mercom’s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">India Solar Project Tracker</a>.</p>
<p>The total renewable energy share in the power mix increased from 179.5 GW, representing 42% of the overall power capacity mix, at the end of CY23.</p>
<p>India generated about 32 BU of solar power during the quarter.</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-66124" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Power-Mix-2024-Chart.png" alt="Power Mix 2024 Chart" width="600" height="343" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Power-Mix-2024-Chart.png 871w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Power-Mix-2024-Chart-300x172.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Power-Mix-2024-Chart-768x439.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Power-Mix-2024-Chart-650x372.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Power-Mix-2024-Chart-624x357.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/05/Power-Mix-2024-Chart-600x343.png 600w" sizes="auto, (max-width: 600px) 100vw, 600px" /></p>
<p>Large hydro accounted for 10.6% and wind 10.4% of the country’s overall installed power capacity at the end of March 2024.</p>
<p>Biomass and small hydro accounted for 2.3% and 1.1%.</p>
<p><strong>Energy from conventional sources</strong></p>
<p>As of March 2024, the installed capacity of conventional power sources stood at 251.4 GW, making up 56.9% of all installations, decreasing from 58% in the previous quarter.</p>
<p>Coal-based thermal power constituted 47.7%, gas 5.7%, nuclear 1.8%, lignite 1.5%, and diesel 0.13%.</p>
<p>Coal remained the top power source, with nearly 211 GW of thermal installations by the end of March 2024, increasing from 207.8 GW in the previous quarter.</p>
<p>A surge in power <a href="https://www.mercomindia.com/indias-power-demand-rise-sharply-256-gw-2024-25" target="_blank" rel="noopener">demand</a> and ambitious renewable energy capacity <a href="https://mercomindia.com/indias-500-gw-non-fossil-energy-target-moved-2032" target="_blank" rel="noopener">targets</a> have boosted capacity additions across the Indian power sector.</p>
<p>The Ministry of Coal, under its net-zero electricity consumption plan for coal/lignite public sector undertakings, has <a href="https://www.mercomindia.com/indian-coal-sector-targets-9-gw-renewable-2030" target="_blank" rel="noopener">set</a> a renewable energy target of 9 GW in the coal sector by 2030 from the present 1.75 GW. The ministry will also promote the deployment of rooftop and ground-mounted solar power projects across mining facilities.</p>


Solar’s Share in India’s Power Capacity Rose to 19% YoY in Q1 from 15.2%


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					</table><p>Solar auctions during the calendar year 2023 witnessed an 82% year-over-year (YoY) growth, with 22.2 GW projects auctioned, according to <a href="https://mercomindia.com/research-2/" target="_blank" rel="noopener">Mercom India Research</a>.</p>
<p>Falling module prices, streamlined balance of system (BoS) and modules&#8217; supply, and stable BoS prices drove the auction activity in 2023.</p>
<p>Solar tender activity in 2023 surged by 50% YoY, with multiple entities announcing tenders totaling over 57 GW.</p>
<p>The year saw an increase in the capacity of solar projects tendered by the implementation agencies to <a href="https://www.mercomindia.com/agencies-tender-35-51-gw-renewables-fy24-trajectory" target="_blank" rel="noopener">meet</a> the targets specified under the bidding trajectory notified by the Ministry of New and Renewable Energy (<a href="https://mnre.gov.in/" target="_blank" rel="noopener">MNRE</a>).</p>
<p><img loading="lazy" decoding="async" class="aligncenter wp-image-62867 size-full" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Solar-Tenders-and-Auctions-2023-Chart.png" alt="Solar Tenders and Auctions 2023 Chart" width="725" height="486" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Solar-Tenders-and-Auctions-2023-Chart.png 725w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Solar-Tenders-and-Auctions-2023-Chart-300x201.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Solar-Tenders-and-Auctions-2023-Chart-650x436.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Solar-Tenders-and-Auctions-2023-Chart-624x418.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2024/01/Solar-Tenders-and-Auctions-2023-Chart-600x402.png 600w" sizes="auto, (max-width: 725px) 100vw, 725px" /></p>
<p>The tender and auction activity covered by Mercom India comprises large-scale standalone solar and wind-solar hybrid projects. For wind-solar hybrid tenders, the solar capacity is calculated at a ratio of 67% of the total tendered hybrid capacity in places where specific solar capacities are not mentioned.</p>
<p><strong>Top Agencies Issuing Tenders</strong></p>
<p><a href="https://www.ntpc.co.in/" target="_blank" rel="noopener">NTPC</a> invited bids totaling 7.1 GW, the highest in the year. Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) issued tenders totaling nearly 7 GW. The bid invitations by the agencies rose almost 358% and over 55%, respectively.</p>
<p>The agencies floated tenders mainly for interstate transmission system (ISTS)-connected solar and wind-solar hybrid power projects. They also invited bids for significant capacities of floating solar projects.</p>
<p>Jodhpur Vidyut Vitran Nigam (<a href="https://energy.rajasthan.gov.in/jdvvnl/#/home/dptHome" target="_blank" rel="noopener">JDVVNL</a>), <a href="https://sjvn.nic.in/" target="_blank" rel="noopener">SJVN</a>, and Rajasthan Urja Vikas Nigam (<a href="https://energy.rajasthan.gov.in/ruvks/#/home/dptHome" target="_blank" rel="noopener">RUVNL</a>) issued tender capacities of 5.4 GW, 4.3 GW, and 3.7 GW, respectively. While JDVVNL didn&#8217;t float any large-scale solar or wind-solar hybrid project tenders in 2022, the tender activity of SJVN and RUVNL was insignificant.</p>
<p>The top five agencies accounted for more than 48% of the projects tendered in 2023.</p>
<p><strong>Major Tenders in 2023 </strong></p>
<p>NHPC <a href="https://www.mercomindia.com/nhpc-bids-3-gw-ists-connected-solar-projects" target="_blank" rel="noopener">invited</a> bids to develop 3,000 MW of ISTS-connected solar projects. The tender document specified a minimum bid capacity of 50 MW and the remaining capacity in multiples of 10 MW.</p>
<p>SECI <a href="https://www.mercomindia.com/seci-2-gw-ists-wind-solar-hybrid" target="_blank" rel="noopener">invited</a> bids to develop 2,000 MW of ISTS-connected wind-solar hybrid power projects (Tranche VII).</p>
<p>NTPC floated tenders to commission 1,500 MW each of ISTS-connected <a href="https://www.mercomindia.com/ntpc-tender-1-5-gw-ists-connected-solar-projects" target="_blank" rel="noopener">solar</a> (Tranche-I) and ISTS-connected <a href="https://www.mercomindia.com/ntpc-bids-1-5-gw-wind-solar-hybrid-projects-india" target="_blank" rel="noopener">wind-solar hybrid</a> power projects.</p>
<p>SJVN <a href="https://www.mercomindia.com/sjvn-1-5-gw-ists-solar-projects" target="_blank" rel="noopener">invited</a> bids from developers to set up 1,500 MW ISTS-connected solar projects.</p>
<p>PFC Consulting <a href="https://www.mercomindia.com/pfc-consulting-ists-connected-solar-projects" target="_blank" rel="noopener">invited</a> bids to commission 1,250 MW of ISTS-connected solar projects bundled with renewables and storage under the program for flexibility in the Generation and Scheduling of Thermal/Hydro Power Stations.</p>
<p><strong>Major Auctions in 2023</strong></p>
<p>Solairedirect Energy India (ENGIE), Avaada Energy, Hazel Hybren (Mahindra), Jakson, Sprng Energy, Green Infra Wind Energy (Sembcorp), Apraava Energy, and Hinduja Renewable Energy <a href="https://www.mercomindia.com/engie-avaada-jakson-mahindra-winners-nhpcs-solar-auction" target="_blank" rel="noopener">won</a> NHPC&#8217;s auction to develop 3 GW of ISTS-connected solar power projects.</p>
<p>SAEL, ReNew, Eden Renewables, Jakson, Shiva Corporation, and Avaada Energy <a href="https://www.mercomindia.com/sael-renew-eden-jakson-winners-secis-solar-auction" target="_blank" rel="noopener">won</a> SECI&#8217;s auction to set up 2 GW ISTS-connected solar projects (Tranche XI) in India.</p>
<p>Solalite Power (O2 Power), Sprng Energy, ACME Cleantech Solutions, Juniper Green Energy, and Avaada Energy <a href="https://www.mercomindia.com/ntpcs-1-5-gw-wind-solar-auction" target="_blank" rel="noopener">won</a> NTPC&#8217;s auction to set up 1,500 MW of ISTS-connected wind-solar hybrid power projects.</p>
<p>NTPC Renewable Energy, ACME Cleantech Solutions, and Solarcraft Power India 12 (Blupine Energy) <a href="https://www.mercomindia.com/ntpc-rel-acme-blupine-win-pfcs-1-25-gw-solar-auction" target="_blank" rel="noopener">won</a> PFC Consulting&#8217;s auction to develop 1,250 MW ISTS-connected solar projects.</p>
<p>Amp Energy India, ReNew Vikram Shakti, Hero Future Energies, and ACME Cleantech Solutions <a href="https://www.mercomindia.com/amp-energy-renew-hero-2-gw-hybrid-tender" target="_blank" rel="noopener">won</a> the SECI&#8217;s auction to develop 1,200 MW of ISTS-connected wind-solar hybrid power projects (Tranche-VI) with energy storage and assured peak power supply across India.</p>
<p>Subscribe to Mercom&#8217;s <a href="https://mercomindia.com/product/india-solar-tender-tracker/" target="_blank" rel="noopener">India Solar Tender Tracker</a> to stay on top of real-time tender activity.</p>


Solar Auctions Surge 82%, Tender Announcements Up 50% in 2023

Author: Rohit Nema

About Rohit Nema

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