Last Updated on December 3, 2025 by Author
India’s renewable energy sector continued its strong upward trajectory in Q3 2025, with cumulative installations reaching 247.3 GW as of September 30, 2025, according to the latest update from JMK Research & Analytics. Solar remained the dominant contributor with 52% of the total renewable mix, followed by wind at 21% and large hydro at 20%.
Between January and September 2025, India added nearly 22.5 GW of utility-scale solar, marking a 70.3% increase over the same period in 2024. The rooftop solar segment also saw remarkable momentum, with 5.8 GW added, up 81.6% year-on-year. Wind installations grew significantly, with 4.96 GW added in the first nine months—an 89% jump compared to the 2.63 GW added last year.
During Q3 2025 alone, utility-scale solar additions stood at 8.06 GW, registering a modest 5% decline from Q2 2025. The wind segment added 1.5 GW, down 11% quarter-on-quarter. The rooftop solar market, however, recorded strong quarterly growth with 2.7 GW installed, up 45% from the previous quarter.
Looking ahead, JMK Research projects robust capacity additions in FY2026, with 41.5 GW of new solar installations expected—32 GW from utility-scale plants, 8 GW from rooftop systems, and 1.5 GW from off-grid solutions. The wind sector is forecasted to add around 6.1 GW during the same period. Over the next two quarters alone, India is expected to add 15.68 GW of utility-scale solar and 3.1 GW of wind capacity.
In market share rankings for Q3 2025, Sungrow led the inverter segment with 3.76 GW of shipments, followed by TBEA (3.1 GW) and Sineng (2.56 GW). In the module category, Waaree emerged as the top supplier, shipping 1.4 GW during the quarter. In project development, the country’s largest players as of September 2025 include Adani (40.5 GW), ReNew (22.9 GW), NTPC (16.9 GW), Greenko (15.4 GW) and JSW Energy (15.12 GW) across total installed and pipeline capacity.
Tendering activity saw 13 new tenders issued in Q3 2025, totaling 6.3 GW, up 26.3% from Q2 2025 but sharply lower—by 66%—compared to Q3 2024. About 2 GW was allocated during the quarter, 10% lower than Q2 2025 and down 72% year-on-year.
Investments in India’s renewable energy sector reached USD 3.95 billion during the quarter, an 18.9% decline from Q2 2025. Meanwhile, module prices saw a slight upward movement, with mono-PERC 500 Wp modules priced at INR 18.12/Wp, up 2.37% from Q2.
Manufacturing activity remained strong, with 11 GW of modules shipped by 28 major players, the top five accounting for roughly 44% of the market. Module exports stood at 883 MW, contributed by seven key manufacturers.
In the trading segment, IEX’s Green Day-Ahead Market (GDAM) recorded 964 MU in Q3 2025, an 18.28% quarter-on-quarter increase. However, total green power traded (GDAC + GTAM) reached approximately 80 million units, reflecting a 22% decline from Q2 2025 but a 25% rise compared to Q3 2024.
India’s renewable energy transition continues to gather momentum, supported by strong solar and wind growth, improving rooftop adoption, and expanding domestic manufacturing capacity. The sector is poised for significant acceleration in the coming quarters as large-scale utility projects and distributed solar systems continue to scale nationwide.
