India added nearly 3.8 GW of solar open access capacity in the first half (1H) of 2025, an over 4% decrease from 3.9 GW installed in the same period of 2024, according to Mercom India’s Q2 2025 Solar Open Access Market Report. Installations in 1H 2024 were higher as many open access developers expedited project commissioning before the reimposition of the Approved List of Models and Manufacturers. However, installations for 1H 2025 saw a slight dip, mainly due to delays in connectivity approvals and the limited availability of transmission infrastructure in the first quarter.

The average system cost of large-scale solar projects fell again in the second quarter of 2025, continuing the steady downward trend. Indian TOPCon-based projects remain the most expensive, while Chinese mono PERC projects continue to come in at the lowest cost. On a quarterly basis, costs declined across the board. Indian DCR TOPCon dropped 1.3%, Indian DCR mono PERC 1.2%, Indian TOPCon 1.6%, Indian mono PERC 3.5%, Chinese TOPCon 1.5%, and Chinese mono PERC 1.5%. Chinese mono PERC accounted for the lowest share of total project cost at 38.9%, while Indian DCR TOPCon stayed at the top at 61.9%.

The Haryana Electricity Regulatory Commission approved the procurement of 15 MW of solar power by the Haryana Power Purchase Centre at a tariff of ₹2.99 (~$0.0338)/kWh. The Commission held that the tariff is competitive, reasonable, and lower than the average power purchase cost of the state distribution companies for the financial year 2026. In 2024, the Steering Committee for Power Planning issued a tender to procure 500 MW of solar power with a maximum of 10 MW per developer. Bids were received from five bidders, including Ramsons Organic.

Austria-based international technology group ANDRITZ received an order from Adani Green Energy for the 1,800 MW Gandikota pumped storage project, located in the YSR Kadapa district of Andhra Pradesh. ANDRITZ will supply reversible pump turbines, motor-generators, and related electromechanical equipment. The value of the order has not been disclosed. This is the third contract awarded to ANDRITZ by Adani Green, following the order of the 1,500 MW Tarali project earlier this year, and the award of the 500 MW Chitravathi project in 2023.

SJVN invited bids to procure power from 600 MW of wind projects connected to the interstate transmission system (ISTS). The last date to submit bids is October 20, 2025. Bids will be opened on October 23. The scope of work covers setting up these projects, including the transmission network up to the interconnection/delivery point. The projects also include installation and maintenance of a GPS-enabled automatic weather station. The power generated by SJVN from the wind power projects will be sold to the Punjab State Power Corporation or other purchasing entities.

In line with the trend of Indian businesses switching to clean energy sources, healthcare company KMC Speciality Hospitals will procure solar power from a renewable energy project of Gardenia Energy. The hospital chain, with facilities in Tamil Nadu and Bengaluru, acquired a 26% equity stake in Gardenia Energy to qualify as a captive consumer of solar power for its Maa Kauvery Hospital unit. The investment involves the purchase of 2,600 equity shares at ₹10 (~$0.12) each, amounting to ₹26,000 (~$312.31), and has been structured as a restrictive investment with no control over Gardenia Energy.

Energy storage systems, power management, and optical fibre solutions company Pace Digitek received approval from the Securities and Exchange Board of India for its initial public offering (IPO) of shares to raise ₹9 billion (~$102 million). The company filed the draft red herring prospectus for the IPO in March this year. The IPO will consist of a fresh issue of equity shares with a face value of ₹2 (~$0.023) per share. Unistone Capital is the book-running lead manager for the IPO.

Solar module manufacturer GREW Solar, a subsidiary of Chiripal Group, raised ₹3 billion (~$34.09 million) from a group of investors, including those from GeeCee Holdings. Grew Solar will utilize the funds to develop new products, strengthen its technological infrastructure, and drive capacity expansion across its facilities. The new funding comes as the company plans to increase the capacity of its module manufacturing facility in Dudu, Rajasthan, to 11 GW.

Energy solutions provider ILJIN Electronics India, the electronics division of Amber Group, secured ₹12 billion (~$136.32 million) in strategic funding through separate definitive agreements with ChrysCapital and InCred Growth Partners Fund I (InCred PE), along with their respective affiliates. ChrysCapital will contribute ₹11 billion (~$124.96 million), while InCred PE will invest ₹1 billion (~$11.36 million) as equity and compulsory convertible preference shares. The transaction is subject to regulatory approvals.