Top 5 Solar PV Manufacturers in India in 2020

With support from safeguard duty and domestic content requirement (DCR) tenders, large Indian manufacturers competed aggressively with Chinese suppliers and managed to secure a significant share of the market

June 06, 2020. By News Bureau

In 2019, the top 10 solar module suppliers represented 62% of the total market share. Last year, Mono PERC modules made up around 10% of the module market in India, while the remaining 90% came from polycrystalline modules.

With support from safeguard duty and domestic content requirement (DCR) tenders, large Indian manufacturers competed aggressively with Chinese suppliers and managed to secure a significant share of the market.

Waaree Energies:

Waaree Energies being primarily in solar PV module manufacturing has lately seen the demand from Indian rooftop segment. Witnessing this demand, Waaree energies has expanded increased its module manufacturing capacity by 500 megawatts to 2,000 MW. With the manufacturing facility based in Gujarat, the company has now upgraded the production capacity to 5.7 MW per day. Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India’s largest Solar PV Module manufacturing capacity of 2 GW’s at its plants in Surat and Umbergaon in Gujarat. Waaree Energies is amongst the top player in India in providing EPC services, project development, rooftop solutions, and solar water pumps and also as an Independent Power Producer.

Adani Solar:

Making a remarkable name by creating the Kamuthi Solar Power Project (The only reported largest single location solar power plant in the world), Adani Power leads the solar projects in this country. Adani solar has taken MW projects in a scenario and have helped commissioned them successfully under his hat. Headquartered at Ahmedabad, Gujarat, Adani Power is India’s largest private thermal power producer, with capacity of 12,410 MW. Adani Power was ranked as the 73rd largest corporation in India in Fortune India 500 list of 2018. The company has gone to long term PPAs of about 9,153 MW with government of Gujarat, Maharashtra, Haryana, Rajasthan, Karnataka, and Punjab. In 2018, Adani was reported the top-notch solar project developer.

Risen Energy

Risen Energy Co., Ltd, a leading, Tier 1 manufacturer of high-performance solar photovoltaic products, was recently reaffirmed as maintaining its all-out, leading volume supplier of solar PV modules status for 2019, by the venerable Bridge to India's insight into the Indian renewable energy arena. Risen has stamped their credentials into the diverse and competitive Indian market, rising to the top of the myriad of solar PV suppliers during 2018. Determined not to allow such successes to diminish their customer centric results orientated approach, Risen doubled down on its efforts in 2019, fending off determined peers and sating an increasingly voracious customer base with further developments of technology and commercial acumen designed to deliver increased customer tangible benefits. This strategy has seen Risen maintain their number 1 volume supplier position with highest market share, whilst accruing in excess of 3.6 GW module installations in India. 

Vikram Solar Pvt. Ltd.

Vikram Solar Pvt. Ltd. is a company that specializes in high-efficiency PV module manufacturing comprehensive solutions. With an international customer base across six continents, Vikram Solar is an active contributor in shaping the solar revolution and one of the globally recognized solar energy providers.

Vikram Solar was established in 2006, but it has been carrying forward the four-decade legacy and extensive manufacturing of its parent company, Vikram Group. As of right now, Vikram Solar has shipped about 1.3 GW worth of high-efficiency modules all over the world, and they also have over 750 MW of projects in India and in other countries. Because of the fact that their products are designed to the highest standards of quality, it is then no wonder that Vikram Solar is considered a Tier 1 PV module manufacturer.

Tata Power Solar:

Tata Solar has one of the biggest and oldest solar panel manufacturing operations in India. Tata Solar is engaged in manufacturing and providing EPC services. The company has a strong presence in industrial, commercial, both on-grid and off-grid solar projects, and residential segments. Tata Solar has shipped close to 1.4 GW of solar modules worldwide and installed 1.5 GW of utility scale and 200 MW of rooftop solar projects in India, in the past 20 years.

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