popular articles

India Reports Strong Growth in Renewable Tenders in H1

The Indian renewable energy market showed increased demand in the first half of 2024, with 70 GW of tenders and 38 GW of capacity awarded, supporting the target of 500 GW of non-fossil fuel capacity by 2030.
Ferme solaire, Inde

Please share:

India’s renewable energy sector is expanding rapidly, driven by a surge in tenders and project awards.
In the first half of 2024, the country announced around 70 GW of new capacity and awarded 38 GW to successful bidders. This dynamic reflects India’s strategy to achieve 500 GW of fossil fuel-free installed capacity by 2030. Capacity allocation was more balanced in the second quarter, with around 7 GW of renewable projects compared with a record 26 GW in the first quarter.
These trends are in line with India’s annual target of allocating 50 GW of renewable capacity.
In June, total renewable energy capacity reached 148 GW, with a pipeline of 140 GW of projects in various stages of development.

Growing demand and key players

The growth in demand for capacity via competitive tenders testifies to the growing interest in renewable energies in India.
In the second quarter, capacity demand doubled to 18 GW compared with the same period last year.
Federal agencies, including the Solar Energy Corporation of India, NTPC Ltd, SJVN Ltd and NHPC Ltd, accounted for around half of the total capacity tendered in the second quarter.
These agencies awarded around three quarters of the 7 GW of renewable projects during this period, with the remainder awarded by state agencies.

Available Offers and Closing Times

At the end of the second quarter, around 60 GW of tenders for green energy projects were available.
Almost half of these tenders are for solar photovoltaic projects, followed by 18% for hybrid projects with or without storage, and around 9% for onshore wind projects.
Around 6% of available bids were for autonomous energy storage.
Closing a tender can take up to six months from the initial request, although delays can occur due to unsustainable reference tariffs, strict auction conditions or shortage of grid capacity in high-efficiency areas.

