Powering Progress: India's Record 73 GW Renewable Tenders Drive Global Change In 2024

India issued a record 73 GW of utility-scale renewable energy tenders during 2024, beating 58 GW last year and topping the government's 50 GW annual target. Almost half the tenders involved cutting-edge technologies such as wind-solar hybrid and battery storage systems. Though this boom indicates market maturity and stakeholder appreciation, it has also brought challenges like tender undersubscription and project delays. Experts call upon authorities to redress these concerns by setting annual allotment and power sale agreement targets to sustain momentum in renewable energy capacity addition.

 

Source: Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics