In September 2025, India issued over 3,628 MW of tenders for renewable energy as solar capacity additions exceeded 25 GW in the first eight months of 2025. The total renewable capacity reached 242.6 GW, and investments of USD 2,245 million were made, according to JMK Research & Analytics.
Major tenders signal strong government intent
The Deendayal Port Authority invited bids for a 1,000 MW solar project in Gujarat, while the government-owned public sector firm SJVN (formerly known as Satluj Jal Vidyut Nigam) sought proposals for a 600 MW ISTS-connected wind project. On the EPC side, over 3,000 MW of new tenders were floated, led by Coal India Limited’s 3,000 MW solar plan across five states. These moves underline the Centre’s ambition to speed up renewable deployment and attract large-scale investors.
Investment momentum picks up
In September, green power markets continued to expand. The Indian Energy Exchange traded 994 million units in the Green Day Ahead Market, up 10.1 per cent month-on-month, at an average rate of INR 4.04 per unit (USD 0.046 per unit). This indicates strengthening market liquidity and buyer sentiment. Module prices of Mono PERC panels remained stable, reflecting supply chain normalisation.
Policy consistency drives investor confidence
Analysts point out that the 3.6 GW of tenders from September are indicative of India's push to diversify sources of energy. The government seeks to achieve diversified sources of solar energy and wind energy, thus reducing fossil-fuel dependence while increasing energy security. Investor confidence is benefitting from new, clearer policy frameworks and simplified approvals which reduce risk and stimulate additional capital inflows.
A rebound from the earlier slowdown
India added 6.7 GW of solar capacity in Q1 2025, down from 9 GW a year earlier, due to commissioning delays and supply issues. However, the recent acceleration indicates a rebound that could help recover the earlier shortfall by the year’s end.
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