Monthly RE Update – April 2026

Monthly RE Update – April 2026

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    Monthly RE Update March 2026

    Tenders Issued

    • New RFS Issued: Over 2,500 MW of RE tenders were issued under the project development category.
    • SECI has floated a tender to set up 2000 MW of Wind capacity across Pan India locations.
    • EPC : Over 1,750 MW of EPC tenders were also issued in April 2026.
    • NTPC REL has issued an EPC tender for a 900 MW solar project in Madhya Pradesh.

    Auctions Completed

    In April 2026, a total of 500 MW Solar and  1,580 MWh of storage capacity were auctioned across tenders under the project development category, while 1,075 MW Solar capacity was awarded under EPC category.

    PSPCL’s Solar  tender was awarded to SAEL Industries (250 MW) , Waaree Forever Energies (100 MW) , MB Power (100 MW) and  JLTM Energy (subsidiary of Technique Solaire) (50 MW). The discovered tariff ranged from INR 3.05/kWh to INR 3.07/kWh.

    Under the standalone BESS category, two tenders were awarded in this month. TGGENCO’s 375 MW/1500 MWh tender was awarded to Coal India (187.5 MW/750 MWh) and Sarus Infrastructures (187.5 MW/750 MWh), each at a tariff of INR 3.14/kWh while CESC’s  40 MW / 80 MWh BESS tender was awarded to ABCI Infrastructure ( 40 MW/80 MWh), at tariff of INR 3.26/kWh.

    Installed Capacity

    In March 2026, about 6656 MW of Solar and 962 MW of Wind capacity were added in the country, taking the cumulative RE capacity to 274 GW.

    Solar capacity additions doubled compared to February 2026, increasing from 3,003 MW to 6,656 MW, while wind installations more than doubled, rising from 482 MW to 962 MW.

    In FY2026,approximately 44.6 GW of solar capacity and  6 GW of wind capacity were added in India. Solar and wind installations increased by 87.2% and 45.6% respectively, compared to the previous year.

    State wise utility scale solar and wind installed capacity in March 2026

    In March 2026, the top three leading states are Rajasthan, Gujarat, and Tamil Nadu  accounted for ~92% (~4.9 GW) of the total installed utility-scale solar capacity (~5.7 GW).

    Maharashtra installed the highest rooftop solar capacity of  221.1 MW, followed closely by Gujarat (214.7 MW) and Tamil Nadu (196.8 MW).

    Of the ~36.9 MW total capacity installed under the off-grid solar segment, Maharashtra emerged as the leader, contributing the entire addition.

    Gujarat added the highest wind installations with ~445 MW, followed by Karnataka (229.6 MW) and Rajasthan (120 MW).

    Monthly RE Generation

    In April 2026, Renewable energy sources generated 26215.56 MUs, reflecting a increase of about 10.4% compared to March 2026.

    In April 2026 solar generation increased by approximately 4.5% compared to the previous month, while wind generation increased by 32.8% during the same period

    Investments/Deals

    In April 2026, a total of about US$ 1,442.52 million in investments were made in the RE sector in India. The key investments during the month were:

    • Evren secured US $600 million to develop a 1 GW hybrid RE project and signed a PPA with NTPC Limited to supply 300 MW, with commissioning by 2027.
    • Inox Clean Energy has completed the acquisition of Vibrant Energy for about INR 5,000 crore, adding a 1.3 GW renewable portfolio and strengthening its presence in the commercial and industrial (C&I) segment.

    GDAM Traded Volume

    The IEX traded a total volume of about 819 MUs in GDAM in April 2026, slightly increased with levels observed in the previous month.

    The average market clearing price in IEX-GDAM for April 2026 stood at INR 5.69/kWh.

    Module Price Trends

    Global Module Price Trend

    Comparing on a month-on-month basis, the price of global TOPCon modules have increased by 13.8% compared to March 2026. Meanwhile, the prices of M10 TOPCon cells have decreased by around 12.7% compared to March 2026.

