Monthly RE Update – April 2025

Monthly RE Update – April 2025

Our Monthly RE Update April 2025 report on RE industry covers:

Monthly RE Update April 2025 – Tenders Issued

• New RFS Issued: About 3455 MW of RE tenders was issued in April 2025 under the project development category.
• UPPCL issued a 2000 MW standalone pumped hydro storage tender.
• EPC : About 2040 MW of EPC tenders were issued in April 2025.
• Bihar State Power Generation Company Limited (BSPGCL) issued a 116 MW solar with 50.5/241 MWh tender.

New RE tenders issued in April 2025

Source: JMK Research

Source: JMK Research

APDCL issued an EOI to set up 357 MW solar projects on agricultural land

• Assam Power Distribution Company (APDCL) has issued an expression of interest (EOI) to install solar projects of cumulative capacity of 357 MW on agricultural land.
• Bidders must submit an earnest money deposit of INR 0.1 million/MW as a bank guarantee.
• The last date for the bid submission is 8th May 2025.

Monthly RE Update April 2025 – Auctions Completed

• In March 2025, a total of about 754 MW of renewable energy (RE) capacity was allocated to various RE developers.
• GUVNL auctioned a wind capacity of 250 MW, allotted to four winners.
• Solar World Energy and HG Infra won a GUVNL’s 500 MW standalone BESS tender in April 2025.
• The lowest tariff was quoted by Solar World Energy – INR 0.28/MW/Month.

Source: JMK Research

Source: JMK Research

 Source: JMK Research

Installed Capacity

• In March 2025, about 3080 MW of Solar and 1449 MW of Wind capacity were added in the country, taking the cumulative RE capacity to 220.09 GW.
• In March 2025, a combined total of 4529 MW of solar and wind capacity was added.

Figure 2.1: RE installations in March 2025

Source: MNRE, JMK Research

Note: Solar includes utility-scale solar, rooftop solar and off-grid/distributed solar segments

State wise utility scale solar and wind installed capacity in February 2025

• In March 2025, Rajasthan added the highest Utility-Scale Solar capacity, about 638 MW, followed by Maharashtra, with 512 MW.
• Maharashtra installed the highest rooftop solar capacity of  159 MW this month, followed by Gujarat with 64 MW.
• Karnataka installed the highest wind installations, with a capacity of about 473 MW, followed by Madhya Pradesh, with 351 MW.

Source: MNRE, JMK Research

Monthly RE Update April 2025 – Projects Commissioned

Source: JMK Research

Key announcements that were made during the month were:

