Top Solar Energy Companies in India | IBEF

Some major investments and developments in the Indian renewable energy sector are as follows:

• The Government of India is accelerating rooftop solar adoption under the PM Surya Ghar Muft Bijli Yojana, targeting installations in one crore households by 2026-27, with 26.19 lakh systems installed as of March 19, 2026. The scheme has disbursed Rs. 17,967.53 crore (US$ 2.03 billion) as Central Financial Assistance, supported by a fully digital, time-efficient subsidy mechanism with an average processing time of around 15 days.
• India’s solar power generation reached 16,983.54 MU in February 2026, increasing from 12,913.58 MU in February 2025, reflecting strong year-on-year growth. Cumulatively, solar generation stood at 155,370.47 MU during April 2025–February 2026, up from 127,338.85 MU in the same period last year, driven by significant contributions from states such as Rajasthan, Gujarat and Tamil Nadu.
• India’s power sector has witnessed significant expansion, with total installed capacity reaching 520.51 GW as of January 2026. The National Electricity Plan (2023-32) outlines an investment of Rs. 9.15 lakh crore (US$ 103.55 billion) to meet a projected peak demand of 458 GW by 2032.
• 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. The scheme is expected to catalyse investments of around Rs. 15,000.00 crore (US$ 1.70 billion), particularly in hilly and North Eastern states, while promoting decentralised renewable energy generation.
• India’s renewable energy sector is undergoing a significant transformation, driven by its ambitious target of achieving 500 GW of non-fossil fuel capacity by 2030. As of December 2025, around 23.90 lakh households had installed rooftop solar systems with a capacity of ~7 GW, supported by subsidy disbursements of Rs. 13,464.60 crore (US$ 1.52 billion) under the PM Surya Ghar scheme
• India’s rooftop solar programme under PM Surya Ghar has witnessed accelerated progress, with over 9.56 GW of rooftop solar capacity installed as of March 2026. This marks a significant increase from earlier figures, with the scheme rapidly expanding beyond 23.96 lakh households covered as of December 2025, indicating strong momentum towards the target of one crore solar-powered homes.
• According to Department of Promotion of Industry and Internal Trade (DPIIT) from April 2000-June 2025 non-conventional energy sector attracted Rs. 2,04,341 crore (US$ 23.04 billion) cumulative FDI inflows in India.
• India and the Netherlands are set to strengthen their clean energy collaboration by establishing a green and digital corridor between Indian ports and the Port of Rotterdam.
• On November 19, 2025, KPI Green Energy Ltd and Inox Solar Ltd signed an MoU to jointly develop 2.5 GW of solar and hybrid renewable-energy projects across India.
• On October 22, 2025, Coal India Limited signed a Memorandum of Understanding with Indian Institute of Technology Madras to establish a “Centre for Sustainable Energy” focused on developing low-carbon technologies, repurposing coal mines and building human capital for India’s clean-energy transition.
• On September 23, 2025, a report by National Institute of Solar Energy (NISE) estimated that India has a feasible ground-mounted solar photovoltaic potential of 3,343.37 GWp across 27,571 sq km of wasteland, sharply up from the 748.98 GWp estimated in 2014.
• NHPC Ltd will commission 2,170 MW of new hydropower capacity by the end of FY26, including the 2,000 MW Subansiri Hydropower Project in Arunachal Pradesh, which will become the largest hydroelectric project in India once fully operational.
• Avaada Group announced on April 29, 2025, that it has signed an initial agreement with the Maharashtra government to develop two pumped storage projects in the state, with a combined capacity of 3,600 megawatts (MW). The projects, which include the 2,400 MW Pawana Falyan and the 1,200 MW Sirsala, will require a cumulative investment of Rs. 15,100 crore (US$ 1.77 billion). As stated by the company, these initiatives are expected to create over 3,800 direct employment opportunities.
• India is empowering startups and MSMEs to scale up clean energy solutions. With innovation support from the Ministry of New and Renewable Energy, smaller enterprises are being positioned as key drivers of energy transformation through decentralised and efficient technologies.
• According to Union Minister of Commerce and Industry, Mr. Piyush Goyal, India's renewable energy capacity has reached 227 GW, marking a 4,000% surge in solar capacity. He also noted that India is likely the first G20 nation to meet its Paris Agreement NDC targets.
• Over the last few years there has been an increase in the percentage contribution of renewable energy to total installed capacity. In 2013-14, the contribution was 12.92%, which increased to 45.50% as of March 2025.
• India is expected to add 32 GW of renewable capacity in 2025, up from 28 GW in 2024, according to Moody’s-owned Investment Information and Credit Rating Agency (ICRA).
• India's share of renewable energy in total foreign direct investment (FDI) inflows rose from about 1% in FY21 to around 8% in FY25. The renewable energy sector attracted US$ 3.4 billion in FDI in the first three quarters of FY25, nearly matching the total FDI for the entire FY24 at US$ 3.7 billion, reflecting growing global investor interest in India's clean energy transition.
• The National Green Hydrogen Mission is progressing with a Rs. 19,744 crore (US$ 2.26 billion) outlay. It includes the allocation of 3,000 MW electrolyser capacity and approvals for 8.6 lakh tonnes per annum of green hydrogen production, reinforcing India’s push towards industrial decarbonisation and energy security.
• India’s renewable energy sector posted record-breaking growth in the H1 2025, adding 22 gigawatts (GW) of capacity, up 56% YoY, according to data from the Central Electricity Authority. This surge has pushed the country’s total clean energy capacity, including large hydropower and nuclear, above that of fossil fuels for the first time. 
