Monthly RE Update – September 2026
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Summary
Tenders Issued: September 2026 saw the issuance of 30 RE tenders under EPC and project development segments.
- Project Development: In September 2026, over 1,022 MW of RE tenders were floated across the distributed solar, rooftop solar, and utility-scale solar segments. This was followed by 575 MW / 1,400 MWh of standalone BESS tenders, as well as a 300 MW RTC (Round-The-Clock) RE + Storage tender issued by NPCL on a pan-India basis.
- EPC: Total of 1,561 MW of solar and wind tenders were issued, alongside 1,615 MW / 4,490 MWh of standalone BESS tenders were issued in EPC category along with 75 MW solar + 7.5 MW / 30 MWh storage tender floated by AMC in Gujarat.
Auction Completed
In September 2026, both tenders awarded under the project development category were for standalone BESS, totaling 2,265 MW / 4,530 MWh.During the month, 2 major tenders were awarded under the Standalone BESS category. MSEDCL’s 2000 MW / 4000 MWh tender was awarded to 11 players, with tariffs ranging from INR 2.38 lakh/MW/month to INR 2.40 lakh/MW/month, while SJVN’s 265 MW/530 MWh tender was awarded to NLC India Renewables Ltd. at a tariff of INR 2.35 lakh/MW/month.
Installed Capacity
In August 2026, about 3445 MW of solar and 383 MW of wind capacity were added in the country, taking the cumulative RE capacity to 295 GW.
State wise Utility scale solar and Wind installed capacity in Aug 2026
In August 2026, Gujarat, Karnataka and Rajasthan were the top three states for utility-scale solar installations, contributing 1078.66 MW, which accounted for 73% of the total 1472.85 MW utility-scale solar capacity added.
Gujarat installed the highest rooftop solar capacity with 628.7 MW, followed by Uttar Pradesh (489.7 MW) and Andhra Pradesh (210.8 MW).
PM SURYA GHAR Yojana Residential Rooftop installed capacity
As of September 2026, the PM Surya Ghar Yojana has achieved an installed residential rooftop capacity of 17,561 MW, covering 59,47,035 households. Uttar Pradesh led residential rooftop solar installations with 234.46 MW capacity, followed by Maharashtra (208.04 MW) and Gujarat (165.6 MW).
Monthly RE Generation
In September 2026, renewable energy sources generated 29411.06 MUs, reflecting a decrease of about 16.57% compared to August 2026.
Monthly VRE Curtailment
In September 2026, VRE curtailment declined by 43.31% compared with August, with a total of 378.52 MUs of renewable energy curtailed, compared with 667.76 MUs in August. During the month, 1.28% of renewable energy generated was curtailed, down from 1.89% in August, representing a 0.61 percentage point improvement.
Key deals/financing trends
In September 2026, a total of about US$ 812.23 million in investments were made in the RE sector in India, led by equity financing of US$ 758.25 million, followed by debt of US$ 47 million, bonds of US$ 5 million and acquisition of US$ 1.98 million.
IEX GDAM Trend
In September 2026, IEX GDAM witnessed a shift from higher traded volumes and lower prices to lower traded volumes and higher prices. IEX recorded 631.08 MUs of GDAM traded volume registering a 35.81% decrease over August 2026 with traded volume decreasing by 352.08 MUs.
Module price trends
On a month-on-month basis, in the domestic market, Non-DCR TOPCon and Mono PERC module prices remained stable in September 2026. DCR TOPCon module prices also remained stable during the month.
Policy and regulations
In this month, 26 central and 37 state-level policies/ notifications/ regulations/ orders were issued.