• Evren, a platform launched by Brookfield in India, has entered into a 300 MW power purchase agreement (PPA) with NTPC for supply of firm and dispatchable renewable energy (FDRE). The PPA entails development of close to 1 GW of renewable energy capacity including wind, solar and battery energy storage.
• BluPine Energy has signed a PPA with SECI for a 150 MW solar project backed with energy storage system (ESS) in Rajasthan. The project was won by BluPine Energy through competitive bidding under SECI’s tender to procure 2 GW of power generated from ISTS-connected solar power projects with 1 GW/4 GWh energy storage systems.
• Serentica Renewables has signed a PPA with NTPC Limited for supplying 200 MW of FDRE power to distribution companies in Uttar Pradesh. The energy will be generated through hybrid renewable energy infrastructure, including solar, wind, and battery storage assets located across multiple states. Serentica Renewables secured 200 MW capacity under NTPC’s 3000 MW FDRE ISTS-Connected RE tender. The tender was issued in Oct 2023.
• BrightNight has secured a PPA with NTPC to supply 110 MW AC of FDRE power. BrightNight had won the capacity in NTPC’s 3 GW renewables-plus-storage tender at a competitive price of INR 4.72/kWh. The developer will deliver the power from its 350 MWp solar-wind project with 100 MWh battery energy storage system in Rajasthan, connected to the interstate transmission system, under a 25-year PPA.
• Tata Power Renewable Energy Limited (TPREL) & Tata Motors have signed a PPA to co-develop a 131 MW wind-solar hybrid renewable energy project. This integrated wind-solar hybrid solution will provide a reliable supply of green, cost-effective energy exclusively to Tata Motors’ six manufacturing facilities in Maharashtra and Gujarat.
  • Tata Power has received approval from the Maharashtra Electricity Regulatory Commission (MERC) to deploy a 100 MW Battery Energy Storage System (BESS) in Mumbai over the next two years. The entire system will be distributed across ten strategically chosen sites, primarily located near key load centers within the Mumbai distribution network. The BESS installations will be centrally monitored and managed from Tata Power’s Power System Control Center. Swaraj Tractors partners with Mahindra Susten to develop a 26 MW solar plant for self-consumption.
  • Tata Power Renewable Energy Ltd (TPREL) has secured a PPA with NTPC Ltd, to develop a 200 MW firm and dispatchable renewable energy (FDRE) project. The project is expected to be completed within 24 months. TPREL had won this project through competitive bidding under NTPC’s3000 MW FDRE ISTS-Connected RE Power Projects (Tranche II) tender. The project would consist of solar, wind and battery energy storage system (BESS) components to ensure 4-hour peak power supply, ensuring at least 90% availability during peak demand hours.
• SECI signs Battery Energy Storage Sale Agreement with Kerala State Electricity Board Limited (KSEBL) for 125 MW/500 MWh standalone BESS project. The project was won by JSW Energy at INR 4.41 lacs/MW/month (with VGF) (4 hour, 1 cycle) shared in December 2024. SECI auctioned its 125 MW/500 MWh standalone BESS tender in February 2025, and the power sale agreement was signed in April 2025.
• JSL Super Steel has entered into a partnership with Sunsure Energy to procure 11 MW of solar power for its facilities in Uttar Pradesh. The clean energy will be supplied from Sunsure’s 49 MWp solar project located in Augasi, UP, and is expected to replace approximately 40% of JSL’s conventional energy consumption.
• KPI Green has announced the termination of its order from Sai Bandhan Infinium for a 66.20 MW hybrid power project due to changes in technical requirements following the order placement. The project, intended for captive use by Sai Bandhan Infinium, was originally scheduled for completion by July 2025.
• Hero Future Energies has signed a PPA with SJVN to develop a 120 MW FDRE project. The company secured the project under SJVN’s tender for 1.2 GW of firm and dispatchable power from renewable energy projects integrated with energy storage systems across India, at a tariff of INR 4.25/kWh.
• Sterling & Wilson has secured domestic renewable energy project orders worth approximately INR 1,470 crore, marking its entry into wind EPC through a hybrid project in Rajasthan. The company has received two letters of award from private Independent Power Producers (IPPs). The first is for a wind-solar hybrid project in Rajasthan, covering EPC for a 69.3 MW wind balance of plant (BoP) and a 58 MW AC / 75 MWp DC solar balance of system (BoS). The second project is a 200 MW / 260 MWp solar plant in Gujarat from a leading public sector developer. Additionally, the company secured a third award for a PV plant in Rajasthan from a domestic IPP.
• AMPIN Energy Transition has signed a PPA with medical device manufacturer Poly Medicure for a 10 MWp solar project in Haryana. Under this agreement, AMPIN will supply solar power to Poly Medicure’s five plants in Faridabad from its 75 MWp solar park in Kurungawali Sirsa, Haryana. This will enable Poly Medicure to replace 35% of its conventional power consumption, lower power costs by 30% compared to existing discom rates, and strengthen its sustainability commitment by reducing Scope2 emissions.
• Greenko will soon launch the world’s largest $4.2 billion integrated renewable energy project at Pinnapuram, Andhra Pradesh, combining solar, wind, and pumped hydro storage. The project includes 4 GW of solar power, 1 GW of wind power, and 1.68 GW/10.08 GWh of pumped hydro storage capacity.
• Enerparc Energy is planning to set up a 35 MW solar project in Gujarat to supply clean power to commercial and industrial consumers starting August 2025, generating 58 million units annually. The project is scheduled to be commissioned in August 2025, contributing to a reduction of 41,000 tons of CO₂ emissions annually.
• NTPC Ltd’s renewable energy arm is considering terminating two contracts close to 500 MW awarded to Gensol Engineering for EPC work because there have been delays by the company. It may also cancel a third project that was in the process of being awarded to the Solar EPC company.
