Top Solar Energy Companies in India | IBEF

India's installed renewable energy capacity is expected to increase to about 170 GW by March 2025 from the level of 135 GW as of December 2023

Advantage India

Robust
Demand

*Ministry of New and Renewable Energy targets 500 GW non-fossil-based electricity generation by 2030, as per the Prime Minister's COP26 announcement, with an added installation of 13.5 GW renewable energy capacity in 2023, corresponding to an investment of around Rs. 74,000 crores (US$ 8.90 billion).

*Power generation from renewable energy sources (excluding large hydro) stood at 283.62 billion units (BU) during April 2025–February 2026, increasing from 230.87 BU in the same period of the previous year, reflecting a strong year-on-year growth of 22.85%.

Increasing
Investments

*The Union Budget 2026-27 significantly strengthens India’s renewable energy push, with the Ministry of New and Renewable Energy (MNRE) allocation reaching Rs. 44,614.67 crore (US$ 5.05 billion), reflecting a 40.52% increase over 2025-26 Budget Estimates of Rs. 31,749.38 crore (US$ 3.75 billion).

*Indian conglomerates plan to invest Rs. 67,42,400 crore (US$ 800 billion) in green hydrogen, clean energy, semiconductors, and EVs by 2034.

Policy
Support

*The Ministry of Power has released the Draft National Electricity Policy (NEP) 2026 for stakeholder consultation, aimed at transforming India’s power sector in line with the vision of Viksit Bharat @2047. The policy targets an increase in per capita electricity consumption to 2,000 kWh by 2030 and over 4,000 kWh by 2047, while aligning with India’s climate commitments and net-zero goals. It emphasises large-scale renewable energy integration, deployment of energy storage systems, grid modernisation and improved financial viability of DISCOMs to ensure reliable and affordable power supply.

*The Government of India has approved the Small Hydro Power (SHP) Development Scheme for 2026-31 with an outlay of Rs. 2,584.60 crore (US$ 0.29 billion) to support installation of ~1,500 MW capacity across states

Competitive
Advantage

*India ranked 3rd globally in renewable energy installed capacity, reaching 250.52 GW as of December 2025, according to IRENA Renewable Energy Statistics 2026.

*Power generation from solar and wind projects are likely to be cost-competitive relative to thermal power generation in India in 2025-30.

*India has officially surpassed Japan to become the world's third-largest solar energy producer. According to data from the International Renewable Energy Agency (IRENA), India generated 1,08,494 GWh of solar power, exceeding Japan's 96,459 GWh.

Snapshot Showcase Infographics Reports

Last updated: Feb, 2026

Avaada Group

Avaada Group is a leading Indian clean energy conglomerate focused on renewable power generation, green hydrogen, green ammonia, and solar module manufacturing. Founded by Mr. Vineet Mittal, the group has installed over 4 GW of renewable energy capacity and is rapidly expanding into future-ready solutions like green hydrogen. Backed by prominent global investors such as Brookfield, ADB, and PTT Thailand, Avaada plays a pivotal role in India’s energy transition and sustainability goals.

Company Website

Tata Power Solar

Tata Power Solar Systems Ltd. is part of the Tata Group and the largest integrated solar power player in the country. It has three separate business segments – manufacturing of solar cells and modules, engineering, procurement, and construction (EPC) for solar power projects and other solar products. It provides customised and specialised solutions for various sectors like education, banking, healthcare, telecom, etc. and operates in both rural and urban areas. Tata Power has a capacity of 12.8 GW, of which 3.9 GW is currently from clean energy, and it aims to make 80% of its total power come from clean energy by 2030. In Q3 FY26, revenue stood at Rs. 14,485 crore (US$ 1.64 billion), while cumulative revenue for 9M FY26 increased to Rs. 47,719 crore (US$ 5.40 billion), registering a growth of 1% YoY.

Company Website

ReNew Power

ReNew Power Ventures operates as an independent power producer. The company engages in the generation of non-conventional energy through solar and wind power. It sells its power to state electricity boards and large industrial companies in India. It was founded in 2011 and commenced operations in 2012 with its first project with a capacity of producing 25.20 MW from Jasdan, Gujarat. Renew Power has a capacity of more than 13.4 GW, while its commissioned capacity stands at 7.7 GW. It plans to double its portfolio of running plants and projects under implementation to 10,000 MW in five years.

Company Website

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