Tata Power–Bank of Baroda Pact Unlocks ₹10 Crore Collateral-Free Loans for Solar Projects up to 10 MW

Tata Power Renewable Energy Limited (TPREL), one of India’s leading renewable energy companies and a subsidiary of The Tata Power Company Limited (Tata Power), has signed a Memorandum of Understanding (MoU) with Bank of Baroda, one of India’s premier public sector banks, to facilitate financing solutions for MSME and Commercial & Industrial (C&I) customers opting for solar energy.

Under this partnership, Bank of Baroda will extend financial assistance to borrowers purchasing solar equipment and projects of up to 10 MW capacity through TPREL or its authorized channel partners. This initiative is designed to help MSME and C&I businesses adopt renewable energy with greater ease, reduce operating costs, and contribute to India’s sustainability goals.

The financing scheme offers several key benefits, which include an attractive rate of interest starting from 7.75%, collateral-free loans of up to ₹10 crore CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) coverage, flexible repayment tenure of up to 120 months, pan-India financing coverage, reduced margin requirements (starting from 20%), and concessional processing fees.

As of August 2025, TPREL has successfully completed over 2.49 lakh rooftop solar installations, achieving a cumulative capacity exceeding 3.6 GWp. In the C&I segment, TPREL has catered to a diverse set of customers across various sectors viz - Hospitality, Automotive, Aviation, Education, HVAC, Chemical, Steel, Electronics, and Textiles, among others.

This collaboration underscores TPREL’s commitment to accelerating clean energy adoption across industries and highlights Bank of Baroda’s focus on strengthening green financing to support India’s transition towards a low-carbon economy.

It further reinforces TPREL’s position as a leader in India’s renewable energy journey, contributing to the nation’s target of achieving 500 GW of renewable energy capacity by 2030.

PM Modi Inaugurates Sunstream’s 140 MWp Solar Project in Maharashtra; Company Targets 1 GW Renewable Portfolio

Honorable Prime Minister Shri Narendra Modi today inaugurated Sunstream Green Energy’s 140 MWp solar project in Maharashtra, as part of the 2,458 MW of renewable energy projects launched nationwide. The Company also announced its plan to develop a 1-gigawatt (GW) portfolio of operating renewable energy assets within the next 18–24 months. This vision builds on Sunstream’s 500 MW project portfolio with 250 MW operational and 250 MW under execution, underlining its strategy of scaling high-quality assets for India’s clean energy transition.

Sunstream Green Energy was founded by Mr Bhadra Kanaiya in 2019 which is backed by Lighthouse Trust Singapore based, emerging market focussed growth fund, “At Sunstream, our work is centered on powering India’s Utility and C&I sector with reliable distributed renewable energy. Our 140 MWp project in Maharashtra reflects our execution strength, while our long-term focus is on helping large corporates and multinational companies achieve their clean energy and net-zero commitments,” said Kanaiya Bhadra, Founder & CEO, Sunstream Green Energy.

The launch of 2,458 MW of solar projects by Prime Minister Modi marks a major step in India’s journey toward energy independence and net-zero by 2070. With PM-KUSUM the world’s largest distributed renewable energy program and initiatives such as Maharashtra’s Mukhya Mantri Saur Krushi Vahini Yojana (MSKVY), India is building a model that combines clean power growth with economic empowerment.

Sunstream Green Energy’s strategic focus is to be the partner of choice for Corporate & Industrial customers, including listed entities and multinational corporations. By delivering cost-effective and scalable renewable power solutions, the company enables its customers to lower energy costs, enhance competitiveness, and meet global sustainability commitments such as RE100 and net-zero goals. With its growing expertise in hybrid and storage-backed solutions, Sunstream is also enabling corporates to secure reliable round-the-clock clean power for their operations.

Backed by a Lighthouse Trust, Singapore-based fund, Sunstream Green Energy is well-capitalized to expand its footprint. The company is actively developing projects that integrate solar, wind, and energy storage, strengthening its position as a trusted partner for corporates in their net-zero transition.

Serentica Acquires Norway-based Statkraft’s India Solar Portfolio, Adds 1.4 GWp Toward 2030 Decarbonization Goal

Serentica Renewables, India’s largest decarbonization platform for C&I and utility customers, has signed binding agreements with Norway based Statkraft to acquire their Indian solar business.

Statkraft’s Indian solar business comprises of 445 MWp operational solar plant at Bikaner and 1 GWp of development assets across Rajasthan. The portfolio is strategically located in resource rich states and is currently supplying power on a merchant basis. These assets will be transitioned to serve Serentica’s C&I customers on a round-the-clock basis, thereby offsetting an estimated ~0.6 Mn tonnes of CO2 annually.

The acquisition will grow Serentica’s operating portfolio to 1.5 GW keeping the company on course to achieving its target of 17 GW by 2030. The completion of the transaction is subject to the fulfilment of conditions precedent and necessary regulatory approvals, if any.

Standard Chartered Bank acted as the buy-side transaction advisor along with Khaitan & Co. as the legal advisor. Ernst & Young LLP acted as the exclusive sell-side M&A banker to Statkraft, with Cyril Amarchand Mangaldas acting as the legal advisors.

Commenting on the development, Pratik Agarwal, Chairman, Serentica Renewables, said, “Serentica renewables is committed to the energy transition goals of India, and this acquisition is one more step in furthering that vision. By integrating this asset with wind and storage systems we will be able to provide a faster round-the-clock solution to our largest clients.”

Fernando de Lapuerta, Executive Vice President International, Statkraft, said, “We are very pleased with this transaction. Serentica Renewables is a fast-growing renewable energy company with high ambitions. We are confident that they will continue to operate and develop these assets with competence and commitment, contributing to India’s green energy transition. I am also glad that this offers new opportunities for our competent employees following the transaction.”