• The West Bengal government has launched development projects worth over INR 2,000 crore, focusing on building better infrastructure and promoting clean energy. One major highlight is a commissioning of a new 112.5 MW solar power plant in Goaltore, Midnapore, which is one of the biggest in eastern India. It was built on 430 acres at a cost of INR 750 crore, mostly funded by Germany (about 80%), with the rest coming from the state. This solar plant will increase the region’s use of renewable energy and might grow by another 100 MW in the future. The government said this is part of a larger plan to make West Bengal a leader in green energy, with upcoming projects like a 1,000 MW solar plant in Purulia and a long-term goal to add 3,000 MW of renewable power.
• NHPC will be developing a 1200 MW solar park at Jalaun, Uttar Pradesh at an estimated cost of INR 797 crore. The solar park will be developed by Bundelkhand Saur Urja Ltd (BSUL), a subsidiary of NHPC and a joint venture (JV) with Uttar Pradesh New and Renewable Energy Department Agency (UPNEDA). It is being developed under Mode 8 of the Ministry of New and Renewable Energy scheme named ‘Ultra Mega Renewable Energy Parks’.
• UltraTech Cement has signed an energy supply agreement and shareholders agreement to acquire a 26% stake in AMPIN C&I Power Eight Private Limited. AMPIN C&I Power Eight, based in New Delhi, was incorporated in January to set up a 75 MWp/50 MW (AC) solar power project on a captive basis in Rajasthan.
• Uno Minda is planning to procure 17.85 MWp solar power from Amplus Ampere’s 54.94 MWp captive solar project in Maharashtra. The company approved the investment in the shares of Amplus Ampere for infusing the equity of INR 3.5 million/MW, aggregating to INR 62.5 million. The company said that the indicative time period for completion of the acquisition is Q1 2025-26.
• Godrej Enterprises Group has successfully secured a comprehensive project of 2 MWp solar power plant for a leading FMCG company’s facility in Guwahati, Assam. Recently, the company has also commissioned a 25MW ground-mounted solar project in Dhule, Maharashtra, expected to generate 45 million units annually.
• Kosol Energie has secured a 400 MW PV module supply order from Zetwerk for NTPC’s 1.6 GW Khavda Solar Project in Gujarat. Of the total 400 MW, 55 MW has already been delivered to the site, with the remaining modules scheduled for delivery over the next two to three months.
• Premium Solar, an Australian firm, secured a INR 107.7 crore order from Telangana Renewable Energy Development Corporation (TREDA). The order is part of the PM-KUSUM Component-B program for solar water pumps. Delivery and installation timelines are expected to be completed within the next financial year.
• Suzlon Energy has secured a 378 MW wind energy project from NTPC Green Energy, taking its total awarded capacity from the latter to 1,544 MW.
• Vikram Solar has bagged a 150 MW solar PV module supply contract for a large-scale project being developed in Maharashtra by state owned utility MAHAGENCO. The modules will be delivered to MAHAGENCO in the Jalgaon and Solapur districts of Maharashtra as part of the Mukhyamantri Saur Krushi Vahini Yojana (MSKVY) 2.0 project. Module shipments are scheduled to begin in Q2 FY 2025‑26, with completion targeted within 6 months to align with the project’s commissioning schedule.
• Servotech Renewable Power System has secured order for a 4.1 MW on-grid rooftop solar project from the Waltair Division, East Coast Railway, situated in Visakhapatnam, Andhra Pradesh. The project is valued at INR 15.8 crore. The company will undertake the design, manufacturing, supply, installation, testing, and commissioning of rooftop on-grid Solar PV plants of varying capacities across multiple sites within the waltair division.
• Inox Wind Ltd executed the 990 MW turnkey order out of the 1,500 MW agreement signed across multiple locations in Gujarat, Rajasthan and Madhya Pradesh. The commissioning of the project is expected in phases from FY26 onwards.
• Suzlon Group has secured a 100.8 MW wind power project order from Sunsure Energy. The project will be implemented under an Engineering, Procurement and Construction model in Maharashtra.
• Hindustan Power declared that it has secured a 425 MW solar project from Uttar Pradesh Power Corporation Limited (UPPCL). The letter of award (LOA) was issued by UPPCL following a competitive e reverse auction. UPPCL will buy this power till 25 years, and the project is expected to install within 24 months from the date of signing of PPA.
• Sunflag Iron and Steel, Nagpur based steel manufacturer, is planning to procure power from Sunsire Solarpark Thirty-seven, SPV of Sunsure Energy in Maharashtra. The companies have signed long term PPAs under captive mode. Sunflag has bought 26% share with an investment of INR 57.25 million.
• GameChange Solar has secured 7 GW of order bookings in India during the financial year 2024–25 (FY25), with close to 2 GW of tracker orders finalised in the fourth quarter alone. With this addition, GameChange Solar’s total project portfolio both commissioned and under construction has crossed 13 GW in the Indian market.
• Solar power generation projects with a capacity of 1,359 MW were completed under Mukhyamantri Saur Krishi Vahini Yojana 2.0 (MSKVY 2.0) in the state, due to which 2.14 lakh farmers started getting daytime power supply. About 15,284 MW of solar power generation projects are currently under construction under MSKVY 2.0. With a total planned capacity of 16,000 MW, it stands as the largest decentralized solar power generation project in the world.
• The Madhya Pradesh cabinet has approved the establishment of a 2,000 MW solar park along with a 1,000 MW composite energy storage project in Madhya Pradesh. This initiative aims to supply electricity on a complementary basis to both Madhya Pradesh and Uttar Pradesh, as the peak demand periods of the two states occur at different times of the year.
• Odisha is planning to take up projects for generation of around 1,000 MW floating solar energy from its reservoirs in the near future. The committee has taken steps for finalisation of integrated GIS maps of Hirakud, Rengali and Upper Indravati reservoirs and exploration of suitable sites in Upper Kolab and Balimela for execution of the project.
• A hybrid renewable energy (RE) park with a total capacity of 13 GW is planned across the Pang, Debring, and Kharnak regions in the Union Territory of Ladakh. The park will integrate solar and wind power generation along with a battery energy storage system. Power Grid Corporation of India Ltd (POWERGRID) has been designated as the implementing agency for this project. The transmission line for evacuating the generated power will traverse through Himachal Pradesh and Punjab, eventually reaching Kaithal in Haryana, where it will connect to the national grid.

