Premier Energies is set to supply 1.6GW of solar cells and modules in the fourth quarter of 2026, under contracts valued at INR25.77 billion (US$276 million).
As key purchasers of solar power, distribution companies are central to India’s renewable energy goals. But, under severe financial strain, they could also derail those same ambitions.
India has become the third-largest country by installed renewable energy capacity, reaching 274.68, with over 150GW of solar PV capacity, according to statistics from the Ministry of New and Renewable Energy (MNRE).
PV manufacturing capital expenditure is expected to rebound this year, following two years in the doldrums as the industry weathered a global oversupply of modules, new figures show.
Sangam Solar One, a subsidiary of Indian solar PV manufacturer Waaree Energies, has commissioned a 3GW PV module manufacturing facility in Samakhiali, Kutch, Gujarat.
According to Ember, solar-plus-storage could supply up to 90% of India’s electricity demand at a levelised cost of electricity (LCOE) of INR5.06/kWh (US$56/MWh).