About Serentica Renewables

Established in 2022, Serentica Renewables is a leading renewable independent power producer (IPP) committed to decarbonizing hard-to-abate industries by providing firm dispatchable renewable energy (FDRE) solutions. With a vision to make renewables the primary energy source across India’s energy landscape, Serentica is driving large-scale decarbonization & contributing to the nation’s broader goals, including through government tenders. The company has achieved a significant milestone by reaching 1,000 MW of renewable energy capacity, with ongoing projects across multiple states, leveraging a mix of solar, wind, energy storage, and advanced balancing solutions. Serentica’s innovative approach ensures reliable and cost-effective green power for its growing customer base, which includes some of India’s largest energy-intensive industries. Backed by a $650 million investment from KKR, Serentica aims to supply over 50 billion units of clean energy annually, enabling the displacement of 47 million tons of CO2 emissions. With a strong pipeline of projects under development, the company is at the forefront of India’s energy transition, deploying cutting-edge technology and innovative contractual structures to accelerate the shift to sustainable power.

About Statkraft

Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has around 7,000 employees in more than 20 countries.

QuantE Energy Raises $500K from TDV Partners and Angels to Unlock $25B Residential Solar Market

• The company is using AI and IoT-powered solutions and innovative financial models to address multiple pain points in the residential industry like high costs, servicing and smart monitoring
• QuantE aims to expand its digital onboarding to all metro cities in the next 6-12 months for accelerated growth

QuantE Energy Tech Private Limited, a cleantech startup focused on distributed solar and renewable energy solutions in residential sector, has raised $500K in seed funding from Trillion Dollar Venture (TDV) Partners, an early-stage VC alongside participation from marquee angel investors including Raghunandan G - Founder Zolve and TaxiForSure, Amit Lakhotia- Founder Park+, Ankit Gupta - President Brookfields and ex-CEO OYO and Hari Krishnan Nair - co-founder Great Learning. It has also raised an undisclosed amount in debt and related instruments.

The investment will fuel the company's mission to democratize access to clean, affordable, and smart energy for the residential sector, especially housing societies in Indian metros and beyond.

The funding comes as India gears toward its ambitious renewable energy targets of 500 GW by 2030, with distributed solar playing a crucial role in the country's energy transition. Yet, most of India’s residential rooftop capacity remains untapped, with residential societies and individual homes — facing challenges of upfront costs, poor servicing, limited awareness and inconsistent project quality.

QuantE addresses this by deploying AI and IoT-powered solutions along with innovative financial models that make clean energy adoption seamless, affordable, and scalable. Founded in 2024 by seasoned entrepreneurs Akshat Khare and Ankush Vashisht, the company's platform combines advanced technology with innovative financing models to target India's untapped $25 billion distributed solar opportunity.

“This investment accelerates our mission to bring clean energy to markets that have been largely overlooked," said Akshat Khare, Co-founder QuantE Energy Tech. "The solar industry has grown rapidly in large urban projects, but there’s still a huge gap in serving the residential segment and societies. These customers face real barriers—high upfront costs and poor service and quality. We’re using technology to remove these barriers and make solar adoption easier—through AI/IoT-driven planning, smart monitoring, and flexible financing models that eliminate upfront costs, complex processes and make servicing absolutely seamless for residentials. Our goal is to make clean energy as accessible and reliable as any other essential service and bring transparency in the system."

QuantE’s solutions

For Residential societies and households

• AI powered analysis & energy profiling – Significantly reduces planning and downtime from weeks to hours
• Innovative financing models – Easier adoption
• IoT-enabled smart monitoring – Real-time performance tracking & predictive maintenance
• Community Solar/EV/ESS models – Shared energy for apartments and gated communities
• Digital onboarding & rapid deployment – Making complex processes smoother enabling faster execution

Commenting on the announcement, Ujwal Sutaria, Founder and General Partner at TDV Partners said, “The solar market is expected to reach $60 billion by 2028, from $25 billion in 2023, highlighting the massive opportunity in this sector. QuantE’s focus on democratizing clean energy access aligns perfectly with India's sustainability goals while addressing a genuine market need. The team's deep understanding of distributed energy markets and their tech-first approach positions them well to capture this significant opportunity."

QuantE has already deployed successful pilot projects for 13 societies across Mumbai, Pune & Delhi NCR with its cloud-based platform and AI-driven diagnostics showing promising early results.

The seed funding will support QuantE's ambitious growth plans over the next 6-12 months, including expanding digital onboarding and going deeper in the top metros itself, launching community solar pilots, and strengthening financing partnerships with banks, NBFCs, and CSR programs. The company will also focus on building its proprietary solar+AI hardware/software stack for enhanced monitoring and optimization.

The investment comes at a crucial time as India's B2B solar market grows at 15-17% CAGR and the B2B2C segment expands at 18-20% CAGR through 2028. With government policies like PM-KUSUM and increasing corporate ESG commitments driving adoption, QuantE is positioned to capture significant market share in the fragmented distributed solar segment.

While legacy players focusing primarily on large-scale projects, QuantE specifically targets India's residential societies —representing a massive untapped opportunity. The founding team brings deep expertise in energy technology, digital platforms, and financial innovation, enabling a truly tech-first approach to market challenges.

About QuantE

QuantE Energy Tech Private Limited is a Noida-based cleantech company delivering advanced solar and clean energy solutions to residential households and communities across India. Its offerings include turnkey Energy as a Service solutions for Solar/EV/ESS, Tech based O&M, flexible financing and IoT-powered energy analytics. Founded by Serial Cleantech Entrepreneurs Akshat Khare (with two successful exits) and Ankush Vashisht, QuantE’s mission is to democratize clean energy and accelerate India’s transition to 280 GW of solar capacity by 2030.

To learn more, visit: https://quanterenewables.com/

About TDV Partners

TDV Partners is a micro-VC firm backing early-stage startups led by visionary founders with a global outlook. Founded in 2021 by serial entrepreneur Ujwal Sutaria, TDV has built a portfolio of 36+ startups across emerging sectors, including consumer technology, spirituality tech, consumer AI, and lifestyle upgrades. With a founder-first approach, TDV provides hands-on support across go-to-market strategy, product-market fit, fundraising, and team building—from ideation to scale. The firm announced its second corpus of ₹50 crore in October 2024 to deepen its commitment to nurturing innovative tech-driven ventures from India. With one successful exit already under its belt, TDV is on a mission to back the next wave of trillion-dollar companies born out of India.

