Monthly RE Update – October 2025
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Our Monthly RE Update October 2025 report on RE industry covers:
Monthly RE Update October 2025 – Tenders Issued
- New RfS Issued: Over 2,330 MW of RE tenders were issued in October 2025 under the project development category.
- SECI has invited bids for a 1,200 MW / 4,800 MWh peak power supply tender, comprising firm and dispatchable renewable energy from ISTS-connected RE projects with co-located storage systems
- EPC: Over 600 MW of EPC tenders were issued in October 2025.
- Bridge & Roof Company (India) Ltd. has issued a tender for a 600 MW ISTS-connected solar PV project located in the Khavda Renewable Energy Park.
Auctions Completed
In October 2025, a total of about 3,600 MW of RE capacity and 6,000 MWh of energy storage capacity was allocated to various RE developers.
SECI’s 2,000 MW with 1,000 MW/4,000 MWh Solar + BESS auction was awarded in October 2025, with Shivalaya Constructions (600 MW), SAEL Industries (300 MW) and Purvah Green (300 MW) emerging as the winners with highest awarded capacities. The discovered tariffs were INR 2.86–2.87/kWh.
SJVN’s 6000 MWh Peak Power Supply tender was awarded to Reliance NU Energies (750 MW), ACME Solar Holdings (450 MW), Sembcorp Green (150 MW) and Solarcraft Power (150 MW) with tariffs ranging between INR 6.74-6.75/kWh.
In October 2025, RVUNL awarded its 1,000 MW/2,000 MWh standalone BESS tender in Rajasthan. The project saw competitive tariff discovery around INR 1.775–1.785 per MW per month. Major winners included Stockwell Solar (200 MW),and Oswal Cables (100 MW), among others.
In addition, SECI’s 600 MW/1,200 MWh standalone BESS (EPC) tender in Andhra Pradesh was awarded to InSolare Energy for the full capacity of 600 MW/1,200 MWh.
MPJN’s 100 MW utility-scale solar tender in Madhya Pradesh was allotted to DBL-AMPL, which quoted a tariff of INR 2.09 per kWh.
Installed Capacity
From January to September 2025, about 29,466 MW of Solar and 4,959 MW of Wind capacity were added in the country, taking the cumulative RE capacity to ~247.3 GW.
In September 2025, a total of 4,647 MW of solar and wind capacity was added, which is nearly similar to the capacity addition in the previous month.
State wise utility scale solar and wind installed capacity in September 2025
In September 2025, Rajasthan added the highest Utility-Scale Solar capacity amounting to about 1360 MW, followed by Maharashtra (541.3 MW), and Karnataka (466.8 MW).
Uttar Pradesh installed the highest rooftop solar capacity of 243.6 MW this month, followed by Gujarat with 176.2 MW and Kerala with 110.3 MW.
Karnataka installed the highest wind installations, with a capacity addition of about 208.8 MW, followed by Gujarat, with about 138.2 MW addition.
Monthly RE Generation
In October 2025, Renewable energy sources generated 18,912 MUs which is about 20% lower than the RE generation in September 2025.
In October 2025, wind energy generation decreased by about 42% compared to the previous month’s generation data whereas solar energy generation decreased by a marginal 0.3% on a month-on-month basis.
Investments/Deals
In October 2025, a total of about US$ 1,220 Million in investments were made in the RE sector in India. The key investments during the month were:
Hero Future Energies has secured a long-term project financing of INR 1,908 crore from State Bank of India and Canara Bank for its 120 MW wind-solar-storage hybrid project in Kurnool, Andhra Pradesh.
Goldi Solar has raised over INR 1,400 crore in a funding-round led by Havells India Ltd. Besides Havells, the funds are earmarked for expansion of Goldi Solar’s manufacturing capacity and backward integration.
GDAM Traded Volume
The IEX traded a total volume of about 1,016 MUs in GDAM in October 2025, about 2.2% higher than the previous month.
The average market clearing price in IEX-GDAM for October 2025 is INR 3.27/kWh.
Module Price Trends
Global Module Price Trend
Comparing on a month-on-month basis, the price of global TOPCon modules remained largely unchanged in October 2025. Meanwhile, the prices have fallen by almost 16%, compared on year-on-year basis.
Average Prices for Domestic Modules
Comparing on m-o-m basis, the prices for domestic modules in October are:
- Mono PERC 500 Wp – INR 18.24/Wp
- Bifacial Modules – INR 18.5/Wp
- TopCon Modules – INR 19.5/Wp
Key Market Updates
Solar Manufacturing
- Waaree Energies has commissioned a 950 MW solar module manufacturing plant in Gujarat
- RPSG Solvanta commissions 4 GW solar module manufacturing facility in Noida
- Axitec Energy India receives Co-ALMM approval for 150 MWp/year Bifacial N Type TOPCon modules
- En-Icon Solar receives Odisha govt. approval for 2 GW solar cell manufacturing plant
- China’s LONGi Green inks INR 7,000 crore deal with Inox Solar for 5 GW module supply
- Saatvik Green bags INR 707 crore module supply order
- Joint Solar secures INR 13 crore order for PV modules
- Waaree Energies secures 692 MW solar module supply orders in India and the US
- Vikram Solar bags 148.9 MW PV module order from Sunsure Energy
Rooftop Solar
- Maharashtra launches SMART rooftop scheme offering up to 95% solar subsidy
- KSEB waives rooftop solar charges under PM Surya Ghar Scheme
- Crompton Greaves secures INR 445 Crore contract to solarize over 40,000 homes in Andhra Pradesh
- Cyberpark Kozhikode installs 300 kW rooftop project to power IT campus
Green Hydrogen
- KP Group inks a major MoU with South Korea’s Jeonbuk Province to collaborate on green hydrogen development
- NTPC plans to invest INR 1.85 lakh crore in developing green hydrogen projects across India
Energy Storage
- Kerela EMC invites EoIs for Intelligent Behind-the-meter BESS deployment
- Rajasthan Government to establish a 2,000 MWh battery energy storage facility to support solar power generation in Rajasthan
Other Market Updates
- India initiates anti-dumping probe into imports of solar encapsulants
- Elan Energy bags PMC contract for 16 CBG projects from BPCL
- Tanfac Industries expands solar-grade DHF plant capacity to 10,000 TPA
- KPI Green Energy has obtained a Category A power trading license from the GERC
- Central government set to extend PM KUSUM deadlines
- SAEL Industries to convert 2 million tonnes of paddy stubble into clean electricity
- India Adds Record 34.4 GW of Solar and Wind Capacity in the First Nine Months of 2025
Policies and Regulations
Central Policies and Regulations
- MNRE issues Standard Operating Procedure for listing wind turbines components under ALMM
- CERC proposes buy-out price of INR 245 per MWh for fulfilling RCO obligations
- MNRE releases clarification on Quality Control Order for Solar Energy Storage Batteries under QCO 2025
- CERC adopts transmission charge for 3 GW RE evacuation project in Gujarat
- MNRE releases importer manual for Renewable Energy Equipment Import Monitoring System (REEIMS)
- MNRE updates ALMM-1 list, taking the total to 116.5 GW
- Government of India notifies first emission intensity targets for carbon intensive sectors
- DGFT mandates registration and end-use declaration for solar cell & module Imports
- Government Proposes Cost-Reflective Electricity Tariffs in Draft Amendment Bill
- CEA proposes upgrades to power sector infrastructure and cybersecurity standards
- MNRE Issues Guidelines for CFA Disbursement under Utility-Led PM Surya Ghar Projects
- CERC Review Ensures Grid Stability Amid Rising Power Demand and Solar Variability in October 2024
- MNRE streamlines approval process for waste-to-energy projects
- MNRE seeks cancellation of solar tenders that circumvented ALMM mandate for cells
- CERC approves tariffs for 2 GW solar with 4 GWh storage auction by SECI
- CERC admits solar developers’ petition seeking compensation for curtailment
- CERC examines license application for 3 GW renewable energy transmission project at Raghanesda, Gujarat
- MNRE releases draft guidelines for Testing and Series Approval of Storage Batteries
- APTEL upholds wind developers’ claim for compensation under deemed generation
- CERC has issued an amendment to the Connectivity and General Network Access (GNA) Regulations, 2025
State Policies and Regulations
- Rajasthan Regulator issues draft rules for battery storage deployment and use
- UPERC notifies comprehensive framework for Captive and Renewable Energy Projects
- GERC sides with GUVNL, cancels Gensol’s Battery Storage Project
- PSERC approves ISTS waiver extension for NHPC’s delayed solar projects
- Tamil Nadu approves 34.75 MW Wind Solar Hybrid project aspart of repowering Initiative
- Gujarat retains banking charges at INR 1.5 per kWh for open access consumers
- Rajasthan’s RRECL revokes land-reservation rule for wind & hybrid projects
- MERC imposes INR 1 lakh penalty on MSEDCL for failure to implement Virtual Net-Metering
- CSERC sides with Biomass Developers, guarantees complete refund of electricity duties
- RERC introduces virtual and group net metering to expand solar access across Rajasthan
- MPERC drops RPO cases after Centre’s new framework merger
- Uttarakhand sets additional surcharge of INR 1.09/kWh for open access consumers
- RERC Approves Parallel Operation Charges for Captive Power Users in Rajasthan Applicable from FY 2025–26
- Bihar drafts Green Hydrogen Policy, targeting 0.25 MTPA production by 2030
- Assam withdraws its flagship clean energy policy, 2025
- Maharashtra cabinet approves tax hike on electricity sales to support PM-KUSUM
- Telangana sets additional surcharge as zero for Open-Access users in H2 FY26
- Tamil Nadu sets Renewable Purchase & Consumption Target at 43.33% by FY 2030
- MPERC permits bidders to account for GST variations in solar park auctions
- AERC simplifies renewable energy access through new 2025 Open Access Regulations in Assam
- Kerala upholds fixed charges for home rooftop solar users (Prosumers)
- CSERC orders proper adjustment of prosumers’ surplus solar power under the updated Time of Day tariff structure in Chhattisgarh