November 5, 2024
Major contributions included NHPC’s 1,200 MW solar tender and NTPC’s 1,200 MW wind-solar hybrid tender, with a greenshoe option for an additional 600 MW
SECI invited bids for 1,200 MW of round-the-clock RE power through ISTS connections, showcasing efforts to strengthen energy reliability
Cumulative RE capacity reached 201.46 GW by September 2024, bolstered by 17,444 MW of solar and 2,626 MW of wind capacity added since January
October's RE auctions allocated 6,316 MW, underlining strong developer interest and support for renewable infrastructure
India’s renewable energy (RE) sector demonstrated notable growth in October 2024, with 16 tenders launched for a total capacity of 11,098 MW, as outlined in the JMK Research Market Intelligence report. Prominent issuers included NHPC, which issued a 1,200 MW solar tender with ISTS (Inter-State Transmission System) connectivity, and NTPC, which announced a 1,200 MW wind-solar hybrid tender, offering an additional 600 MW under a greenshoe option. SECI further bolstered the market by inviting bids for 1,200 MW of round-the-clock RE power linked to ISTS.
The expansion of RE capacity remained a key highlight. Between January and September 2024, India added 17,444 MW of solar and 2,626 MW of wind energy, bringing the total cumulative RE capacity to 201.46 GW. September alone witnessed the installation of 1,501 MW of combined solar and wind power, signalling a steady increase in new capacity additions.
Auction activities in October reinforced this growth, with 6,316 MW of RE capacity awarded to various developers, indicating sustained interest in the sector. The RE sector drew $103 million in new funding on the investment front, supporting continued project development and expansion. Market dynamics showed stability, as the Indian Energy Exchange (IEX) reported trading 33.55 million units in the Green Term Ahead Market (GTAM), maintaining the demand seen in previous months. Additionally, domestic Mono PERC module prices experienced a slight dip of 1.18% during October.
Policy momentum continued to align with the sector’s growth. In October, 10 central and 12 state-level policy notifications, regulations, and orders were issued, reinforcing a regulatory framework to accelerate renewable energy adoption and development.
Source: Economic Times