Monthly RE Update – August 2025

Monthly RE Update – August 2025

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

Monthly RE Update August 2025 – Tenders Issued

• New RfS Issued: Over 5,750 MW of RE tenders were issued in August 2025 under the project development category.
• Andhra Pradesh Transmission Corporation Limited (APTRANSCO) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) have invited tenders for 1,000 MW/2,000 MWh and 500 MW/2,000 MWh standalone Battery Energy Storage Systems (BESS) respectively.
• EPC: Over 2,200 MW of EPC tenders were issued in August 2025.
• SECI has invited bids for a 600 MW/1200 MWh Standalone BESS EPC project in Andhra Pradesh.

Auctions Completed

• In August 2025, a total of about 250 MW of firm and dispatchable renewable capacity and 275 MW/800 MWh of BESS capacity were allocated to various RE developers.
• TPDDL’s 250 MW FDRE tender saw all winning bids settling at a competitive tariff band of INR 4.76-4.77/kWh, reflecting aggressive market participation. TPREL (80 MW), Juniper Green (70 MW), ACME Solar (50 MW) and Navayuga Engineering (50 MW) emerged as winners.
• KPTCL’s 150 MW/300 MWh Standalone BESS tender (2-hour discharge) in Karnataka was won by Prostarm Info Systems at INR 2.54 lakh/MW/month under a 12-year BOO model.
• NHPC’s 125 MW/500 MWh Standalone BESS tender (4-hour discharge) cleared at INR 4.34–4.57 lakh/MW/month, awarded to NTPC Green (80 MW/320 MWh across two lots), TPREL (30 MW/120 MWh), and Opera Energy (15 MW/60 MWh).
• SECI conducted a series of SIGHT (Mode-2A) green-ammonia e-reverse auctions in August 2025, awarding 13 lots totalling 724,000 TPA across fertilizer/industrial plants nationwide.
• Discovered tariffs ranged from INR 49.75 to 64.74/kg, with a volume-weighted average of INR 53.27/kg. 9 of 13 lots cleared below INR 55/kg.

Installed Capacity

• From January to July 2025, about 21,151 MW of Solar and 3,976 MW of Wind capacity were added in the country, taking the cumulative RE capacity to ~237.5 GW.
• In July 2025, a total of 3,234 MW of solar and wind capacity was added a 44% decrease compared to the previous month.

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

• In July 2025, Maharashtra added the highest Utility-Scale Solar capacity amounting to about 597 MW, followed by Rajasthan (269 MW), and Gujarat (254 MW).
• Gujarat installed the highest rooftop solar capacity of 199 MW this month, followed by Telangana with 160 MW and Maharashtra with 150 MW.
• In terms of off-grid solar capacity, Haryana installed the highest capacity with 21 MW,
• Gujarat installed the highest wind installations, with a capacity addition of about 265 MW, followed by Madhya Pradesh, with about 83 MW addition.

Monthly RE Generation

• In August 2025, Renewable energy sources generated 25,133 MUs which is about 7.9% lower than the RE generation in July 2025.
• In August 2025, wind energy generation decreased by about 22% compared to the previous month’s generation data whereas solar energy generation increased by 8.1% on a month-on-month basis.

Investments/Deals

• In August 2025, a total of about US$1,235 Million in investments were made in the RE sector in India. The key investments during the month were:
• Acme Hybrid Urja, a wholly owned subsidiary of ACME Solar, has secured a long-term project financing of INR 3,184 crore from state-run REC Ltd for its 280 MW firm and dispatchable renewable energy project.
• Juniper Green Energy has secured INR 1,739 crore in debt financing from Indian Renewable Energy Development Agency (IREDA) to support the growth and development of the company and its subsidiaries.

GDAM Traded Volume

• The IEX traded a total volume of about 902 MUs in GDAM in August 2025, about 9.5% lower than the previous month.
• The average market clearing price in IEX-GDAM for August 2025 is INR 4.37/kWh.

Module Price Trends

Global Module Price Trend

Comparing on a month-on-month basis, the price of global TOPCon modules remained largely unchanged. Meanwhile, the prices have fallen by almost 20%, compared on year-on-year basis.

