Saatvik Solar’s Odisha factory under construction: Saatvik Solar Industries Private Limited (SSIPL), a wholly-owned subsidiary of Indian solar PV manufacturer Saatvik Green Energy Limited (SGEL), has started constructing its integrated solar PV manufacturing factory in Odisha. This integrated factory will host 4.80 GW of cell and 4 GW of solar PV module production capacity, which will become operational by the end of FY 2027 and FY 2026, respectively. As of February 28, 2025, its total operational module manufacturing capacity stood at 3.80 GW. The manufacturer plans to support its Odisha factory with proceeds from a planned initial public offering (IPO) for INR 11.5 billion (see India’s Saatvik Solar Seeking INR 11.5 Billion Through IPO).
$100 million for Serentica: India-based commercial & industrial (C&I) renewable energy company Serentica Renewables has raised $100 million in debt financing for a 300 MW solar power plant in Rajasthan. With these proceeds from the Netherlands’ Rabobank and France’s Société Générale, it has achieved financial close for its 2nd External Commercial Borrowing (ECB) financing. The project is contracted to supply clean energy to aluminum producer and Vedanta Group subsidiary Bharat Aluminum Company Limited (BALCO).
282 MW RE deal for Jindal Steel: Independent power producer (IPP) Oyster Renewable Energy says that steel producer Jindal Stainless Limited (JSL) is now its partner in the development of a 282 MW hybrid renewable energy project. The facility with 181 MW wind and 135 MW solar capacity will be located in the states of Gujarat and Madhya Pradesh. This Indian Renewable Energy Development Agency (IREDA) project will supply close to 700 million units of clean energy to JSL while lowering its cost and boosting export competitiveness, according to Oyster. The IPP aims to deploy 2 GW by 2030.
Involt Energy’s solar cell factory: Solar technology startup Involt Energy has started the construction of an n-type TOPCon solar cell production factory in Rajkot, Gujarat. It will host 1.78 GW of annual manufacturing capacity. It will be commissioned by June 2026. According to local media reports, under Phase II, Involt plans to expand its capacity with another 3 GW cell line and a 3 GW wafer manufacturing factory. Involt’s domestic solar cell factory plans follow the government’s plans to bring in the Approved List of Models and Manufacturers (ALMM) Lits-II for locally produced solar cells, from June 1, 2026 (see India To Impose ALMM For Solar Cells From June 1, 2026).
NTPC energizes over 300 MW solar capacity: NTPC Limited has announced the commissioning of 193 MW out of the 245 MW capacity of its Nokh Solar PV Project in Rajasthan. This facility will host 3x245 MW on completion. It also reported a successful commercial operation date (COD) for 110.25 MW out of the 1.255 GW Khavda 1 Solar project in Gujarat through its subsidiary NTPC Renewable Energy Limited (NTPC REL). With this capacity, NTPC counts an increase in its total installed and commercial capacity on a standalone and group basis to 59.6 GW and 80.7 GW, respectively.
MSIL adds 30 MW PV capacity: Publicly listed Indian subsidiary of Japanese automaker Suzuki Motor Corporation, Maruti Suzuki India Limited (MSIL) has expanded its solar capacity by 30 MW. It commissioned a 20 MW solar power project at its new facility in Kharkhoda, Haryana and 10 MW solar capacity at its Manesar facility. This expands its total solar capacity across all locations from 49 MW to 79 MW in the last year. By 2030-31, it targets to increase it further to 319 MW for INR 9.25 billion ($111.45 million). It will expand the share of renewable energy sources in the company’s total electricity consumption to nearly 85%.
NIRL & MAHAPREIT JV: State-owned NLC India Limited’s wholly-owned subsidiary NLC India Renewables Limited (NIRL) has entered a joint venture agreement (JVA) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT). The JV targets to develop up to 2 GW of renewable energy projects, including solar, wind, hybrid, floating solar, battery energy storage system (BESS), pumped storage and solar parks in Maharashtra. Under Phase I, it will focus on developing 500 MW, eventually scaling it up to 5 GW. While MAHAPREIT will facilitate in identification and allotment of land for the projects and support the development of a power evacuation system to the grid, NIRL will prepare detailed project reports, arrange finance and development of renewable energy projects.
RenewSys in Kiwa PVEL 2025 Scorecard: US-based independent testing laboratory Kiwa PV Evolution Labs (PVEL) has named India’s vertically integrated solar PV manufacturer RenewSys India Pvt. Ltd. as a Top Performer in its 2025 PV Module Reliability Scorecard. The company says its products had to clear several rigorous tests to secure this recognition. According to PVEL’s 2025 Scorecard, 21 model types achieved the top performer status in all reliability tests (see Test Failures Surge In Kiwa PVEL’s 2025 Module Reliability Scorecard).