The Evolving Landscape of Solar EPC and Energy Storage in India

India’s renewable energy ambitions have accelerated significantly over the past decade. With a growing emphasis on sustainability and climate responsibility, solar EPC (Engineering, Procurement, and Construction) and energy storage are emerging as essential pillars of this transformation. As the country pushes toward energy self-reliance and cleaner alternatives to fossil fuels, the combined evolution of solar EPC services and energy storage systems has become central to long-term planning.

Shalin Seth

Supported by favourable government policies, improving technologies, and growing investor interest, these sectors are undergoing notable advancements. Their combined progress is enabling large-scale energy projects that are not only cleaner but also more reliable and adaptable to the country’s diverse energy needs.

The Expanding Role of Solar EPC in India

Solar EPC providers are responsible for delivering end-to-end solutions in solar power development. Their scope includes technical feasibility assessments, detailed engineering, procurement of components, construction, commissioning, and, increasingly, post-installation support. This turnkey approach ensures that developers, public utilities, and commercial clients can rely on a single partner for the execution of solar power projects.

India’s installed solar capacity has risen to nearly 82 GW as of early 2025, supported by the increasing efficiency and competitiveness of EPC firms. Their use of modern practices such as automated cleaning systems, advanced inverters, and optimised plant layouts has enhanced both energy output and system longevity.

The shift from small rooftop installations to large utility-scale solar parks is being facilitated by EPC firms that are equipped to handle complex projects with rigorous timelines and compliance requirements.

Advancements in Solar EPC Practices

The solar EPC industry is no longer limited to basic construction and installation. It now reflects a broader trend toward optimised energy infrastructure. One significant advancement is the growing deployment of bifacial modules, which allow panels to absorb sunlight from both sides, thereby improving overall yield.

Integrated project delivery models are also gaining attention. These combine solar EPC with operation and maintenance services, enabling better performance monitoring and sustained generation. Additionally, hybrid EPC contracts that include components such as wind turbines or biomass systems are becoming more frequent, especially in regions where diversified energy sourcing is required.

Increased focus on decentralised energy solutions, particularly in remote and underserved areas, has led to the rise of mini-grid EPC projects. These projects are tailored to serve agricultural and village-level needs through a mix of solar generation and backup systems.

The Growing Significance of Energy Storage

While solar generation has made remarkable progress, its intermittent nature poses challenges for grid reliability and round-the-clock availability. Energy storage solutions, especially battery-based systems, are becoming indispensable in addressing these gaps.

India is witnessing a rising demand for energy storage infrastructure, both in grid-connected and off-grid applications. Lithium-ion batteries remain the dominant technology, but alternatives such as flow batteries and sodium-ion variants are under development. Storage systems are now being deployed alongside solar projects to offer a more consistent power supply, particularly in industrial and commercial environments.

According to estimates by the Central Electricity Authority, India may require over 50 GW of storage capacity by 2030 to effectively manage renewable integration. This requirement is fuelling investment in battery manufacturing, storage parks, and hybrid renewable systems, thereby opening new opportunities for collaboration between EPC contractors and storage technology providers.

Policy Support and Institutional Framework

The evolution of solar EPC and energy storage in India is closely linked to policy directives and regulatory frameworks. Initiatives such as the PLI scheme for solar manufacturing and the Green Energy Corridor project have provided critical momentum to the sector.

Recent policy measures are also encouraging the bundling of renewable energy with storage, particularly in public sector power procurement. The National Framework for Energy Storage, introduced in 2023, aims to standardise and streamline deployment procedures. Further, updates to renewable purchase obligations and energy banking policies are creating a more conducive environment for long-term investment in hybrid systems.

At the state level, regulatory commissions are increasingly mandating the inclusion of storage in large solar bids, thereby reinforcing the shift towards dispatchable renewable energy.

Cost Trends and Financial Viability

Cost considerations remain a significant factor in the adoption of solar EPC and storage solutions. Declines in the cost of solar modules and batteries over the past decade have significantly improved project economics. This has made solar power more attractive to industrial, commercial, and residential consumers alike.

Capital costs for lithium-ion battery storage systems have also declined steadily, improving their financial viability. Financing models for solar-plus-storage projects are evolving to include longer-term power purchase agreements, lease-based financing, and blended capital structures involving equity and debt.

Banks and infrastructure investors are demonstrating increasing confidence in integrated projects, especially where regulatory clarity and long-term revenue visibility exist. This trend is expected to strengthen further as more financial institutions develop expertise in evaluating the risks and returns of such hybrid systems.

Technological Integration with Modern Grids

As India moves towards a more decentralised and resilient energy future, the integration of solar power and energy storage into modern grid systems becomes essential. New infrastructure development is being guided by the need for better load balancing, demand forecasting, and real-time energy dispatch.

Solar EPC contractors are now expected to work in close coordination with grid operators to ensure compatibility with grid standards and communication protocols. Monitoring systems and automated controls play a key role in achieving this synchronisation.

Furthermore, the emphasis on grid-forming inverters and scalable battery configurations is helping improve grid stability, especially in areas prone to voltage fluctuations and peak demand imbalances. These efforts collectively contribute to a more stable and efficient energy network.

Challenges and Constraints

Despite the favourable growth trajectory, the sector continues to face several challenges. Land acquisition remains a complex issue, especially for utility-scale projects in densely populated or ecologically sensitive areas. Delays in transmission infrastructure and bureaucratic hurdles also pose operational challenges for EPC contractors.

On the energy storage front, India still relies heavily on imports for key battery components, which raises concerns about supply chain security and pricing volatility. Additionally, the absence of a comprehensive framework for the disposal and recycling of used batteries poses long-term environmental risks.

Workforce training and safety protocols must also be strengthened to meet the technical demands of storage system deployment and grid integration. Addressing these issues will be essential to unlocking the full potential of the sector.