Average Prices for Domestic Modules

Comparing on m-o-m basis, the prices for domestic modules in August are:

• Mono PERC 500 Wp – INR 18.24/Wp (up by 1.8%).
• Bifacial Modules – INR 18.46/Wp (up by 2%).
• TopCon Modules – INR 19.5/Wp (up by 2%)

Key Market Updates

Solar Manufacturing

• Jupiter International to set up solar manufacturing plant in Maharashtra
• Jakson Engineers to invest INR 8,000 crore into 6 GW solar manufacturing in Madhya Pradesh
• Vikram Solar bags 250 MW order from Bondada group for Maharashtra solar project
• ADM Solar supplies 30 MW Bifacial Modules for PM-KUSUM-C Project in Gujarat
• Premier Energies starts commercial operations at INR 642 crore solar cell line
• Insolation Green commence operations at new 3 GW PV module factory in Rajasthan
• Alpex Solar to set up 1.2 GW solar module manufacturing facility in Uttar Pradesh
• Vikram Solar accelerates expansion in Tamil Nadu, limit growths in Bengal

Rooftop Solar

• Maharashtra crosses 1,000 MW rooftop solar installation milestone
• Rooftop installations to 16.51 lakh households provided under PM Surya Ghar Scheme
• Redington & Websol launch ready-to-install residential solar kits
• Servotech wins 7.3 MW on-grid rooftop solar project from Northwestern Railway Japiur Division

Green Hydrogen

• L&T inks JV with ITOCHU Corporation to develop 300 KTPA green ammonia project\
• Thermax ties up with Norway’s HydrogenPro to indigenise alkaline electrolysers for green hydrogen projects
• Greenzo Energy wins R&D order from Engineers India for Modular Hydrogen Electrolyser
• Hygenco commissions Green Hydrogen and Green Oxygen plant in Maharashtra

Storage

• Sunsure Energy and NVVN sign 15-year BEDPA for power supply to UPPCL
• India set to add 30 GW of storage by 2027
• Prostarm Info Systems to establish 1.2 GWh BESS manufacturing facility in Haryana

Other Market Updates

• India becomes 3rd largest solar energy generator, surpassing Japan
• JSW Energy reports 78% YoY rise in revenue in Q1 FY 2026
• Torrent Power saw a 12% YoY decrease in the revenue
• Oswal Pumps secured order worth INR 442 crore from Maharashtra State Electricity Distribution Company
• Renewable projects worth INR 65,000 crore remain stalled due to transmission delays in Rajasthan
• IREDA and MNRE sign MoU, set INR 8,200 crore FY26 revenue goal
• Shakti Pumps bags order to supply 34,720 off-grid DC solar PV pumping systems from MSEDCL

Policies and Regulations

Central Policies and Regulations

• CERC introduces (Connectivity and General Network Access to the inter-State Transmission System) (Third Amendment) Regulations, 2025
• Supreme Court upholds CERC’s right to encash Saisudhir Energy’s bank guarantee
• Government mandates CEA concurrence for Hydroelectric Projects exceeding INR 3,000 crore in capital investment
• MNRE issues second call for green hydrogen testing infrastructure proposals
• MNRE issues guidelines for series approval of solar PV modules under QCO, 2025
• MNRE issues clarification on ALMM List-II mandate
• Ministry of Power clarifies RGO rules for Thermal Power Plants
• MNRE issues revised guidelines for pilot projects for Green Hydrogen in residential and commercial applications
• Ministry of Power releases draft Energy Conservation Rules 2025
• Ministry of Power amends operational guidelines for Viability Gap Funding Scheme Tranche II for BESS
• Government revokes uniform tariff mechanism for renewable energy projects
• MNRE amends the procedure for inclusion of wind turbine model in Revised List of Models and Manufacturers of Wind Turbines
• PM Surya Ghar: Ground-mounted elevated structure allowed only in Capex mode
• MNRE publishes first version of ALMM List-II for solar PV Cells

State Policies and Regulations

• Bihar introduces draft terms and conditions for tariff determination from renewable energy sources
• Telangana Electricity Regulatory Commission issues rooftop solar regulations 2025
• MSEDCL issues metering guidelines for LT and HT consumers
• MPERC approves INR 2.49/kWh for 232 MW of feeder-level solar projects under PM-KUSUM
• PSERC cuts tariff for DEE development’s 8 MW Abohar Biomass plant
• WBERC sets feed-in tariffs for net billing and gross metering
• Andhra Pradesh proposes virtual and group net metering for rooftop solar
• GERC sets progressive renewable purchase and storage targets for Gujarat
• West Bengal issues grid-interactive rooftop solar PV regulations, 2025
• Arunachal Pradesh sets 43% renewable purchase obligation target by FY 2030
• HERC approves INR 1.21/kWh additional surcharge on open access consumers
• HERC orders Refund of Banked Solar Units Under Open Access Regulations in Haryana
• Haryana issues draft amendment to rooftop solar rules
• UPERC approved 1,280 MW FDRE power sale agreement between UPPCL and NHPC
• KSERC approves tariff for 500 MWh BESS project
• CSERC has issued draft Renewable Purchase Obligation (RPO) and REC Framework implementation (Second Amendment) Regulations 2025