Renewable energy tenders in India are ‘off-track’: report

This could hold back its pursuit to reach its 2030 target.

Variable renewable energy tenders in India fell to about 28 gigawatts in 2022, down from 40GW in 2019, a report found. 

In a joint report, the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics found that this is below the level required for India to achieve its 450GW target. 

“Currently, renewable energy tendering activity is off-track. To reach the 2030 target, India will need to open renewables tenders for at least 35GW annually,” co-author Vibhuti Garg, Director, South Asia, IEEFA, said.

“But with tendering authorities looking to design tenders that balance the needs of the developers and the electricity distribution companies (DISCOMs), more than 35GW per year, although ambitious, is attainable. It is now important that Solar Energy Corporation of India (SECI), NTPC and state agencies deploy their tendering experience to implement viable and innovative tenders in the renewable energy space.

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Moreover, the report noted that the decline in annual tender issuance is linked to the shift in the preference of state electricity DISCOMS to wind-solar hybrid projects or renewable energy projects that come with energy storage from plain vanilla solar and wind projects.