Wind-Solar Hybrids & Storage Lead India’s Record 73 GW Renewable Tenders in 2024

In 2024, India has smashed records in the renewable energy sector, issuing a staggering 73 gigawatts (GW) of utility-scale renewable energy tenders. This far outstrips the 58 GW issued in 2023, marking an unprecedented leap in the country’s clean energy ambitions.

What’s more, nearly half of these tenders are for advanced technologies like wind-solar hybrids and battery energy storage systems (BESS).

The shift signals a growing demand from renewable energy companies in India for improved power quality and grid stability—proving that India is not just expanding its renewable energy footprint but also innovating for a more resilient future.

Why Wind-Solar Hybrids and Storage are Stealing the Show?

Traditionally, India's renewable energy sector leaned heavily on standalone solar or wind projects. However, the challenge of intermittency has pushed the industry to explore smarter solutions. Wind-solar hybrids and energy storage technologies provide the answer by ensuring a more stable, consistent, and high-quality power supply. Here’s why these solutions from the best renewable energy company like AMPIN Energy Transition are in high demand:

Better Utilisation of Resources - Solar plants generate power during the day, while wind power peaks in the evening and at night. A hybrid system leverages both, ensuring a round-the-clock power supply.

Grid Stability & Power Quality - With storage systems like battery energy storage (BESS), excess energy can be stored and used when needed, minimising fluctuations and ensuring grid stability.

Higher Efficiency & Lower Costs - Hybrid systems optimise land use, infrastructure, and transmission capacity, leading to better returns for investors and lower costs for consumers.

Meeting Corporate & Industrial Demand - Businesses looking for uninterrupted green energy are driving demand for hybrid solutions as part of their sustainability goals.

With nearly half of 2024’s renewable energy tenders focused on these advanced solutions, India is clearly pivoting towards a more intelligent and adaptable energy system.

Breaking Records, Beating Targets

India’s Ministry of New and Renewable Energy (MNRE) had set a target of 50 GW of renewable energy tenders per year, but 2024 has blown past this goal with 73 GW in total. This highlights:

• Strong policy backing and investor confidence
• Growing appetite for renewable energy from industries and DISCOMs
• A maturing market that is overcoming previous challenges

Experts note that the surge in tendering activity is a testament to how all stakeholders—from investors to energy off-takers—have developed a deeper understanding of the renewable energy landscape. This newfound maturity is helping India navigate the complexities of hybrid energy solutions, making it a global leader in clean energy innovation.

The Challenges: Not All Sunshine and Wind

While India’s renewable energy ambitions are soaring, the road ahead isn’t without bumps. The report highlights some pressing concerns that could slow down implementation and temper investor enthusiasm:

Tender Under-subscription: Around 8.5 GW of renewable energy tenders went undersubscribed in 2023—a fivefold increase compared to previous years. This trend is a red flag, suggesting that developers are hesitant to bid under current conditions.

Complex Tender Designs: Some tenders have overly complicated structures, making them less attractive for bidders.

Aggressive Bidding & Low Margins: Fierce competition is driving reverse auction prices down, making projects less financially viable for developers.

Transmission Infrastructure Delays: The readiness of India’s interstate transmission system (ISTS) remains a bottleneck, slowing down the pace at which projects can be connected to the grid.

Addressing these challenges will be crucial in ensuring that the record-breaking momentum of India’s renewable energy sector translates into actual capacity additions on the ground.

What’s Next? A Brighter, Smarter Renewable Future

With wind-solar hybrids and storage technologies leading the charge, India is poised to revolutionise its energy landscape. However, to sustain this momentum, stakeholders need to:

• Simplify tender designs to encourage more participation from developers.
• Ensure competitive but realistic bidding to maintain project feasibility.
• Speed up grid infrastructure development to accommodate the growing influx of hybrid and storage projects.
• Expand policy support for new-age renewable technologies, ensuring long-term investor confidence.

The future is green, dynamic, and hybrid. With the right strategies and independent power players like AMPIN Energy Transition, India is set to not just meet but exceed its clean energy ambitions, setting an example for the world in smart, sustainable power solutions.

As the world watches, India’s 2024 renewable energy push is proving to be more than just a numbers game. It is about creating an energy ecosystem that is efficient, reliable, and future-ready. The race towards a cleaner, greener India has never been more exciting—and wind-solar hybrids with storage are leading the charge!