• India is set to invest over US$ 360 billion in renewable energy and infrastructure by 2030, with US$ 190 billion to US$ 215 billion needed to achieve 500 GW of renewable capacity. An additional US$ 150 billion to US$ 170 billion will be required for electricity transmission and storage.
• India's renewable energy sector has attracted significant foreign direct investment (FDI), amounting to Rs. 1,59,959 crore (US$ 21.90 billion) from April 2000 to March 2025.
• According to Union Minister for New and Renewable Energy, Mr. Pralhad Joshi, India attracted Rs. 42,000 crore (US$ 4.88 billion) in clean energy FDI in 2023 alone, contributing to a cumulative FDI inflow of over Rs. 1,60,000 crore (US$ 18.60 billion) since 2020. In Q1 2025, clean energy investments soared 7.7 times YoY to Rs. 84,309 crore (US$ 9.8 billion).
• India's renewable energy sector is set to attract over US$ 250 billion in investments, with solar PV projects expecting US$ 15.5 billion and battery manufacturing US$ 2.7 billion by 2030.
• The Cabinet has approved a Rs. 1 lakh crore (US$ 11.41 billion) Research, Development and Innovation Fund. Union Minister Mr. Piyush Goyal highlighted its potential to rival Rs. 6-7 lakh crore (US$ 68.47-79.88 billion) R&D investments in advanced economies, leveraging India’s cost advantages.
• The Union Budget for 2025-26 has notably enhanced allocations for the renewable energy sector, with budget estimates for MNRE totalling Rs. 256.49 crore (US$ 3.03 billion), a 39% increase over last year’s Rs. 19,100 crore (US$ 2.26 billion).
• 59 solar parks with an aggregate capacity of 40 GW have been approved in India. Solar Parks in Pavagada (2 GW), Kurnool (1 GW), and Bhadla-II (648 MW) are among the top 5 operational solar parks of 7 GW capacity.
• The world’s largest renewable energy park of 30 GW solar-wind hybrid capacity is under installation in Gujarat.
• India offers significant opportunities for investments in the RE sector, with US$ 196.98 billion worth of projects underway.
• Wind energy has an offshore target of 30 GW by 2030, with 3 potential sites identified.
• India aims to become a global wind power hub, with policy support driving local manufacturing and a target of capturing 10% of global wind energy demand by 2030.
• BPCL plans US$ 1.19 billion (Rs. 10,029 crore) for green energy, targeting 2 GW by 2025, 10 GW by 2035, and 7,000 EV chargers in five years.
• State-owned power giant NTPC announced on February 24, 2025 that it has signed preliminary agreements to invest over Rs. 2 lakh crore (US$ 23.6 billion) in a range of renewable energy projects in Madhya Pradesh, including solar, wind, pumped hydro storage, non-fossil fuel-based initiatives, and other carbon-neutral ventures.
• NTPC has announced its plan to invest about Rs. 80,000 crore (US$ 9.13 billion) in renewable energy projects in Telangana, focusing on solar and wind projects.
• NLC India Ltd secured a Letter of Award from NTPC for a 450 MW wind-solar hybrid project, enhancing its hybrid capacity to 600 MW and supporting its 10 GW renewable energy target by 2030.
• Avaada Group signed agreements with the Maharashtra government for 3,600 MW pumped storage projects and with the Bihar government for Rs. 5,000 crore (US$ 570.58 million) in renewable investments.
• Indian renewable energy firm SAEL Industries Ltd will invest Rs. 8,200 crore (US$ 935.75 million) to build a 5-gigawatt (GW)-per-year integrated solar cell and module manufacturing facility in the northern state of Uttar Pradesh.
• In February 2025, Emmvee Group, a Bengaluru-based manufacturer of solar photovoltaic panels, announced that it will invest Rs. 15,000 crore (US$ 1.7 billion) to establish a manufacturing facility and generate 10,000 jobs.
• Ayana Renewable Power Pvt Ltd plans to set up 2 GW of renewable projects with Rs. 12,000 crore (US$ 1.53 billion) in Karnataka.
• Radiance Renewables and the UK’s Private Infrastructure Development Group formed Radiance InfraCo Renewables to develop greenfield hybrid projects in India.
• India and the Netherlands will establish a green and digital corridor between Indian ports and the Port of Rotterdam.
• On December 4, 2023, Andhra Pradesh announced Rs. 6,600 crore (US$ 794 million) clean energy and infrastructure plans, including 750 MW and 100 MW solar projects, substations, and EV initiatives.
• On January 4, 2024, Torrent Power signed pacts with Gujarat to invest Rs. 47,350 crore (US$ 5.70 billion) in renewable energy, green hydrogen, and power distribution.
• On January 8, 2024, Tata Power announced a Rs. 70,000 crore (US$ 8.42 billion) plan to build 10 GW of solar and wind capacity in Tamil Nadu over 5-7 years.
• Maruti Suzuki India will invest Rs. 450 crore (US$ 54 million) in renewable energy projects, including a biogas plant and expansion of solar capacity.
• Eco Wave Power and Bharat Petroleum signed an MoU at India Energy Week 2025 to explore 40,000 MW of wave energy potential.
• The Solar Energy Corporation of India (SECI) has conducted large-scale auctions and awarded contracts for 47 solar parks with over 25 GW of capacity.
• Indian companies are outpacing global averages in emissions reporting and reduction, with decarbonisation yielding strong financial returns and driving sustainability and AI-led innovation.