India installed 5.93 GW of utility-scale solar capacity in the first quarter (January–March) of 2025, marking a 12.2% increase compared to the previous quarter. Additionally, around 1.34 GW was added in the rooftop solar segment during the same period, according to India RE Quarterly Update for
Q1 2025 (Jan-Mar) by JMK Research.
For the full fiscal year ending March 31, 2025, India added 16.9 GW of new utility-scale solar capacity—a 47% year-over-year increase. During the same period, about 5.1 GW of new rooftop solar capacity was installed, representing a 72% increase compared to the previous year.
As of March 31, 2025, the top five developers in terms of cumulative installed and pipeline capacity across utility-scale solar, wind, and hybrid segments were Adani (36.2 GW), ReNew (22.3 GW), NTPC (16.2 GW), Greenko (15.14 GW) and Avaada (15.13 GW).
JMK Research projects India to add around 30.2 GW of new solar capacity in FY 2026, comprising 21.1 GW from utility-scale projects, 7 GW from rooftop solar, and 2.05 GW from off-grid installations.
Q1 2025 market shares
In Q1 2025, Sungrow led the inverter market with around 9.8 GW shipped in the Indian market, followed by Sineng (2.8 GW) and FIMER (1.9 GW).
During the quarter, 12.5 GW of modules were shipped by 24 major players in the Indian market. Waaree topped module shipments, accounting for about 17.3% of total quarterly shipments in India.
Exports by Adani and Waaree in Q1 2025 more than doubled compared to Q4 2024.
In Q1 2025, the price of mono-PERC 500 Wp modules stood at INR 15.39/Wp, reflecting a 22.14% year-over-year decline.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.