India tenders 70GW of renewable energy in FY 2024, half from solar PV
- Admin
- May 8, 2024
- 1 min read
Despite a decrease in the price of solar modules, solar tariffs have gone up in the past two years in India. The utility-scale renewables tender capacity in India has more than trebled to 69.8GW in fiscal year 2024, with a significant portion from solar PV. The Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics reported that out of the nearly 70GW of capacity tendered, 40GW were awarded, marking a fourfold increase from the previous year. Challenges persist in the execution of tenders, including 40% import duties on solar modules and the requirement for domestically-manufactured components. There has been a significant increase in new developers entering the Indian utility-scale market, such as BrightNight.
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