Monthly RE Update – September 2025
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Our Monthly RE Update September 2025 report on RE industry covers:
Monthly RE Update September 2025 – Tenders Issued
- New RfS Issued: Over 3,600 MW of RE tenders were issued in September 2025 under the project development category.
- Deendayal Port Authority (DPA) has invited bids for 1000 MW solar project in Gujarat, while SJVN has invited bids for a 600 MW ISTS-connected wind project.
- EPC: Over 3,000 MW of EPC tenders were issued in September 2025.
- Coal India Limited (CIL) has issued an EPC tender for developing 3,000 MW of solar projects spread across Andhra Pradesh, Tamil Nadu, Karnataka, Rajasthan, and Madhya Pradesh.
Auctions Completed
- RUMSL’s 600 MW Solar + BESS auction in Madhya Pradesh was awarded in September 2025, with ACME Solar Holdings (300 MW) and Ceigall India (300 MW) emerging as winners.
- The discovered tariffs were INR 2.70–2.76/kWh, marking one of the lowest for dispatchable renewable energy in India.
- The winners are required to develop two units of up to 300 MW each with integrated BESS, ensuring 220 MW supply in any time block and 440 MWh during peak hours. The 9-hour peak supply obligation is split into a 4-hour morning peak and a 5-hour evening peak, guaranteeing reliable dispatch.
Installed Capacity
- From January to August 2025, about 25,264 MW of Solar and 4,517 MW of Wind capacity were added in the country, taking the cumulative RE capacity to ~242.6 GW.
- In August 2025, a total of 4,654 MW of solar and wind capacity was added—about 30.5% increase compared to the previous month.
State wise utility scale solar and wind installed capacity in August 2025
- In August 2025, Maharashtra added the highest Utility-Scale Solar capacity amounting to about 1317 MW, followed by Rajasthan (782.5 MW), and Gujarat (645 MW).
- Maharashtra installed the highest rooftop solar capacity of 341 MW this month, followed by Andhra Pradesh with 206 MW and Kerala with 70 MW.
- Madhya Pradesh installed the highest wind installations, with a capacity addition of about 157 MW, followed by Gujarat, with about 154 MW addition.
Monthly RE Generation
- In September 2025, Renewable energy sources generated 23,686 MUs which is about 5.7% lower than the RE generation in August 2025.
- In September 2025, wind energy generation decreased by about 13% compared to the previous month’s generation data whereas solar energy generation increased by a marginal 0.1% on a month-on-month basis.
Investments/Deals
- In September 2025, a total of about US$ 2,245 Million in investments were made in the RE sector in India. The key investments during the month were:
- Acme Venus Urja Ltd., a wholly owned subsidiary of ACME Solar, has secured a long-term project financing of INR 3,892 crore from state-run REC Ltd for its 280 MW firm and dispatchable renewable energy project.
- Statkraft has exited its India portfolio with two major deals; selling 1.5 GW of solar assets in Rajasthan to Serentica Renewables for US$ 220 million and its 150 MW Tidong hydropower project to JSW Neo Energy for US$ 196.7 million.
GDAM Traded Volume
- The IEX traded a total volume of about 994 MUs in GDAM in September 2025, about 10.1% higher than the previous month.
