India Solar PV News Snippets

Engie India has placed 100 MW solar module order with RenewSys India; IREDA raises INR 6.43 billion from anchor investors ahead of IPO; Mercom releases H1/2023 solar market leadership board. 

Engie India to source India-made modules: Indian solar encapsulants, cells and modules manufacturer RenewSys India has secured a 100 WM solar module supply order from Engie India, under which it will supply monocrystalline bifacial glass-backsheet modules. The delivery is to be completed within H1/2024. Engie India will deploy these modules for its GUVNL 2 project in Gujarat for which it has signed a 25-year power purchase agreement (PPA) with the Gujarat Urja Vikas Nigam Limited (GUVNL). The deal was signed between the 2 companies at Renewable Energy India (REI) Expo held in Greater Noida in October 2023.  

IREDA's IPO update: The government of India owned Indian Renewable Energy Development Agency (IREDA) has raised INR 6.43 billion ($77 million) from its anchor investors ahead of its initial public offering (IPO) that opened on November 21, 2023 and will close on November 23, 2023. Anchor investors include Goldman Sachs, and 13 mutual funds. IREDA is the government's financial arm to support projects related to renewable energy, energy efficiency and energy conservation. 

Indian solar PV leaders: Mercom India Research in its India Solar Market Leaderboard 1H 2023 shows the leading companies in the Indian solar market. While Adani Green Energy was the leading developer with the most utility-scale solar installations in H1 this year, Tata Power Solar took the crown in the rooftop solar development space. O2 Power was the top open access solar project developer. Together, top 10 large-scale solar developers accounted for close to 52% of all utility-scale project installations. Prozeal Green Energy was the top EPC company. China's LONGi Solar led the module suppliers list, which includes top 10 companies accounting for around 52% of the market share. Among string and central inverter suppliers, China's Sungrow Power was the leader with 35% inverter shipments to India, and China's Arctech led solar tracker supplies. Strolar Mounting Systems was the top solar module mounting structures supplier, and Aegeus Technologies was the leading robotic module clean systems supplier. Both Strolar and Aegeus are Indian suppliers. The report can be purchased from Mercom's website.