Government-owned renewable energy agencies floated 10.7 GW of solar tenders in the second quarter of 2024, down 65.2% from 30.7 GW in the previous quarter and 21.6% from 13.6 GW in the same quarter last year. The annual bidding trajectory announced by the Ministry of New and Renewable Energy in April 2023 drove tender activity in the financial year 2023-24 (FY24). The ministry mandated annual bid invitations for 50 GW of renewable energy projects by Solar Energy Corporation of India (SECI), NHPC, NTPC, and SJVN between FY24 and FY28.