From pv magazine India
JMK Research expects India to add around 42.5 GW of new solar capacity in calendar year (CY) 2026. This is projected to include 32.5 GW of utility-scale solar, 8.5 GW of rooftop solar, and 1.5 GW from the off-grid segment.
According to the analyst, India installed about 37.8 GW of solar capacity in CY2025, comprising roughly 28.6 GW of new utility-scale solar, up 54.6 % increase from 2024, and 7.9 GW of rooftop solar, up 72 % year on year. Off-grid additions stood at 1.35 GW, slightly down from 1.48 GW in 2024.
As of 31 December 2025, India’s cumulative installed renewable energy capacity reached 136 GW for solar, 55 GW for wind, and 51 GW for hydropower. The combined pipeline of solar, wind, hybrid, and storage projects totals around 169 GW, expected to be commissioned over the next four to five years. A further 32 GW of projects are in the bidding phase, with tenders issued but auctions not yet concluded.
The top five players by cumulative installations and pipeline capacity across utility-scale solar, wind, and hybrid segments are Adani (40.4 GW), ReNew (22.2 GW), NTPC (19.6 GW), JSW Energy (16.1 GW), and Greenko (15.1 GW). Among these leading developers, Adani, ReNew, NTPC, Tata Power, and Juniper Green have collectively installed around 5.61 GW of hybrid capacity as of December 2025.
Q4 2025 update
In Q4 2025, India added approximately 6.2 GW of utility-scale solar capacity, a 23 % decline from the previous quarter. The rooftop segment recorded about 2.1 GW of new installations, down 22 % quarter on quarter.
Inverters
More than 14.2 GW of inverter shipments were recorded in Q4 2025 from 15 suppliers serving both central and string inverters. Sungrow led the market with shipments exceeding 5.25 GW, driven primarily by central inverters while maintaining a significant share in string inverters.
Modules
Leading Indian module suppliers shipped roughly 14 GW in Q4 2025. The top five companies accounted for about 52 % of total shipments, with Waaree emerging as the market leader with a 21 % share.
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