Sector Outlook

India Adds Record 34.4 GW of Solar and Wind Capacity in the First Nine Months of 2025

October 13, 2025
JMK Research
Market trends, Policy and Regulations, Sector Outlook

India Adds Record 34.4 GW of Solar and Wind Capacity in the First Nine Months of 2025 India achieved a record milestone in renewable energy installations, adding nearly 34.4 GW of new solar and wind capacity during the first nine months of 2025 (January–September). This represents a remarkable year-on-year growth of over 71.5%. Solar capacity increased by 68.9%, while wind installations experienced an even stronger surge of 88.8% compared to the same period last year. Notably, the total capacity added…

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MNRE Proposes ALMM Extension to Wafers and Ingots

September 18, 2025
JMK Research
Market trends, Policy and Regulations, Sector Outlook

MNRE Proposes ALMM Extension to Wafers and Ingots Reinforcing the announcement by Shri Prahlad Joshi to target PV upstream integration last week, MNRE has released a draft order for the implementation of the Approved List of Models and Manufacturers (ALMM) for wafers and ingots (ALMM List – III). The order specifies that at least three independent wafer/ingot manufacturing units should be operational in India for ALMM List-III to kick in, with a combined minimum annual capacity of 15 GW. MNRE…

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CERC Greenlights Virtual PPAs in India

May 27, 2025
JMK Research
Policy and Regulations, Sector Outlook

CERC Greenlights Virtual PPAs in India To Enhance Indian Power Market Supply-Side Liquidity On May 22, 2025, the Central Electricity Regulatory Commission (CERC) took a major stride in the Indian power sector by issuing the “Draft Guidelines for Virtual Power Purchase Agreement (VPPA) agreements.” These guidelines provide crucial regulatory approval, clarity, and acceptance for an innovative financial structure in the renewable energy sector, which is gaining substantial traction in global power market. A VPPA is a bilateral agreement between a…

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13.75 GW of new module and 6.9 GW of new cell production capacity likely to be added in India in next 18 months

June 24, 2021
JMK Research
Sector Outlook

13.75 GW of new module and 6.9 GW of new cell production capacity likely to be added in India in next 18 months More than 80% of India’s local demand for solar modules have been met through imports from other Asian countries such as China, Vietnam and Malaysia. In CY2020, India imported USD 1,527 million worth of solar cells and modules. The country’s ambitious target of additional 280 GW of solar power installation by 2030 along with its high dependence…

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