Competitiveness and solar tariffs

The Indian renewable energy market remains highly competitive, with over 30 companies winning projects in the second quarter.
The main portfolios are held by Avaada Energy, JSW Energy Ltd, ReNew Energy Global PLC, Juniper Green Energy Pvt.
Ltd. and Ampin Energy, who won the majority of the 7 GW awarded.
These winners are mainly independent power producers and diversified utilities operating in India, while less than 5% of the capacity awarded during the quarter was won by international companies.
Average solar tariffs for projects awarded in the second quarter were around $33/MWh, an increase of around 2% on the previous quarter.
On the other hand, average tariffs for hybrid wind-solar projects were up 13% year-on-year, but down 5% on the previous quarter.
The tariff for stand-alone energy storage fell by around 20% to around $4,500 per quarter.
The 50 GW allocation targets for 2024 are within reach.
From 2020 to 2023, India awarded an average of 16 GW of renewable projects per year via tenders, reflecting an acceleration towards its energy transition goals.
The current momentum in India’s renewable energy market suggests that the country is well positioned to meet its ambitious green energy targets, reinforcing its role as a global leader in renewable energy.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The British Court of Appeal has reduced the prison sentences of six Just Stop Oil activists, initially sentenced to up to five years. Ten other activists retain their convictions, as the prosecution highlights the severity of their actions.
The French government has launched a public consultation on the third Multiannual Energy Programme (PPE), which sets the country's energy production and consumption trajectories for the 2025-2035 period. This process precedes the adoption of the text by decree in April.
The French government has launched a public consultation on the third Multiannual Energy Programme (PPE), which sets the country's energy production and consumption trajectories for the 2025-2035 period. This process precedes the adoption of the text by decree in April.
Negotiations between EDF and major French industrialists stall over electricity tariffs, raising concerns about industrial competitiveness against European offers.
Negotiations between EDF and major French industrialists stall over electricity tariffs, raising concerns about industrial competitiveness against European offers.
The United Kingdom is exploring the implementation of a new tax system for oil and gas producers to replace the superprofits tax, set to end in 2030.
The United Kingdom is exploring the implementation of a new tax system for oil and gas producers to replace the superprofits tax, set to end in 2030.
On March 17 and 19, Saúl Luciano Lliuya, a Peruvian farmer, will face energy group RWE in court before the regional court in Hamm, in a climate responsibility case related to the melting of Andean glaciers.
EDF implements a system of auctions for long-term nuclear electricity contracts to stabilise prices and finance its nuclear projects. The first deliveries are scheduled for 2026.
EDF implements a system of auctions for long-term nuclear electricity contracts to stabilise prices and finance its nuclear projects. The first deliveries are scheduled for 2026.
The Canada Infrastructure Bank (CIB) has committed a CAD 217 million investment to support the construction of a transmission line between Nova Scotia and New Brunswick, enhancing the reliability of the interprovincial power grid.
The Canada Infrastructure Bank (CIB) has committed a CAD 217 million investment to support the construction of a transmission line between Nova Scotia and New Brunswick, enhancing the reliability of the interprovincial power grid.
According to a report by Wood Mackenzie, net energy-related emissions in the North American electricity sector are expected to drop by 20% by 2030, with significant impacts from renewable energy and transportation electrification.
According to a report by Wood Mackenzie, net energy-related emissions in the North American electricity sector are expected to drop by 20% by 2030, with significant impacts from renewable energy and transportation electrification.
Vincent Berger, High Commissioner for Atomic Energy, issues strong criticism of France's energy strategy for 2035, deeming the CO2 reduction target overly ambitious and warning of potential overproduction of electricity.
Indonesia announces 40bn USD investment in 21 energy projects in 2025, aiming to increase refining capacity and replace LPG imports.
Indonesia announces 40bn USD investment in 21 energy projects in 2025, aiming to increase refining capacity and replace LPG imports.
The US Senate passed a resolution to repeal the methane emissions tax imposed on oil and gas producers, a measure that was part of the US Inflation Reduction Act of 2022.
The US Senate passed a resolution to repeal the methane emissions tax imposed on oil and gas producers, a measure that was part of the US Inflation Reduction Act of 2022.
China has missed a major carbon emissions target for 2024, despite record investments in renewable energy, according to recent data from the National Bureau of Statistics.
China has missed a major carbon emissions target for 2024, despite record investments in renewable energy, according to recent data from the National Bureau of Statistics.
A roadmap for the decarbonisation of the Golfe de Fos site, aimed at attracting €20 billion in investments, has been signed by the State, the Provence-Alpes-Côte d'Azur region, and the Aix-Marseille-Provence metropolitan area.
French Minister of the Economy Eric Lombard, along with several business organisations, praised the European Commission's proposals on societal and climate-related obligations for companies, but argued they need to be adjusted to better account for international competition.
French Minister of the Economy Eric Lombard, along with several business organisations, praised the European Commission's proposals on societal and climate-related obligations for companies, but argued they need to be adjusted to better account for international competition.
American Electric Power (AEP) and its affiliate Transource Energy will invest nearly $1.7 billion to improve reliability and transmission capacity across several states in the PJM region, including Indiana, Ohio, Virginia, and West Virginia.
American Electric Power (AEP) and its affiliate Transource Energy will invest nearly $1.7 billion to improve reliability and transmission capacity across several states in the PJM region, including Indiana, Ohio, Virginia, and West Virginia.
An unprecedented power outage affected 95% of the Chilean population, paralysing the country for several hours. The government has blamed the network management companies and announced a thorough investigation.
An unprecedented power outage affected 95% of the Chilean population, paralysing the country for several hours. The government has blamed the network management companies and announced a thorough investigation.
French Industry Minister Marc Ferracci warned that France would not meet the EU’s 90% emissions reduction target by 2040 unless the European Commission strengthens its support for industry.
The European Commission has unveiled a €100bn plan to support European industries, lower energy costs, and simplify regulations to enhance competitiveness against US and Chinese markets.
The European Commission has unveiled a €100bn plan to support European industries, lower energy costs, and simplify regulations to enhance competitiveness against US and Chinese markets.
The European Commission has unveiled a plan to reduce energy costs by accelerating renewable energy projects and adjusting tariff structures, aiming to cut fossil fuel imports by €45bn by 2025.
The European Commission has unveiled a plan to reduce energy costs by accelerating renewable energy projects and adjusting tariff structures, aiming to cut fossil fuel imports by €45bn by 2025.
The UK's energy regulator, Ofgem, has launched a tender for the management and operation of a pre-built transmission link connecting the Sofia offshore wind farm to the UK’s onshore network.
The UK's energy regulator, Ofgem, has launched a tender for the management and operation of a pre-built transmission link connecting the Sofia offshore wind farm to the UK’s onshore network.
After a massive power outage affecting more than 95% of the population, 90% of Chilean households regained electricity overnight from Tuesday to Wednesday. The country remains in shock following a failure that paralysed the power grid.
The UK energy regulator, Ofgem, announces a 6.4% increase in household energy bills from April 1, attributed to the volatility of gas prices in international markets.
The UK energy regulator, Ofgem, announces a 6.4% increase in household energy bills from April 1, attributed to the volatility of gas prices in international markets.
US President Donald Trump has called for the immediate restart of the Keystone XL pipeline construction, which was initially abandoned in 2021 under the Biden administration. The project aims to transport Canadian oil to US refineries.
US President Donald Trump has called for the immediate restart of the Keystone XL pipeline construction, which was initially abandoned in 2021 under the Biden administration. The project aims to transport Canadian oil to US refineries.
Delivery times and costs for essential components needed to expand power grids have nearly doubled since 2021, complicating the development of infrastructure required to meet growing energy demand.
Delivery times and costs for essential components needed to expand power grids have nearly doubled since 2021, complicating the development of infrastructure required to meet growing energy demand.

Advertising