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Top 10 solar manufacturing companies in India

2022 is going to be a watershed year for the renewable power industry in India. According to the Ministry of New and Renewable Energy(MNRE), as of November 2021, India has achieved cumulative installed renewable energy capacity of 150 GW. It has projects of 50.98 GW capacity in various stages of implementation. As part of the One Sun, One World, One Grid (OSOWOG) project proposed by the International Solar Alliance (ISA), India is poised to become a leading supplier of solar power to neighboring countries with the $1 trillion ‘Solar Investment Roadmap for 2030’. Additionally, at COP26 2021 the RE target for India was set to 500 GW for 2030, intensifying the efforts and pace of implementation.

The Government of India intends to promote the use and manufacturing of renewable energy and expedite the production capacity building with favorable policies. It provides an opportunity for RE businesses to attract foreign direct investments, collaborate with the Government of India, boost startups and support MNRE in its objectives. Encouragement to startups and MSMEs and Government subsidies are paving the way to enable and adopt renewable energy at a mass scale.

Solar energy is expected to contribute to almost 55% of India’s overall renewable energy capacity, and it is good news for solar panel manufacturing companies.

Here is a list of the best solar manufacturing companies in India:

Goldi Solar: Goldi Solar is a leading Indian solar panel manufacturing company, EPC services provider and Independent power producer (IPP). Headquartered in Surat, Gujarat, the MNC caters to several international companies. It exports to more than 20 countries including USA, UAE, Turkey, Myanmar and major European nations including Spain, Germany and France. The company has grown its manufacturing capacity from 10 MW to 500 MW in the last decade. It aims to add another 2000 MW, leading to a capacity of 2.5 GW by the end of FY22.

Tata Power: This is an eminent renewable power manufacturer from India with three decades of solar industry operations, making some of the best solar panels. An industry leading company with production capacity of 580 MW of modules and 530 MW of cells, Tata Power has a stronghold in rooftop solar panels with 750 MW of installations. The company offers industrial, commercial, residential and on-grid and off-grid solar projects.

Vikram Solar: This company is a major solar energy solution provider. With operations in over six continents, Vikram Solar is headquartered in Kolkata, West Bengal and is one of the largest solar pv module manufacturer. They have over 1 GW of solar production capacity and a 10 kW floating solar plant in Kolkata.

Waaree Energies: Based in Mumbai, Maharashtra, Waaree Energies is one of the significant players in the solar manufacturing industry. With operations across India as well as abroad, the company offers EPC services, project development, solar rooftop solutions, solar water pump and power plant solutions. They have a 2 GW module manufacturing facility in Surat.

Premier Energies: Hyderabad based Premier Energies is a leading solar EPC company with over 25 years of experience in PV cells and module manufacturing. They have sold 1.5 GW modules worldwide. They have recently launched a new solar plant with a capacity of 750 MW each of cell and module.

RenewSys India: This company manufactures solar modules and key components like PV cells, backsheets and encapsulants. With 3 manufacturing facilities, the Mumbai based company supplies to over 40 countries worldwide.

Pixon: This Rajkot based company manufactures solar modules and is one of the top 10 solar manufacturers in India with 400 MW capacity. Pixon also provides EPC services and manufactures raw materials such as EVA films.

Adani Solar: Adani Solar is a wholly-owned subsidiary of Adani Enterprises Ltd., a leading conglomerate in India. The company is listed among the 15 largest utility solar power developers in the world and manufactures solar modules and cells at Mundra, Gujarat.

Insolation Energy: Jaipur based Insolation Energy manufactures solar panels. Relatively new in the industry, the company manufactures high efficiency solar PV modules in its state of the art facility.

Navitas Solar: Navitas Solar manufactures mono/multi crystalline solar photovoltaic (PV) modules. Apart from solar panels, the Surat based company also provides a complete lifecycle of solar power solutions and project development in solar power plants.