- The average market clearing price in IEX-GDAM for September 2025 is INR 4.04/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 September remained at similar levels compared to previous month:
- 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
- Websol expands solar cell production, adding 600 MW cell line in West Bengal
- PIXON increases solar module capacity by 800 MW, nearing 2 GW total capacity
- CESC commits INR 5,000 crore for solar modules, cells and other RE facilities
- RP Sanjiv Goenka Group to establish 3 GW Solar Cell manufacturing facility in Uttar Pradesh
- Joint Solar to set up 300 MW solar plant in Ghaziabad, plans North India expansion
- Japan’s Hosoda Holdings to establish a solar manufacturing facility in Karnataka
- IB Solar announces INR 3,000 crore investment to set up a 4 GW solar cell manufacturing plant
- Gautam Solar to invest INR 4,000 crore in 5 GW solar cell plant in Madhya Pradesh
- Shweta Solar to launch 1.2 GW solar module manufacturing plant in NCR
- RenewSys bags 370 MW solar panel encapsulants supply deal with Pahal Solar
- Vikram Solar wins 336 MW module supply order from L&T for Khavda, Gujarat
Rooftop Solar
- Odisha sets sight on 7-Year CMC with resilient rooftop solar for government buildings
- Servotech wins INR 13 crore contract for 3 MW rooftop solar project
- Odisha Discoms launched 1 kW rooftop solar scheme under ULA model
Green Hydrogen
- NTPC Green Energy seeks developers for green chemical projects at India’s first hydrogen hub
- ACME and IHI move forward with India’s largest green ammonia project in Odisha
- Indian Govt. launches INR 100 crore green hydrogen innovation scheme
- NTPC Green Energy signs MoU with VOC Port Authority to establish green hydrogen fuel station
- KP Group, AHES, and GH2 Solar to build India’s first 100,000 TPA green ammonia plant
- GST on electrolysers reduced from 18% to 5% to lower green hydrogen costs
- Greenzo Energy bags order from Jindal Stainless for green hydrogen plant in Odisha
- NLC India advances 4 MW green hydrogen pilot with electrolyser procurement
Energy Storage
- Waaree Energies’ Subsidiary to Launch Lithium-Ion Battery Cell Plant
- Ashok Leyland Partners with CALB to manufacture batteries in India
- GIZ, TERI, and GUVNL collaborate to boost renewable energy integration with advanced energy storage solutions
- ACME Solar orders 2 GWh of battery energy storage systems via POSCO International
- Prozeal Green inks deal with Starcharge for 1 GWh BESS procurement
Other Market Updates
- Tamil Nadu sets sights on establishing a South Asian Renewable Energy Corridor
- TPREL Partners with Bank of Baroda to promote clean energy uptake among MSME and C&I clients
- Kshema Power secures INR 108 crore project to develop a 400 kV transmission line in Andhra Pradesh
- India initiates anti-dumping probe into imports of solar encapsulants
- Power Grid secures bid for 4.5 GW renewable energy transmission project
- Central government approves 5 projects under new geothermal energy policy
- MNRE allocates INR 1.4 billion supplementary budget to National Bioenergy Programme
- IEX contests CERC directive on market coupling
- India revokes grid access for 17 GW of delayed renewable energy projects
Monthly RE Update – September 2025 – Policies and Regulations
Central Policies and Regulations
- 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
- India Issues Final Findings on Anti-Dumping Probe into Solar Cell Imports from China
- MNRE clarifies ALMM List-II rules for solar PV cell compliance
- Government issues new rules to expand ownership and utilization of energy storage systems
- CERC issues draft amendment to REC Regulations, 2025
- Central Government grants two additional years for commissioning projects under the solar PLI scheme
- MNRE issues clarifications on waste-to energy guidelines
- APTEL upholds CERC decision rejecting high tariff for 500 MW BESS Project at Fatehgarh III
- MNRE proposes extending the Approved List of Models and Manufacturers (ALMM) to include solar wafers starting June 1, 2028
- CERC proposes a phased rollout of a schedule-based deviation mechanism for wind and solar projects starting April 2026
- CERC dismisses SECI’s tariff request for Chhattisgarh Solar + BESS Project
- CERC introduces (Connectivity and General Network Access to the inter-State Transmission System) (Third Amendment) Regulations, 2025
- APTEL sets aside additional surcharge on open access in Rajasthan
State Policies and Regulations
- GERC directs discom to refund unlawfully levied banking charges
- Rajasthan introduces draft procedure for grant of Green Energy Open Access (2025)
- Assam proposes amendments to 2024 open access regulations to promote green Energy
- Uttarakhand introduces Draft Renewable Energy Regulations 2025
- GERC grants 361-day commissioning relief to Shivman’s Hybrid Project
KERC reduces BESCOM’s outstanding dues to a solar project
- Gujarat imposes an additional surcharge of INR 1 for open-access electricity consumers
- Tamil Nadu unveils Green Energy Open Access Regulations, 2025
- Odisha notifies Pumped Storage Policy 2025
- GERC rejects extension request for 3.948 MW solar project in Gujarat
- MERC clears MSEDCL’s plan to procure 1,475 MW of solar power from NHPC
- Andhra Pradesh issued Battery Energy Storage Systems (BESS) Regulation, 2025
- MERC clears MSEDCL’s proposal to procure wind-solar hybrid power from NTPC
- Haryana Electricity Regulator clears 15 MW solar power procurement
- UERC rejects UPCL’s petition, reaffirming the existing tariff order and regulatory principles in Uttarakhand
- Punjab Electricity Regulator dismisses PSPCL’s review plea on 1,450 MW solar Procurement
- UPERC clears procurement of 375 MW/ 1500 MWh standalone BESS for UPPCL with VGF support
- GERC sets Green Energy Banking charge at INR 1.50 per unit in Gujarat, effective until March 2026