Future Outlook

Looking ahead, the solar EPC and energy storage sectors are expected to continue their upward trajectory, supported by policy certainty, investor interest, and sustained technological development. There is growing emphasis on integrated projects that combine generation, storage, and management into a single solution.

The government’s target of achieving 500 GW of non-fossil fuel capacity by 2030 will largely depend on how efficiently solar and storage can be scaled together. This will require a greater alignment between public policy, private sector execution, and community engagement.

As more states adopt energy transition roadmaps, there will be increased demand for customised solutions, including solar microgrids, floating solar with storage, and mobile battery units for remote applications. This creates new opportunities for EPC contractors willing to innovate and expand their service offerings.

Gujarat’s Leadership in Solar and Storage Development

Gujarat has emerged as a front-runner in India’s renewable energy transition, particularly in the solar EPC and energy storage domains. The state has consistently demonstrated policy foresight, infrastructure readiness, and strong execution capabilities. As of early 2025, Gujarat has installed over 12 GW of solar power, supported by expansive solar parks such as the Dholera and Charanka projects. These parks are among the largest in Asia and serve as benchmarks for large-scale EPC execution. Additionally, Gujarat is one of the first states to successfully pilot utility-scale battery storage systems integrated with solar generation. The state's progressive land acquisition policies, dedicated renewable energy zones, and supportive regulatory mechanisms have made it a preferred destination for both domestic and international EPC contractors. Through such initiatives, Gujarat not only contributes significantly to national energy targets but also demonstrates how proactive governance and coordinated infrastructure planning can accelerate clean energy adoption.

Conclusion

India’s energy transition is gaining strength, and the evolving landscape of solar EPC and energy storage will play a central role in achieving the country’s long-term sustainability goals. As technologies mature and regulatory frameworks continue to evolve, these sectors are poised to shape the next generation of energy infrastructure.

With a clear national vision, proactive policy support, and growing stakeholder collaboration, India is well-positioned to become a global leader in clean energy deployment. The integration of efficient EPC practices with robust energy storage systems will ensure not only energy access but also energy reliability for millions across the country.

Tata Power Rolls Out Affordable Solar Rooftop Solutions

• Launches solar rooftop solutions starting from Rs 2499 in Odisha, backed by attractive financing options
• Aiming to accelerate India's clean energy transition with a target of 3 lakh rooftop installations in Odisha and 10 lakhs nationwide in the next 3 to 5 years
• Tied up with OREDA to boost state wide solar adoption
• Launches lifestyle solar solutions by expanding the product portfolio beyond simple solar rooftop systems

Tata Power Renewable Energy Limited (TPREL), India's leading rooftop solar company and a wholly owned subsidiary of Tata Power, today announced the launch of India’s most affordable rooftop solar solution at Bhubaneshwar in Odisha under its 'Ghar Ghar Solar' campaign. 

The Company’s accessible, consumer-centric financing model makes rooftop solar affordable for a broader segment of Odisha’s population. Residents can install systems with minimal upfront investment starting from ₹2,499 for 1 kW, ₹4,999 for 2 kW, and ₹7,999 for 3 kW. This initiative is impactful for households, turning solar adoption from an aspiration into an economically viable option. This first-of-its-kind initiative is set to accelerate residential rooftop solar adoption across the state by enabling customers to pay just one-third of the total amount, making solar power more accessible, affordable, and seamlessly integrated into households.  

Odisha consumers gain substantial financial benefits through the PM Surya Ghar: Muft Bijli Yojana, which offers subsidies up to ₹78,000 for solar systems up to 3 kW, covering nearly 40% of installation costs. The initiative is further strengthened through the State Government’s additional subsidy of ₹25,000 for a 1 kW system, ₹ 50,000 for a 2 kW system, and up to ₹ 60,000 for systems 3 kW and above. This financial support significantly accelerates rooftop solar adoption, making clean energy solutions accessible to households across the state. 

To cater to evolving needs, Tata Power has also introduced two enhanced Lifestyle solutions for residential customers:

• MySine – a compact, intelligent solar + battery backup system for uninterrupted power
• Solar Design Spaces – a curated range of 25 aesthetic rooftop installations blending sustainability with style

Odisha has already witnessed a remarkable surge in rooftop solar adoption, significantly driven by the growing awareness created through the 'Ghar Ghar Solar' initiative. The total consumer base has grown over four times, from 430 to 1,759, underscoring the deepening penetration of solar energy among both residential and commercial consumers. In FY25 alone, the Company onboarded 1,033 new solar rooftop customers, a tenfold increase from FY24 in the state. The Commercial & Industrial (C&I) segment also showed consistent growth in Odisha, with 76 consumers added in FY25, up from 56 consumers in FY24.

TPREL, the No 1 Rooftop Solar company for 10 years now, offers a comprehensive range of benefits to its solar rooftop consumers, including a 25-year warranty on modules, trusted quality assurance, exclusive sales and service in over 450+ districts, lifetime service and after-sales support across India, easy financing options, and insurance for solar rooftop systems.

With easy financing, pan-India presence, and wide-ranging innovations, Tata Power is making clean energy mainstream, empowering every Indian home to be solar-ready.

Interested customers can call our helpline at 18002577777 to know more about the installation of solar rooftop under the #GharGharSolar campaign.

Tata Power’s Solar Manufacturing Arm (TP Solar) Crosses 4 GW of Solar Module Production at Its Tamil Nadu Facility

TP Solar Limited, a wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL) and the manufacturing arm of The Tata Power Company Limited (Tata Power), today announced that it has crossed 4 GW solar module manufacturing at its Tamil Nadu plant.

The plant has cumulatively produced 4049 MW of solar modules and 1441 MW of solar cells upto 31st May’2025.

With a strategic focus on scaling up production, the Company is targeting 3.7 GW of solar cell output and 3.725 GW of module production in FY26, further solidifying its commitment to supporting India’s clean energy transition.

Strategically built to comply with Domestic Content Requirement (DCR) norms, the facility is equipped to manufacture next-generation Mono PERC (Passivated Emitter and Rear Cell) and advanced TopCon (Tunnel Oxide Passivated Contact) modules using cutting-edge automated and AI-driven technologies. The ramp-up aligns with Tata Power’s goal to strengthen India’s solar supply chain resilience by reducing dependency on imports and enabling faster deployment of clean energy projects nationwide.

