Indian corporates taking hold of domestic solar market

Bridge to India's 'India Solar Map 2016'. Credit: Bridge to India

Indian corporates are taking a significant share of the domestic solar PV market with Indian conglomerate Adani taking top spot in terms of capacity additions in the last year, according to consultancy firm Bridge to India.

The ‘India Solar Map 2016’ shows that the only foreign developers to make the top 10 installers were US-based firm First Solar and now bankrupt SunEdison, whose Indian assets are set to be acquired by Hyderabad-based firm Greenko Group. Adani and ACME are expected to continue dominating with large pipelines of 1.3-1.4GW each.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The following table shows developers’ installed capacity combined with pipelines:

Credit: Bridge to India

India’s installed solar capacity grew by more than 80% from Q3 2015 to Q2 2016, with 3.6GW additions dominated by southern states with high irradiance levels.

For manufacturers, 8 out 10 lead module suppliers are from China compared to just 4 out of 10 in the previous year, with Canadian Solar, Trina Solar and First Solar topping the market this year.

ABB continues to dominate the supply of inverters and now commands a 35% market share, with  Japanese firms TMEIC and Hitachi both able to gain a significant market share.

Bridge to India noted that most developers have in-house EPC capabilities resulting in 48% of the capacity commissioned in India being built by these in-house teams.

Vinay Rustagi, managing director, Bridge to India, said: “With a significant growth in market size, we have seen the player landscape evolving. Indian corporates are again asserting themselves in the project development space, new Chinese module supply entrants are competing with counterpart bellwethers like Trina Solar and Canadian Solar for market share and European and Japanese inverter suppliers successfully compete with Chinese companies by assembling in India.”

8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
11 March 2025
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

May 29, 2024
Chinese solar manufacturer LONGi has launched a new solar module which it said exhibits the benefits of standardised module and wafer sizes in the solar industry.
May 29, 2024
The challenges facing Europe's solar sector are explored in depth in the latest edition of our quarterly journal, PV Tech Power.
May 29, 2024
Trina Solar has signed an agreement with two Korean companies to develop two solar projects with a combined capacity of 100MW.
May 28, 2024
The module procurement tenders of China's state-owned enterprises have always been a barometer, revealing the fierce competition within the industry over everything from module technology to pricing.
May 24, 2024
Singapore-headquartered solar manufacturer Maxeon has failed to sue fellow manufacturer Aiko Solar over alleged solar technology patent infringement.
May 24, 2024
Solar project developer Recurrent Energy has secured a €674 million (US$730 million) revolving credit facility to expand its European solar and battery energy storage system (BESS) portfolio.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece