The year 2022 will mark a turning point in India’s development of renewable energy. As per the Ministry of New and Renewable Energy (MNRE), India will have attained a total installed renewable energy capacity of 150 GW by November 2021. It includes projects with a total capacity of 50.98 GW in various phases of development. With the $1 trillion “Solar Investment Roadmap for 2030,” India is prepared to become a key provider of solar electricity to surrounding nations as part of the International Solar Alliance’s (ISA) One Sun, One World, One Grid (OSOWOG) initiative. Furthermore, during COP26 in 2021, India’s RE target was set at 500 GW for 2030, enhancing efforts and accelerating implementation.
With effective policies, the Indian government seeks to encourage the use and production of renewable energy, as well as to increase the development of production capacity. It allows RE enterprises to pursue foreign direct investments, interact with the government of India, stimulate startups, and support MNRE’s goals. Government subsidies and incentives for startups and MSMEs are paving the way for the wider use of renewable energy.
Solar energy is estimated to provide over 55% of India’s total renewable energy capacity, which is excellent news for solar panel manufacturers.
Here is a list of the Top 10 solar manufacturing companies in India :
Goldi Solar: Goldi Solar is one of the leading Indian manufacturers of solar panels, EPC services providers, and autonomous power generators (IPP). The MNC, headquartered in Surat, Gujarat, serves various worldwide corporations. It exports to more than 20 countries including the USA, UAE, Turkey, Myanmar, and major European nations including Spain, Germany, and France. In the last few years, the company’s production capacity has increased from 10 MW to 500 MW. It intends to add another 2000 MW, bringing the total capacity to 2.5 GW by the end of FY22.
Tata Power: This is a renowned renewable energy producer from India with three decades of experience in the solar sector, producing some of the best solar panels. Tata Power is an industry leader, with a module capacity of 580 MW and a cell capacity of 530 MW. Tata Power has a significant presence in rooftop solar panels, with 750 MW of installations. The company delivers industrial, corporate, and domestic solar projects, as well as on-grid and off-grid solar projects.
Vikram Solar: This company is a prominent provider of solar energy solutions. Vikram Solar, based in Kolkata, West Bengal, is one of the world’s leading solar PV module producers, with operations across 6 continents. They have a solar conversion efficiency of over 1 GW and a 10 kW floating solar unit in Kolkata.
Waaree Energies: Waaree Energies, headquartered in Mumbai, Maharashtra, is a leading key player in the solar manufacturing business. The company, which has operations in India and overseas, provides EPC services, project development, solar rooftop solutions, solar water pump solutions, and power plant solutions. Surat is home to a 2 GW module manufacturing plant.
Premier Energies: Premier Energies, situated in Hyderabad, is a prominent solar EPC company with over 25 years of expertise in PV cell and module production. They have sold 1.5 GW of modules globally. They have recently launched a new solar plant with a capacity of 750 MW for each cell and module.
RenewSys India: This company produced solar modules as well as important components such as PV cells, back sheets, and encapsulants. The Mumbai-based company provides services to over 40 nations globally from three production locations.
Pixon: With a 400 MW capacity, this Rajkot-based company makes solar modules and is one of the 10 solar manufacturers in India. Pixon also offers EPC services and produces raw materials like EVA films.
Adani Solar: Adani Solar is a subsidiary company of Adani Enterprises Ltd., India’s leading group. The company is listed among the 15 largest utility solar power developers in the world and manufactures solar modules and cells in Mundra, Gujarat.
Insolation Energy: Insolation Energy, situated in Jaipur, manufactures solar panels. The firm, which is comparatively new to the market, manufactures high-efficiency solar PV modules at its cutting-edge infrastructure.
Navitas Solar: Navitas Solar manufactures solar photovoltaic (PV) modules in both monocrystalline and multi-crystalline configurations. In addition to solar panels, the Surat-based company offers a whole lifecycle of solar power solutions and the development of solar power plants.