New Delhi, Nov. 23 -- This latest setback also comes in the backdrop of union power ministry directing the SECI, NTPC Ltd, NHPC Ltd, and SJVN Ltd to cancel the awarded contracts by the end of this month wherein it's not feasible to sign power purchase agreements (PPAs) and PSAs, as reported by Mint earlier.

Many discoms have chosen to wait for lower tariffs rather than sign PSAs straightaway, holding up the whole process.

Rating agency Icra said on Thursday that only 5.8 GW of renewable capacity has been awarded in the first eight months of FY26. India awarded 47.3 GW in FY24 and 40.6 GW in FY25. Unsigned PPA capacity remains at about 40-45 GW as of date, according to Icra.

The 630 MW bid was called by SECI to initially meet the season...