Monthly RE Generation

• In April 2025, Renewable energy sources generated  21,909 MUs which is about 9.14% higher than the RE generation in March 2025.
• In April 2025, wind energy generation increased significantly by 35% compared to the previous month’s generation data, attributed to the onset of the pre-monsoon season in India, which brings increasing wind speeds, especially in the southern and western regions.

Figure 3.1: Source-wise Renewable Energy Generation (MU) – India

Source: CEA, JMK Research

Monthly RE Update April 2025 – Investments/Deals

In April 2025, a total of about  $1.351 Billion in investments were made in the RE sector in India. The key investments during the month were:

• NexGen Energia secured $1 billion funds from Capital Edge, plans to expand Compressed Biogas (CBG) infrastructure across India.
• ACME Solar Holdings secured ~$291 Million debt from SBI & REC at reduced weighted average interest rate of 8.8%.

Table 4.1: Investment and deal in April 2025

Source: JMK Research 

Other important announcements that were made during the month were:

• Adani Group plans to raise $ 4-5 billion for Khavda and Mundra Projects in Gujarat, through a mixture of debt and equity by Adani Green Energy. The funding is for a 30 GW Solar and wind project in Khavda which will produce 26 GW solar and 4 GW wind energy.
• Prozeal Green Energy files an IPO in India to raise INR 7 billion, with a reference price for transactions of INR 2 per share. The intention is to sell shares worth INR 3.5 billion and fund its long-term working capital expenditure and borrowing repayments.
• Onix Renewable has unveiled plans to invest nearly INR 25,000 crore over the next three years to develop 7 GW of renewable energy capacity, which includes 5 GW dedicated to solar module and cell manufacturing. The company aims to expand its renewable energy portfolio to 10 GW by 2030, with a total projected investment of INR 30,000 crore. Approximately 80% of the planned projects will be focused on solar energy, while the remaining 20% will be allocated to wind energy
• SAEL, a firm that converts agricultural waste into clean energy, is gearing up for a public listing within the next 12 months. SAEL is the world’s only 100% paddy-based biomass waste-to-energy operator and the largest single industrial off-taker of paddy straw globally. IPO will be utilized to scale up SAEL’s operations, with a focus on expanding its cell manufacturing capabilities, Independent Power Producer (IPP) business, and waste-to-energy initiatives.
• Eastman Auto and Power, a Delhi-based power solutions provider, plans to invest up to INR 1,000 crore in capex over the span of next three financial years to boost its overall capacity addition. The company’s focus is going to be the distributed rooftop solar segment. Additionally, the company plans to increase the share of solar business from the current 20% in FY25 to 40% in FY26.
• The BC Jindal Group has unveiled plans to invest INR 15,000 crore by 2030 to establish multi gigawatt-scale manufacturing capacities for solar cells and modules, battery cells and packs, and solar glass. In the first phase, the Group will invest INR 4,000 crore to set up production capacities for 2 GW of solar cells and modules, 4 GWh of battery storage, and 1,200 tonnes per day of solar glass. The Group has shortlisted the states of Maharashtra and Gujarat to set up production facilities for renewable energy equipment. Around 40% of the manufacturing output will likely be consumed internally by the Group’s renewable energy generation projects.
• Continuum Green Energy Limited received the approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO). The company’s IPO will include a fresh issue of equity shares amounting up to INR 1,250 crore, and the offer-for-sale (OFS) component of up to INR 2,400 crore from the firm’s promoters. Continuum Green Energy plans to use the proceeds raised from the IPO to fund its repayment or prepayment, in whole or in part, of certain outstanding borrowings taken by its subsidiaries. This includes the payment of accrued interest on these borrowings, with an investment of INR 1,100 crores in the subsidiaries.