The facility is already supplying panels to meet Tata Power’s order book requirements—including utility-scale solar farms, hybrid energy parks, and distributed rooftop systems as well as serving marquee third-party installations across the country.

With its rated capacity of 4.3 GW expected to be fully realized in FY26, the plant would continue to support the nation’s target of achieving 500 GW of non-fossil fuel capacity by 2030.

Beyond its technological prowess, the Tamil Nadu facility also stands out for its inclusive and sustainability-first approach. Over 80% of the plant’s shop floor workforce comprises women, reflecting Tata Power’s strong focus on gender diversity and equitable job creation in advanced manufacturing. The plant itself has been built using green building principles, energy-efficient processes, and resource-conscious design, minimizing its environmental footprint.

As one of India’s largest vertically integrated solar players, TP Solar is driving innovation and scale across the clean energy value chain—from manufacturing and engineering to deployment and digital energy services. The ramp-up of this 4.3 GW facility positions the company as a key enabler of India’s clean energy independence, while advancing the global movement toward sustainable energy security.

TPREL also has a 682MW solar module and a 530MW solar cell plant at Bengaluru, which operates at full capacity to support the DCR Cells and Modules production.

SAEL Lands $132 Mn from NDB, AIIB & Societe Generale for Andhra Solar Push

SAEL Solar MHP1 Pvt. Limited, a subsidiary of SAEL Industries Ltd., a clean energy company, has secured a debt finance amounting to of US$132 million from three global financial institutions — Asian Infrastructure Investment Bank (AIIB), New Development Bank (NDB), and Societe Generale for development of a solar power project in Andhra Pradesh.

Each institution has committed US$44 million debt funding towards the project, which was awarded through a competitive auction conducted by the Solar Energy Corporation of India (SECI). The investment will be utilized towards the execution and operationalization of the project, in alignment with India’s renewable energy objectives and the ongoing development of clean energy infrastructure in Andhra Pradesh.

Speaking on this, Laxit Awla, CEO, SAEL Industries Ltd. said, “These funds represent a major development for SAEL Industries as we continue our efforts to deliver sustainable clean energy solutions that facilitate India’s transition to a low-carbon future. The support from these institutions reflects confidence in our technical expertise and financial credibility to execute energy infrastructure. We are aligned with the state’s mission to drive forward the clean energy transition and economic development in Andhra Pradesh with this solar project.”

“By supporting SAEL solar project, Societe Generale is committed to enabling solutions that will create value for communities and the broader energy ecosystem, helping India achieve its goals of renewable energy generation adoption” said Dr. Katan Hirachand, Chief Executive Officer, Societe Generale India.

SAEL’s business spans solar and agri waste-to-energy projects across India. It has a portfolio of 6.5+ GW of Solar IPP projects, including both operational and under-development assets across India. The company operates solar module manufacturing facilities totalling a capacity of 3.5GW, utilizing TOPCon technology, further enhancing its vertical integration. SAEL also operates an agri waste-to-energy business, processing nearly 2 million tonnes of agricultural residue annually through 11 plants across Punjab, Haryana and Rajasthan, aimed to help combat pollution.

SAEL is an integrated renewable energy company with in-house Engineering Procurement and Construction (EPC), Operations and Maintenance (O&M), and manufacturing capabilities.

About SAEL:

SAEL Industries Ltd. is a renewable energy company specializing in solar and waste-to-energy. With over two decades of experience in the energy sector, SAEL is committed to providing sustainable and affordable energy solutions. The company has a renewable portfolio of 6.5+GW operating assets across the nation.

Nextracker Achieves 10 GW Solar Tracker Milestone in India

Nextracker (Nasdaq: NXT), a global leader in advanced solar energy solutions, today announced that it has surpassed 10 gigawatts (GW) of solar tracker deployments in India—a major milestone reinforcing its market leadership and the country’s accelerating solar adoption. In response to this growth, Nextracker is expanding its footprint with a new 80,000 sq. ft. office and research and development (R&D) facility in Hyderabad, reinforcing its long-term commitment serving customers throughout the region and India’s clean energy future.

With 1.8 GW of projects added in the last quarter alone, Nextracker’s India portfolio now totals over 10 GW, underscoring strong momentum in solar adoption. Recent project wins include a 305 MW project with ReNew in Anantapur, along with 1.5 GW of projects through partnerships with key EPCs (engineering, procurement, and construction companies) across the country—highlighting Nextracker’s expanding presence in India’s high-growth solar regions.

Speaking on the partnership with Nextracker for the Anantapur project, Sanjay Varghese, Group President – Solar Projects & Manufacturing, ReNew, said, “We welcome Nextracker as a partner in supporting our solar projects. As we continue to expand our footprint in renewable energy, such collaborations help in driving project efficiency and contributing to the sector’s broader goals.”

To further strengthen its presence in the world’s third-largest solar power market, Nextracker inaugurated its largest office outside the United States. The new Hyderabad hub integrates R&D, testing, and workforce development under one roof, featuring a 13-acre Center for Solar Excellence (CFSE) cutting-edge R&D and testing laboratory. Supported by a USD $1 million investment, the CFSE is dedicated to advancing local solar technology and training in India.

Building on its existing workforce of over 400 employees in India, Nextracker is accelerating its hiring efforts across engineering, manufacturing, and customer support. The Hyderabad facility will also focus on skill development initiatives to nurture local expertise in advanced solar technology and project execution.

Under the ‘Make in India’ initiative, 95% of Nextracker’s tracker components used in India are manufactured domestically. This localization supports supply chain resilience, energy security, and technology localization, enabling Indian solar developers to access industry-leading, climate-resilient solutions tailored to the country’s unique energy landscape and conditions.

Rajeev Kashyap, Senior Vice President and Managing Director, Nextracker (Middle East, Africa, and India) said, “This region is one of the world’s fastest-growing solar markets, and our Hyderabad expansion reflects our deep commitment to supporting that growth. With 10 GW of projects commissioned or under delivery, we are equipping developers with best-in-class technology optimized for the country’s diverse needs, while investing in local talent, infrastructure, and innovation to meet the country’s renewable energy goals.”

