As India’s clean energy sector enters its next phase of growth, capital markets are emerging as a critical source of financing. Renewable energy developers, engineering, procurement, and construction (EPC) companies, manufacturers, and other industry participants are increasingly tapping public markets to fund expansion, manufacturing capacity, and large-scale project development.

The Telangana Electricity Regulatory Commission (TGERC) approved the procurement of 375 MW/1,500 MWh of battery energy storage capacity, proposed by distribution companies through the Telangana Power Generation Corporation, under the Viability Gap Funding program. The Maheshwaram battery storage project was awarded to Sarus Infrastructures at a tariff of ₹298,000 (~$3,151)/MW/month, discovered through competitive bidding.

The Karnataka Electricity Regulatory Commission retained the deviation tolerance band for solar projects to ±5%, rejecting stakeholder suggestions to keep it at ±10% for at least two years. In April 2026, the Karnataka High Court stayed the enforcement of the Central Electricity Regulatory Commission’s revised deviation settlement mechanism norms for renewable energy developers, including the narrower ±5% solar deviation band, allowing developers to comply with the earlier norms for now.

Suzlon Energy secured an EPC contract to develop a 400 MW wind energy project in the Anantapur district of Andhra Pradesh, pushing the company’s orderbook in the southern state to around 1 GW. At present, Suzlon’s installed base in Andhra Pradesh is around 1.8 GW, accounting for about 28.44% of its total installed base in southern India.

Gujarat-based Torrent Power raised ₹38 billion (~$402 million) through the private placement of secured, rated, listed, taxable, non-cumulative, redeemable, and non-convertible debentures (NCDs). The company issued 380,000 NCDs with a face value of ₹100,000 (~$1,058) each.

Gujarat-based GB Solar Technologies commissioned a 2 GW solar module manufacturing facility in Karjan, Vadodara. GB Solar said the facility was commissioned on June 1, 2026, with an annual production capacity of 2 GW. It said the project involved an investment of approximately ₹2.5 billion (~$26.4 million).

Kolkata-based Jupiter International commissioned a 1.25 GW TOPCon solar cell manufacturing unit at its Baddi complex in Himachal Pradesh. The company’s total solar cell manufacturing capacity currently stands at 3.25 GW with the addition of the fourth unit at the Baddi complex.