• Telangana has clinched investments worth Rs 29,000 crore from Ecoren Energy India India Private Ltd and GPSR Arya Pvt Ltd under the newly launched Telangana Clean and Green Energy Policy 2025. Ecoren Energy has identified multiple locations for wind and solar power project  worth Rs 27,000 crore in the state that will lead to a reduction of around 400 million tonnes of carbon emissions over 25 years. This includes three large scale renewable energy projects – a 3279MW wind-solar hybrid project at three locations in Sangareddy and Narayanpet districts, a 1650 MWp floating solar project at seven locations in Jayashankar Bhupalpally district and a 650MWp ground mounted solar project at Jogulamba Gadwal district.
• GPSR Arya will be setting up 15 compressed biogas (CBG) projects of 15 tonnes per day capacity each at a total investment of around Rs 2000 crore through its JV with IOC and BPCL.
• Indian Biogas Association (IBA) reported ₹200 crore worth of investment commitments for the biogas sector at RenewX 2025. The investments will primarily support new compressed biogas (CBG) projects and expansion of existing plants. Over 50 projects have been proposed, signaling growing private sector interest in biogas. The initiative is seen as crucial for energy security, rural development, and waste management. IBA emphasized the need for policy support and faster clearances to maintain investment momentum.
• NTPC Green Energy plans to raise up to Rs 5,000 crore via bonds in FY26 to fund renewable energy expansion. The firm targets 19 GW green capacity by 2026-27, with major JV projects in battery storage, wind, and green chemicals. NTPC Green through its joint venture with ONGC Green, named ONGC NTPC Green, aims to set up battery energy storage projects, offshore and onshore wind projects, and green chemical projects. ONGC NTPC Green (ONGPL) has recently completed acquisition of 100% equity stake in Ayana Renewable Power for Rs 6,248.50 crore.
• India’s energy storage sector is projected to expand fivefold between 2026 and 2032 with an estimated investment requirement of INR 4.79 lakh crore, according to India Energy Storage Alliance (IESA). According to the National Electricity Plan, India will require 73.93 GW of energy storage capacity by 2031-32, comprising 26.69 GW from pumped storage plants (PSP) and 47.24 GW from battery energy storage systems (BESS), with a total energy storage capacity 411.4 GWh. The storage capacity requirement by 2026-27 is projected at 16.13 GW, with 82.37 GWh energy storage, comprising 7.45 GW PSP and 8.69 GW BESS. IESA estimates that India’s energy storage market will grow significantly, driven by government initiatives viability gap funding for 13,200 MWh of BESS by 2030-31.
• Indian Oil and GPS Renewables signed an agreement to invest ₹1,200 crore in compressed biogas (CBG) plants across multiple Indian states. The collaboration aims to boost clean energy solutions and contribute to India’s net-zero goals. This investment is expected to develop 10 large scale biogas projects initially. The biogas plants will use agricultural waste and organic materials as feedstock. The initiative supports India’s SATAT (Sustainable Alternative Towards Affordable Transportation) scheme.

Monthly RE Update April 2025 – GDAM Traded Volume

The IEX traded a total volume of about 683 MUs in GDAM in April 2025, 18.5% greater than the previous month.
The average trade price in IEX-GDAM for April 2025 is INR 5.57/kWh.

Figure 5.1: GDAM Traded volume and Price Trend

Source: IEX, JMK Research

Monthly RE Update April 2025 – Module Price Trends

GLOBAL SOLAR MODULES PRICE TRENDS

Comparing on a m-o-m basis, the price of global mono PERC modules has continued to remain the same in April 2025.

Source: PVInfoLink, JMK Research

AVERAGE PRICE TRENDS FOR DOMESTIC MODULES

Comparing on m-o-m basis, the prices for domestic modules has increased in April:

• Mono PERC 500 Wp – INR 17.73/Wp (up by 0.2%).
• Bifacial Modules  – INR 17.82/Wp (up by 0.1%).
• TopCon Modules – INR 18.9/Wp (same as previous month).

Source: PVInfoLink, JMK Research

Note: Domestic module prices are all inclusive prices till project site including freight charges, GST, etc.

Key Market Updates

Solar Manufacturing

Attero enters solar panel recycling MoU with NISE

• Attero and the National Institute of Solar Energy (NISE) have signed a memorandum of understanding for research and development of solar panel recycling technology in India.
• Attero, an end-to-end e-waste and Li-ion recycling solution provider in India, and the National Institute of Solar Energy (NISE), an autonomous institute under the Ministry of New and Renewable Energy (MNRE), Government of India, have joined hands to address the challenge of solar panel waste in India.

Panasonic unveils 585 Wp TOPCon bifacial solar module with 22.66% efficiency

• Panasonic has unveiled a TOPCon bifacial solar module built with 144 half-cut solar cells, based on M10 wafers. The company said the module is apt for ground-mount and commercial and industrial PV installations.
• The glass-to-glass module is available in power range from 570 Wp to 585 Wp, with an efficiency between 22.08% and 22.66%.

Reliance Powers Up Solar Manufacturing with First Line, Eyes 10 GW Capacity

• Reliance Industries commissioned the first phase of its solar PV module manufacturing facility in Jamnagar, Gujarat.
• The initial line has started production, the full capacity will reach 10 GW annually upon completion.
• This facility will integrate manufacturing across the solar supply chain, including cells, wafers, and modules.
• The initiative aligns with Reliance’s broader renewable energy goals under its “New Energy” mission.. It positions Reliance as a major player in India’s solar manufacturing ecosystem, supporting self-reliance.

Acme Group plans to scale manufacturing facility by 2030

• Acme Group is targeting INR 10,000 crore in revenue by 2030 from its solar cell and module manufacturing business, as it broadens its presence beyond renewable energy generation.
• The company ventured into solar module production with an investment of approximately INR 230 crore in a manufacturing facility located in Jaipur, Rajasthan. The plant has an annual production capacity of 1.2 GW.

WorldOne Energies commissions 1.2 GW solar module line

• WorldOne Energies has commissioned a 1.2 GW solar module manufacturing line that will produce its Supreme series n-type TOPCon panels.
• WorldOne Energies plans to ramp up its solar module production capacity to 7 GW by 2027 and 10 GW by 2030, from 1.2 GW at present.  It also plans 2 GW cell facility (scalable up to 5 GW).

Emmvee expands solar module capacity to 6.6 GW

• India’s Emmvee has opened its fifth solar module manufacturing facility in Bengaluru. With this expansion, it has reached a capacity of 6.6 GWp for PV modules and 2.5 GWp for cells.
• Emmvee has inaugurated a 2 GW solar module manufacturing facility at Sulibele, near Bengaluru International Airport, Karnataka.

 Waaree Energies installed India’s largest solar cell factory in Gujarat

• Waaree Energies has announced the commissioning of India’s largest solar cell manufacturing facility in Chikhli, Gujarat, with an investment of INR 2,500 crore. The 5.4 GW facility utilizes advanced TOPCon technology.
• The plant can produce 20 solar cells per second with an efficiency of 25%, reinforcing India’s drive toward energy independence and strengthening Waaree’s position as a leader in solar technology.

ITI Ltd to set up 500 MW solar module manufacturing line at Naini facility

• ITI Ltd has invited bids to set up a 500 MW automatic solar PV module manufacturing line on a turnkey basis at its Naini facility in Prayagraj, Uttar Pradesh.
• The scope of work includes supply, installation, and commissioning, process optimization, and a warranty of two years.
• The solar manufacturing line must be capable of producing modules with a maximum size of 2,500 mm x 1,400 mm, using cells with a maximum size of 210 mm x 210 mm (up to 22 busbars).

Odisha government allocates land to Inox Solar to set up solar manufacturing facility

• The Odisha government has allotted land to Inox Solar to set up a solar cell and module manufacturing facility in the state.
• The proposed plant, with a capacity of 4.8 GW each for solar cells and modules, will contribute to India’s renewable energy targets while driving industrial growth in Odisha.

Solex Energy’s new solar module line is set to commence by October 2025

• Solex Energy is establishing a new 2.2 GW solar module production line, raising its total manufacturing capacity to approximately 4 GW.
• The new line is scheduled for completion by September 2025 and is expected to begin commercial operations in the early third quarter of FY 2025–26.

Premier Energies, Germany’s RENA Technologies collaborates for solar cell innovation

• Premier Energies Ltd has partnered with Germany-based RENA Technologies GmbH on process innovations for n-type solar cells and the development of wet chemistry techniques for next-generation tandem solar cells.
• RENA Technologies, a supplier of wet chemical equipment and process solutions for semiconductor, glass, medical technology, and solar industries, views this partnership as an opportunity to advance in the Indian solar market.

Orb Energy plans to expands its 80 MW module manufacturing capacity to 250 MW

• Currently, Orb Energy has a solar module manufacturing capacity of 80 MW producing Monoperc modules in Karnataka.
• The company plans to expand the capacity to 250 MW in FY2026.