“Nextracker’s investment in advanced manufacturing is not only a significant milestone for the company, but also an important moment for India’s broader renewable energy ecosystem,” said Subrahmanyam Pulipaka, CEO, National Solar Energy Federation of India (NSEFI). “This kind of technology-driven, future-forward collaboration exemplifies what we need to achieve our national clean energy goals. By localizing the production of intelligent solar tracking systems and integrating advanced automation with domestic expertise, Nextracker is making a meaningful contribution to India's Atma Nirbhar Bharat vision in the renewable energy sector.”

“At NSEFI, we believe India’s next phase of solar growth will be driven by innovation, resilience, and self-reliance,” said Pulipaka. “Partnerships like Nextracker’s—linking global technology with domestic manufacturing—are key to scaling our energy transition while ensuring quality and sustainability. We commend their leadership and look forward to supporting more such initiatives aligned with India’s renewable energy targets.”

Adani Green to Supply 400 MW Solar Power to UP Discom from Its Rajasthan Project

Adani Green Energy Sixty Nine, a subsidiary of Adani Green Energy, has signed a power purchase agreement (PPA) with Uttar Pradesh Power Corporation Limited (UPPCL) to supply 400 MW of solar power from its Rajasthan-based project, reported news agency PTI.

This move aligns with India's push for renewable energy expansion, reinforcing Adani Green's commitment to large-scale solar infrastructure.

This 400 MW solar power supply to Uttar Pradesh Power Corporation Limited (UPPCL) is expected to have several key impacts on UP's energy market.

This agreement with Adani Green strengthens UP's renewable energy portfolio, reducing dependence on fossil fuels and aligning with India's clean energy transition.

The fixed tariff of 2.57/kWh ensures predictable pricing, potentially lowering electricity costs for consumers over time.

Beside these, the project will generate employment opportunities in solar panel installation, maintenance, and grid management, boosting the local economy. Rural areas may experience more stable electricity supply, reducing reliance on expensive or inconsistent sources.

NTPC REL Achieves Full Commercial Operation of 150 MW Gujarat Solar PV Project

NTPC Renewable Energy Limited (NTPC REL) a wholly owned subsidiary of NTPC Green Energy Limited has successfully declared the commercial operation of the final 60 MW capacity of its 150 MW Gujarat Solar PV Project, marking the full commissioning of the project in Limbdi, Gujarat. 

Limbdi, Gujarat

This solar venture was awarded under the GUVNL 500 MW Solar (Phase XII) tender.

The last segment of 60 MW commenced commercial operation on April 16, 2025. This follows the earlier commissioning of the first 60 MW on July 29, 2024, and the second 30 MW on December 11, 2024.

With this milestone, the entire 150 MW capacity of the Gujarat Solar PV Project is now operational, reinforcing NTPC REL’s commitment to advancing India’s renewable energy goals and supporting the nation’s clean energy transition.

Waree Energies Opens India's Largest Solar Cell Manufacturing Gigafactory

Waaree Energies has made a remarkable achievement by inaugurating India's largest solar cell manufacturing gigafactory in Chikhali, Gujarat.

This state-of-the-art facility boasts a capacity of 5.4 GW and spans 150 acres, with a built-up area of 101 acres. Equipped with advanced technologies like TOPCon and Mono PERC solar cells, the gigafactory aims to achieve efficiencies of up to 25%.

The facility is expected to create over 9,500 direct jobs and approximately 30,000 indirect employment opportunities, contributing significantly to India's clean energy goals and economic growth. It aligns with the "Atmanirbhar Bharat" initiative, reducing dependency on imports and positioning India as a global manufacturing hub for renewable energy technologies.

This milestone reflects India's growing prowess in the global renewable energy landscape.

Waaree Energies is a prominent player in India's renewable energy sector. Established in 1990 and headquartered in Mumbai, it is the country's largest manufacturer of solar PV modules, with an impressive installed capacity of 13.3 GW as of 2024. The company has a strong presence both domestically and internationally, with manufacturing facilities in India and the USA.

The new 5.4 GW solar cell gigafactory in Chikhali, Gujarat, is a significant addition to the global solar manufacturing landscape. While it is the largest in India, globally, there are even larger facilities. For instance, China's Longi Green Energy operates a solar manufacturing facility with a capacity exceeding 20 GW, making it one of the largest in the world. Similarly, other major players like JinkoSolar and Trina Solar also have massive production capacities.

However, India's facility stands out for its focus on reducing import dependency and aligning with the "Atmanirbhar Bharat" initiative. It also contributes significantly to employment and technological innovation in the renewable energy sector. This positions India as a growing force in the global clean energy market.

Adani Incorporates New Subsidiary Focused on Solar and Wind Energy Manufacturing

Adani Enterprises has taken a significant step in renewable energy by incorporating a new subsidiary, Adani New Industries One Limited (ANIOL). This entity, a wholly-owned subsidiary of Adani New Industries Limited (ANIL), will focus on manufacturing and services related to solar and wind energy. ANIOL will handle trading and supplying equipment like solar panels, inverters, wind turbines, and blades, aiming to strengthen the Adani Group's presence in the renewable energy sector.

The subsidiary has an authorized capital of ₹1,00,000, divided into 10,000 equity shares. While ANIOL is yet to commence operations, its establishment is a strategic move to strengthen the Adani Group's presence in the renewable energy sector.

ANIOL's focus on manufacturing solar panels, inverters, wind turbines, and blades could reduce India's reliance on imported renewable energy equipments, fostering self-reliance in the sector.

By enhancing the supply chain for solar and wind energy, ANIOL could accelerate the deployment of renewable energy projects, helping India achieve its ambitious renewable energy targets.

This move aligns with India's commitment to achieving 500 GW of non-fossil fuel capacity by 2030, as outlined in its climate action goals.

