Markets & Policy

Since 1993, the World Energy Outlook (WEO) of the International Energy Agency (IEA) has been an authoritative report on energy statistics and guiding future energy supply and demand developments. An examination of these reports, however, indicates that even the most progressive of WEO scenarios has vastly underestimated the growth of renewable energy technologies, especially solar PV.

The BC Jindal Group has unveiled plans to invest INR 15,000 crore by 2030 to establish multigigawatt-scale manufacturing capacities for solar cells and modules, battery cells and packs, and solar glass.

Havells India Ltd has signed binding term sheet to invest INR 600 crore in Surat-based PV module manufacturer Goldi Solar (Goldi). As part of conditions precedent to the transaction, Havells will enter into a master supply and service agreement with Goldi for consistent supply of solar modules and cells.

India’s installed rooftop solar capacity will reach 25–30 GW by FY 2027 from 17 GW in FY 2025, according to CareEdge Advisory & Research.

Jupiter International Ltd has secured an INR 500 crore investment from ValueQuest SCALE Fund and its affiliates to support expansion of its solar manufacturing capacity.

In a new weekly update for pv magazine, OPIS, a Dow Jones company, FOB China TOPCon below 450 W modules for spot loading were stable at $0.093/W, with price indications between $0.087-0.100/W. Furthermore, it reveals that current price increases are not being uniformly adopted across all Chinese manufacturers, with significant price differences—often several euro cents— being observed between the Top 5 and Top 10 manufacturers.

According to the “Energy Statistics India 2024” report by the Ministry of Statistics and Programme Implementation, total emissions from the energy sector have been on the rise, underscoring the urgency for sustainable energy practices and stronger ESG-aligned interventions.

India’s solar exports vis a vis other countries could still continue to remain competitive, though the margins could take a marginal hit.

JSW Energy has completed the acquisition of 4.7 GW renewable energy platform O2 Power at an enterprise valuation of around INR 12,468 crore.

Ashish Khanna, Director General of International Solar Alliance, highlighted the need to enable private-sector investments in driving technology and innovation for distributed renewable energy, while the government focuses on developing the policy and regulatory framework and results-based financing to make these solutions affordable for the poor.