Havells to invest INR 600 crore in Goldi Solar

• Havells India Ltd, has announced signing of binding term sheet to invest INR 600 crore in Surat-based PV module manufacturer Goldi Solar (Goldi).
• Goldi has a solar module manufacturing capacity of 10.7 GW as on March 31, 2025. It plans to add another 4 GW module capacity by July 2025 and domestic cell manufacturing capacity over next 18 months.
• Havells’ investment is part of proposed fund raise by Goldi of up to INR 1,300 crore, which is expected to be completed within next 75 days.

Global solar module shipments hit 703 GW in 2024

• PV module prices last year dropped by 33% compared to the end of 2023.
• The report also reveals that crystalline silicon PV technologies continue to dominate the global market with a share of around 98%, with n-type wafers accounting for a 70% share.
• The report found that G12 wafers may reach a 10% market share, with rectangular M10 formats being able to maintain a 15% participation.

Green Hydrogen

Honeywell launches protonium to boost green hydrogen efficiency

• Honeywell has introduced “Honeywell Protonium,” an AI- and ML-enabled technology suite designed to enhance the efficiency, scalability, and cost-effectiveness of green hydrogen production.
• According to the company, Protonium tackles key challenges in green hydrogen generation, including power intermittency, reducing carbon intensity, and high production costs.

BGR Tech and Chemie Tech sign agreement for multi-megawatt green hydrogen and ammonia projects

• BGR Tech Ltd. has signed a Heads of Agreement (HOA) with Chemie Tech DMCC to collaborate on multi-megawatt Lump Sum Turnkey (LSTK) green hydrogen and ammonia projects globally.
• Under the partnership, BGR Tech will supply green hydrogen generation and purification equipment, including electrolysers, and provide engineering expertise. Chemie Tech will manage project execution from front-end engineering design (FEED) to operations and maintenance (O&M).

INOX Air Products launches green hydrogen plant

• INOX Air Products, India’s largest manufacturer of industrial, electronic, and medical gases, has commissioned its first green hydrogen manufacturing plant at Asahi India Glass Limited’s (AIS) greenfield float glass facility at Soniyana in Chittorgarh, Rajasthan.
• AIS, India’s leading glass manufacturer, has entered into a 20-year off-take agreement with INOX for the supply of green hydrogen to this facility.
• The plant, powered by solar energy, will have a capacity to generate up to 190 tons of green hydrogen per annum through the electrolysis process.

Storage

Adani Green’s subsidiary to deliver 1,250 MW energy storage in Uttar Pradesh

• Adani Hydro Energy Five Ltd., a 100 % subsidiary of AGEL, has executed a power‑purchase agreement with Uttar Pradesh Power Corporation Ltd. (UPPCL) to provide 1,250 MW of pumped hydro energy storage capacity.
• Under the PPA, AGEL will supply the committed capacity for 40 years, ensuring reliable dispatchable energy to meet Uttar Pradesh’s peak‑demand and balancing needs.
• Projects are planned in Sonbhadra district and must be completed within 6 years, aligning with state goals to strengthen grid resilience and integrate renewables.
• The deal reinforces AGEL’s leadership in large‑scale storage, supports UP’s renewable energy targets, and marks one of India’s biggest single state storage procurements to date.

PuREPower Grid launches 5 MWh grid storage product

• PURE, a pioneer in energy storage products and leader in e-mobility 2W, has launched battery-based 5 MWh grid storage product, PuREPower Grid, in Delhi.
• Additionally, PURE is set to invest Rs 400 Crore in the next 18 – 36 months in energy storage products to expand battery and power electronics production, boosting its capacity to 2.5 GWh from the current 250 MWh.
• The company will invest more than INR 100 crore in the storage business expansion will be funded through equity and debt.

Replus to expand its battery manufacturing facility to 6 GWh

• Replus has announced plans to expand its current 1 GWh battery production facility to 6 GWh within the next year. The upgraded facility will integrate next-generation battery technologies to support India’s electric vehicle (EV) and energy storage system (ESS) markets.
• The company stated that the expanded 6 GWh facility will leverage automation, artificial intelligence, and data-driven manufacturing. It will incorporate real-time monitoring, machine vision, robotic systems, automated material handling, and laser welding to enhance efficiency while adopting sustainable practices to reduce its carbon footprint.