Tata Power Marks Major Milestone with 1.5 Lakh+ Rooftop Solar Installations, 3 GW Capacity; Expands Footprint across 700+ Cities

Tata Power has surpassed 1,50,000 rooftop solar installations across India, further cementing its leadership as the nation's No. 1 rooftop solar provider. The total capacity of its rooftop solar installations nationwide has now reached around 3 GW, underscoring the company’s pivotal role in India's renewable energy transformation.

With a robust presence in 700 + cities, Tata Power Solar Rooftop, a part of Tata Power Renewable Energy Ltd. (TPREL), remains at the forefront of India's transition to a sustainable, energy-efficient future. There are multiple benefits associated with Tata Power Solar Rooftop, marketed as Tata Power Solaroof, which include an 80% reduction in electricity bills, a 25-year warranty on solar modules, and a payback period of 4-7 years. This system protects against the annual increase in the electricity tariff, which typically ranges from 3-5%. Moreover, the company has been manufacturing ALMM-Approved Solar Panels in its Tamil Nadu factory.

Tata Power also offers flexible financing solutions through 20+ financial partners, including PSU and private banks, making solar adoption accessible and affordable for all. The company also plays a crucial role in supporting the government’s mission to promote solar adoption under various initiatives such as the Pradhan Mantri Surya Ghar Muft Bijli Yojana and through its flagship ‘GharGhar Solar’ campaign. By offering customized solar rooftop solutions for residential, commercial, and industrial customers, the company is contributing significantly to India’s larger goal of energy security and sustainability.

The company’s Pan-India presence is powered by a strong network of 575+ channel partners across 300+ cities, supported by 225+ authorized service partners across 400+ cities, ensuring seamless service and support. With a growing customer base of 1,50,000+ satisfied consumers, including 1,22,000+ in the residential sector, the company has established itself as the preferred solar partner for homeowners, businesses, and industries alike.

During the year, Tata Power SolarRoof through its campaigns have spread awareness of rooftop solar in India and has used moments like Kumbh and Chhath Puja to embrace the power of the sun by asking citizens to adopt solar energy. The company also introduced its latest campaign 'Aapki Roof, Aapki Takat' in January 2025 during the Makar Sankranti festival, and encouraged homeowners to harness solar energy, by repositioning rooftops to generate solar energy and transform their rooftops into sources of prosperity and personal growth.

As Tata Power Solar Rooftop celebrates this milestone, it remains dedicated to delivering superior, reliable, and affordable solar solutions that empower customers with energy independence, financial savings, and a sustainable future.

Apart from its focus on solar rooftops, Tata Power’s growing investments in solar manufacturing are strengthening the solar value chain. With a strong manufacturing base in India, Tata Power boasts a 4.3 GW cell and module manufacturing capacity, 3+ GW rooftop solar installations which demonstrates its scale and impact in accelerating India’s transition to clean energy.

NTPC Signs PPA with Indian Army for Sale of Power

NTPC and Indian Army signed a Power Purchase Agreement (PPA) on 3rd February for sale of power (200 kW RE-RTC) from Solar-Hydrogen based Microgrid at Chushul (Ladakh) for a period of 25 years.

The agreement was signed by Shri DMR Panda, CGM (NTPC-Hydrogen) and Shri Aditya Harshey, Brigadier and Chief Engineer (Indian Army), Leh.

Solar-Hydrogen based microgrid offers a solution to replace Army’s existing diesel gensets thus avoiding fossil fuel logistics arrangement and 1500 ton/year CO2.

This is world’s most unique hydrogen based off-grid microgrid project at an altitude of 4400m and temperatures dipping to -30 deg C in winter. Once operational, it would usher in a new era of decarbonisation and modernisation of the defence sector in the border locations of the Himalayas.

NTPC Renewable Energy Wins 300MW Solar Project in NHPC’s Tender

NTPC Renewable Energy Limited (NTPC REL), a wholly owned subsidiary of NTPC Green Energy Limited (NGEL), has emerged as a successful bidder in the e-reverse auction conducted by NHPC Limited. The tender aimed at the “Selection of Solar Power Developers for Setting up of 1200 MW (1.2 GW) ISTS (Inter State Transmission System) Connected Solar Power Projects with 600MW/1200MWh Energy Storage Systems (ESS) on an anywhere-in-India basis under Tariff Based Competitive Bidding with Green Shoe Option.”

NTPC REL secured a capacity of 300MW at a tariff of ₹3.09/kWh. In line with the Request for Selection (RFS) conditions, the project will include the establishment of an Energy Storage System (ESS) with a capacity of 150MW/300MWh, ensuring enhanced reliability and efficiency of the solar power generation.

The auction was concluded on 23rd January 2025, and NTPC REL is now awaiting the issuance of the Letter of Award (LOA) from NHPC Limited.

Reliance Power to Set Up Rs 6,500 Crore Solar Panel Manufacturing Unit in Andhra Pradesh

Reliance Power is planning to set up a Rs 6,500 crore solar panel manufacturing unit in the Anakapalli district of Andhra Pradesh. The project aims to use 1,500 acres of land acquired by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC). It is estimated that the project will generate 4,000 direct and indirect jobs.

Reliance Power plans to set up the solar panel manufacturing unit on 1,800 acres in the Anakapalli district.

It may be recalled that Reliance Power had previously set up a gas-based thermal power plant in Samarlakota, Andhra Pradesh, which faced financial difficulties but has since settled its debts.

This new manufacturing initiative is part of a broader effort to boost renewable energy production and create employment opportunities in the region.

Earlier in last month, Reliance Power's subsidiary, Reliance NU Suntech Private Limited, secured a significant contract from the Solar Energy Corporation of India (SECI) for developing a 930 MW solar power project along with a 465 MW/1,860 MWh Battery Energy Storage System (BESS).

Prior to that, Reliance Power has partnered with the Government of Bhutan to develop large-scale solar and hydro power projects. This partnership represents the largest FDI by an Indian company in Bhutan's renewable energy sector.

Andhra Pradesh is home to a number of solar power related projects & units including Tata Power Solar's 100MW Solar Power Plant in Anantapur. It is a utility scale project using domestically manufactured solar cells and modules.