    Average Prices for Domestic Modules

    On a month-on-month basis, TOPCon module prices declined by 3%, while Mono PERC module prices also fell by 3% in April.

    • Mono PERC 500 Wp – INR 13.8/Wp
    • TOPCon Modules – INR 14.2/Wp
    • The price for DCR TOPCon Modules was INR 22.3/Wp in April

    Key Market Updates

    Solar Manufacturing

    • Aroma Solar has operationalized a 1.2 GWTOP Con solar module manufacturing plant in Karnal, marking a major step in northern India’s solar manufacturing capacity.
    • Sangam Solar One, wholly owned subsidiary of Waaree Energies, has commissioned 3 GW of solar module manufacturing capacity, significantly scaling its production base. The facility is located at Samakhiali, Gujarat.
    • Premier Energies commissioned a 5.6 GW solar module manufacturing facility at Seetharampur, Telangana, with trial production underway.
    • INA Solar is setting up a 4.5 GW solar cell manufacturing facility.
    • ReNew  will set up a 6 GW solar ingot and wafer manufacturing facility in Andhra Pradesh. The project involves an investment of approximately INR 5,400 crore.
    • Saatvik Green Energy subsidiary secures INR  71.25 Crore Solar PV Module Supply Contract
    • Ganesh Green Bharat has secured a domestic order worth over INR 430 crore to supply 630 Wp TOP Con N-type bifacial solar PV modules.
    • Premier Energies secured 1.6 GW of solar cell and module orders worth INR 25.77 billion (US$ 278.8 million) in Q4  FY2026, to be executed by FY2028.
    • Saatvik Green Energy secured a INR 108.75 crore order to supply solar PV modules from a domestic private power producer.
    • NTPC Renewable Energy (NREL) has issued a tender for the supply of solar PV modules for 1 GW  projects located in Lalitpur and Chitrakoot, Uttar Pradesh.

    Rooftop Solar

    • Rajasthan achieves 4,000 MW solar capacity under PM-KUSUM, powers 2.62 lakh farmers
    • Andhra Pradesh speeds up rooftop solar rollout under PM Surya Ghar Scheme
    • Uttar Pradesh leads India in rooftop solar growth under PM Surya Ghar Scheme
    • North Central Railway generates 133L units of solar energy

    Green Hydrogen

    • MAHAGENCO floats Consultancy Tender for Green Hydrogen & Ammonia project at Uran
    • InSolare–SCC Sign 10-year Green Ammonia Supply deals with SECI
    • Jakson Green consortium signs 85,000 MTPA green ammonia supply pact with SECI
    • GH2 solar signs MoU with Mormugao port authority for green hydrogen hub development

    Energy Storage

    • Fest group enters BESS segment, sets up 3  GWh manufacturing capacity
    • ANDRITZ bags equipment order for 3 GW  PSP in Maharashtra
    • ACME Solar crosses 2 GWh BESS Capacity in  Rajasthan, targets 10 GWh by 2027
    • GH2 Solar to develop 100 MW solar project with BESS in Rajasthan
    • Adani Green to invest INR 15,000 crore in  FY27 to add 10 GWh battery storage capacity

    Other Market Updates

    • Cosmic PV Power and Gujarat Victory Forgings files Draft Red Herring Prospectuses (DRHPs) with SEBI for IPOs.
    • Atria Group launches Agrivoltaic Solar Project in Chittoor
    • Maharashtra Cabinet approves MSEDCL split, IPO plan and INR 32,679 crore debt restructuring
    • SECI invites bank loan bids for 700 MW Gujarat solar project
    • India’s renewable energy agreement value jumps five times to $2 Billion in 2025
    • REC Limited posts INR 16,282 crore net profit in FY26

    Policies and Regulations

    Central Policies and Regulations

    State Policies and Regulations

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