THDC India Synchronises First Unit of 1,000 MW Tehri Pumped Storage Project in Pump Condenser Mode

• THDC India Ltd has successfully synchronised the first 250 MW unit of its 1,000 MW pumped storage project (PSP) at Tehri, Uttarakhand, in pump condenser mode, marking a significant step towards commissioning India’s first variable speed PSP.
• The Tehri PSP comprises four units of 250 MW each. The synchronisation of the first unit with the national grid was achieved under the supervision of THDCIL.
• Upon completion, the Tehri hydro power complex will have a total installed capacity of 2,400 MW, including the existing 1,000 MW Tehri Hydro Power Project and 400 MW Koteshwar Hydro Electric Project.
• The pump condenser mode allows the turbine to function both as a generator and a condenser, enhancing operational flexibility and efficiency in power generation and grid stability. THDC India Ltd is a joint venture between NTPC Ltd. and the Government of Uttar Pradesh, with a shareholding ratio of 75:25, respectively.

CEA approves 6 hydro-pumped storage projects of 7.5 GW in 2024-25

• Central Electricity Authority (CEA) has approved 6 hydro-pumped storage projects of about 7.5 GW during 2024-25.
• Additionally, CEA has plans to concur a minimum of 13 PSPs of about 22 GW during 2025-26.
• Most of these PSPs are targeted to be commissioned in 4 years and latest by 2030.

Indexel Engineering secures 50 MWh supply of US developed sodium-ion batteries from Unigrid

• Indexel Engineering, an EPC firm based in Rajasthan, has collaborated with US-based battery innovator Unigrid to bring 50 MWh of advanced sodium-ion battery storage to India.
• The Unigrid battery systems will be deployed across industrial hubs, renewable integration projects, and microgrid applications. The first installations will begin in the second half of 2025, with a focus on Rajasthan, Gujarat, Maharashtra and other western states.
• Unlike lithium-ion, sodium-ion batteries are non-flammable, operate reliably at temperatures between -40°C to 60°C, and utilize abundant raw materials, making them a safer, more cost-effective, and sustainable solution for India’s energy storage needs.

Other Market Updates

Magnelis Steel set to power India’s solar growth with superior performance

• ArcelorMittal Nippon Steel India highlighted Magnelis steel as a game-changer for the solar energy sector.
• Magnelis, with superior corrosion resistance, significantly extends the life of solar structures.
• Its use is expected to reduce maintenance costs and improve reliability of solar projects.
• The material supports India’s renewable targets by enhancing project efficiency and durability.
• The company sees growing demand for high performance materials in the solar sector, given India’s rapid renewable expansion.

Schneider Electric collaborates with Freyr Energy to accelerate adoption of efficient and sustainable solutions

• INOX Air Products, India’s largest manufacturer of industrial, electronic, and medical gases, has commissioned its first green hydrogen manufacturing plant at Asahi India Glass Limited’s (AIS) greenfield float glass facility at Soniyana in Chittorgarh, Rajasthan.
• AIS, India’s leading glass manufacturer, has entered into a 20-year off-take agreement with INOX for the supply of green hydrogen to this facility.
• The plant, powered by solar energy, will have a capacity to generate up to 190 tons of green hydrogen per annum through the electrolysis process.

India’s Steel & Aluminium Industries Offer 20 GW Solar Open Access Opportunity Despite Coal Dependence

• According to the Ember report, India’s steel and aluminum industries present a 20 GW solar open access opportunity despite their reliance on coal. This transition could help these sectors reduce emissions by up to 29 million tonnes of CO₂ annually.
• The steel sector holds the largest share of this opportunity at 9.4 GW, while the cement and aluminum sectors contribute the remaining 11 GW, despite their dependence on captive coal generation

Donald Trump imposes 26% tariff on Indian imports

• President Trump announced reciprocal tariffs affecting over 180 countries, including a 26% tariff in India.
• The tariff of 26% on India is not excessive compared to tariffs on other countries like China, Taiwan, Sri Lanka, and Bangladesh. The market is likely to respond negatively. 

Jindal (India) launches Al-Zn coated steel coils for solar module mounting structures

• Jindal (India) Ltd, part of B.C. Jindal Group and a downstream steel products manufacturer in India, has announced its entry into the renewable energy industry with the launch of its latest Jindalume line of aluminium-zinc (Al-Zn) coated coils designed for solar module mounting structures.
• The combination of aluminum-zinc imparts imparts superior corrosion resistance, structural strength, and extended longevity ensuring sustainability in harsh outdoors suited for solar module structures.
• Jindal (India) has already started supplying its flagship product Jindalume to the solar industry.

Monthly RE Update April 2025 – Policies and Regulations

Monthy RE Update April 2025 – Central Level Regulatory Updates

Monthly RE Update April 2025 – State Level Regulatory Updates