The state also houses Giga-scale solar PV manufacturing facility of Indosol Solar at Ramayapatnam. It is a Vertically integrated facility covering every step of the value chain from quartz to finished photovoltaic modules.

In Visakhapatnam, Ameya Solar and Semiconductors Pvt Ltd has PV module focused manufacturing unit with 100MW annual production capacity.

Reliance Power Subsidiary Wins India's Largest Solar and Battery Storage Project

Reliance Power has recently made headlines with its subsidiary, Reliance NU Suntech Private Limited, securing a significant contract from the Solar Energy Corporation of India (SECI). The contract involves developing a 930 MW solar power project along with a 465 MW/1,860 MWh Battery Energy Storage System (BESS). This marks India's largest solar and battery storage project, showcasing a major leap in renewable energy infrastructure.

This project is notable for being the second-largest deployment of grid storage batteries at a single site in Asia, after China.

The project will provide four hours of peak power supply daily, offering much-needed relief to DISCOMs that often purchase power at high rates during peak hours. Reliance NU Suntech will develop the project on a build-own-operate basis, and SECI will enter into a 25-year Power Purchase Agreement (PPA) with them.

Besides this, Reliance NU Suntech has been involved in several notable projects recently. Sasan Power Ltd is one of Reliance Power's flagship projects, featuring the world's largest integrated coal-based power plant with a capacity of 3,960 MW. 

Reliance NU Suntech has been actively participating in various renewable energy projects, including solar and wind energy projects across India. The Anil Ambani promoted company has secured significant allocations in Inter State Transmission System (ISTS) -connected solar power projects, contributing to the national grid's stability and sustainability.

These projects underscore Reliance NU Suntech's commitment to expanding India's renewable energy infrastructure and promoting sustainable energy solutions.

Largest FDI by An Indian Pvt Co. in Bhutan: Reliance Power to Develop Large-Scale Solar & Hydro Power Projects

Anil Ambani's Reliance Power has partnered with the Government of Bhutan to develop large-scale solar and hydro power projects. This collaboration is part of Bhutan's efforts to achieve its net-zero goals and enhance its renewable energy infrastructure.

This partnership represents the largest FDI by an Indian company in Bhutan's renewable energy sector. The projects will support Bhutan's goal of sustainable development and clean energy production.

The investment by Reliance Power in partnership with the Government of Bhutan for the development of solar and hydro power projects is up to $1 billion.

Reliance Power Ltd. and Druk Holding will co-develop the 770-MW Chamkharchhu-1 Hydro Project, which is classified as a run-of-the-river project under a concession model aligned with Bhutan’s policies.

Druk Holding and Investments (DHI) is the commercial arm of the Royal Government of Bhutan, established in 2007. Its primary purpose is to hold and manage the existing and future investments of the Royal Government for the long-term benefit of the people of Bhutan. DHI aims to grow its investment portfolio by 10x by 2030, focusing on future-oriented investments.

In this joint venture, Reliance Power will hold a 49 percent stake, while DHI will maintain majority ownership with a 51 percent share. The project will operate under a concession model in line with the government’s policies.

Key Projects:

1. 500 MW Solar Power Plant: This will be developed in Gelephu Mindfulness City, Bhutan, in two phases of 250 MW each over the next two years 2. Once completed, it will be the largest solar installation in Bhutan 2

2.770 MW Chamkharchhu-1 Hydroelectric Project: This run-of-the-river project aims to boost Bhutan's existing power capacity.

A media release confirmed that land for the project has already been earmarked, and a technical team, consisting of experts from Reliance, DHI, and external consultants, is currently conducting site assessments and technical studies. The project is set to become one of the largest investments in Bhutan’s renewable energy sector and represents the largest FDI by an Indian company in Bhutan.

Earlier in August this year, Tata Power, one of India's largest integrated power companies, has had entered into a strategic partnership with Druk Green Power Corporation Ltd (DGPC), a subsidiary of DHI, and the sole generation utility of Bhutan for the development of the 600 MW Khorlochhu Hydropower Project.

Tata Power Secures $4.25 Bn in Financing From Asian Development Bank (ADB) for Key Clean Energy Projects

Tata Power has signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) to secure $4.25 billion in financing for key clean energy projects. 

This agreement was signed at the COP29 climate conference in Baku, Azerbaijan.

This MoU aligns with India's ambitious target to achieve 500 GW of non-fossil power generation capacity by 2030.

Dr. Praveer Sinha, CEO & MD, Tata Power said, “Our collaboration with the Asian Development Bank is a crucial step as we explore innovative financing solutions to drive transformative power sector projects. This MoU reinforces our commitment to advancing India's clean and renewable energy capacity and modernizing our power infrastructure, ensuring sustainable and inclusive growth. These initiatives align with India’s ambitious clean energy goals, contributing to energy security and environmental resilience.”

ADB Director General for Private Sector Operations Suzanne Gaboury said, “ADB is committed to fostering partnerships that promote sustainability and energy security across Asia and the Pacific. As part of this strategy, our engagement with Tata Power reflects a shared vision for a low-carbon, inclusive, and climate-resilient future, supporting India’s transition toward sustainable energy solutions.”

Key Projects

966 MW Solar-Wind Hybrid:

• Project: This project aims to combine solar and wind energy to provide a stable and sustainable power source.
• Pumped Hydro Storage Projects: These projects will help store energy for later use, enhancing the reliability of renewable energy sources.

Battery Storage Solutions:

Investing in advanced battery storage to support the integration of renewable energy into the grid.

Distribution Network Upgrades:

Financing capital expenditure to strengthen Tata Power's distribution networks.

Goals:

• Energy Security: Enhancing India's energy security by increasing the share of renewable energy in the power mix.
• Environmental Resilience: Supporting India's transition to a low-carbon, climate-resilient future.
• Inclusivity: Integrating gender and climate actions to empower women as economic agents in deploying green technologies and accessing green jobs.

This partnership aligns with India's ambitious target to achieve 500 GW of non-fossil power generation capacity by 2030.