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In Q3 2025, Indian module manufacturers accounted for over 95% of market shipments. Waaree led the pack, powered by its advanced, backward-integrated manufacturing capabilities, robust supply chain, and reputation for quality and innovation.

India’s Solar Surge: Industry Context

India’s solar sector witnessed addition of approximately 8.06 GW utility-scale and 2.7 GW rooftop solar capacity this quarter, pushing cumulative installations to 127 GW as of September 2025. Waaree’s ongoing market leadership reflects the company’s exceptional execution as the country accelerates towards its 500 GW renewable energy target.

Driving the Manufacturing Renaissance

During Q3, Waaree added another 1.8 GW of module capacity and 4.2 GW of cell manufacturing, reinforcing the brand’s commitment to India’s solar self-reliance. The company exported 37.9% of its Q3 module production even in a challenging global trade environment, highlighting its global competitiveness and innovation edge.

Waaree has evolved into a comprehensive energy transition company offering solar EPC solutions, battery energy storage systems, transformers, solar inverters, green hydrogen solutions, and energy infrastructure including developing data centre capabilities. This integrated portfolio enhances Waaree’s ability to support India’s clean energy ambitions with end-to-end, future-ready solutions

“Waaree’s continued leadership in the Indian solar module market underlines our commitment to powering the nation’s clean energy transformation and building for the world. As the sector expands at record pace, we remain focused on scale, quality, and innovation that drive value for customers and the energy ecosystem,” said Mr. Sunil Rathi, Executive Director, Waaree. 

With JMK Research projecting 41.5 GW of additional solar capacity to be installed in FY2026, Waaree is set to play a critical role in supporting India’s future-ready, Atmanirbhar (self-reliant) solar vision.

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India’s diverse energy portfolio is further being strengthened through nuclear power, energy storage, pumped storage projects, and green hydrogen initiatives, with targets to develop 100 GW of nuclear capacity by 2047, 13.22 GWh of battery energy storage, and at least 5 MMT of green hydrogen capacity by 2030. These comprehensive measures aim to ensure a resilient, affordable, and sustainable energy system that supports the country’s goal of achieving net-zero emissions by 2070, while fostering economic development and addressing climate change challenges.

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CORE Academy focuses on building a future-ready workforce in key domains such as Wind Energy, Solar PV Systems, Energy Storage, Pumped Hydro Storage, and Electrical Safety, all pivotal to India’s clean energy transition. The launch of Certificate, Diploma, and Advanced Diploma programs in Wind, Solar, and Safety in RE at YCMOU marks a significant step in making specialized skilling programs accessible to a wider and more diverse learner base. These programs blend academic depth with hands-on industry experience, ensuring learners gain both theoretical knowledge and practical exposure preparing “RE Commandos” who are immediately employable and industry-ready. 

The curriculum aligns with the National Skill Qualification Framework (NSQF) under the Ministry of New and Renewable Energy (MNRE). Each course has been developed in-house by industry experts at POWERCON, combining the company’s extensive operational experience with globally benchmarked training practices. The programs cater to students, working professionals, and individuals seeking skill certification in RE technologies, with flexible course durations ranging from three months to one year.

Commenting on the launch, Mr. Praveen Kakulte, CEO of The POWERCON Group, said, “We experienced a critical gap between what the RE industry needed and what training institutions delivered. So, CORE Academy was born to create programs designed by practicing engineers, not just educators. Today, we are proud to see our approach shaping professionals who are technically skilled, adaptable, and ready to thrive in a fast-evolving global RE industry.” 

CORE Academy has trained 6000+ students and facilitated placements across 25 leading RE companies. The partnership with YCMOU further strengthens the Academy’s reach and impact, enabling large-scale access to RE education and empowering the next generation of green energy professionals for India.

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Shri Das noted that India’s RE capacity has tripled since FY14 and is set to double again by FY2030, requiring an additional ₹28 lakh crore in investments.

With a vast RE potential, driven by Hydropower and Solar energy—the North-East stands poised to play a key role in India’s clean energy future. The North-East region has achieved significant progress in clean energy, with approximately 5 GW of renewable capacity — accounting for nearly 60% of its total installed power generation capacity.

IREDA has already sanctioned over ₹3,500 crore in financing to the region, offering concessional interest rates for RE projects, including a 50 basis points rebate for projects in the North-East and 50 basis points rebate for women-led projects. Under flagship schemes like PM-KUSUM and Rooftop Solar, IREDA has supported thousands of solar installations, including 3,800 solar pumps in Tripura and several rooftop projects across Assam.

Shri Das emphasized that with strengthened grid connectivity, targeted reforms, and innovative financing, the North-East can emerge as a green energy hub for India and beyond. “The North-East is our green frontier, IREDA is committed to empowering the region with clean, affordable, and reliable renewable energy”, he emphasized.

As a matter of fact, the majority of business vertical heads in IREDA as on date are from the Northeast, enabling a deeper understanding of local opportunities and challenges in renewable energy development.

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• Coal production increased by 25.60% to 74.87 LT compared to H1 2024-25.
• Gross power generation reached 13,375.87 MU, with 1,126.53 MU from renewable energy.
• Revenue grew by 13.77% to Rs. 8,004.02 Cr.
• Total Profit After Tax (PAT) rose by 0.96% to Rs. 1,564.01 Cr.
• EBITDA increased by 0.61% to Rs. 3,190.17 Cr.
• Net-worth as of 30.09.2025 rose by 12.35% to Rs. 19,965.62 Cr.

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Loan sanctions surged by 86% to ₹33,148 crore in H1 FY 2025-26, compared to ₹17,860 crore in the same period last year. Loan disbursements also recorded healthy growth, rising 54% to ₹15,043 crore from ₹9,787 crore in H1 of FY 2024-25. The company’s outstanding loan book stood at ₹84,445 crore as on September 30, 2025, reflecting a 31% increase over ₹64,564 crore in the corresponding period of the previous financial year.

Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said, “The momentum achieved in the first half of this financial year is a clear indication of IREDA’s continued leadership in renewable energy financing. We will build on this foundation to further scale up support for clean energy projects in alignment with the nation’s green energy goals.”

He expressed gratitude to the Hon’ble Union Minister for New & Renewable Energy; Hon’ble Minister of State for New & Renewable Energy; Secretary, MNRE; Board of Directors; and all stakeholders for their constant guidance and support. He also appreciated Team IREDA for their dedication and contribution towards sustaining continuous growth.

Figures are provisional and subject to audit.

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The newly launched training program aims to bolster technical expertise and develop a skilled workforce for India’s expanding solar manufacturing sector, focusing on advanced processes, quality control, and best practices to foster a self-reliant and competitive ecosystem. During the event, Joshi also interacted with 28 women trainees from 15 countries participating in an international solar energy training program, emphasizing the role of women’s empowerment in renewable energy development. He highlighted that these initiatives, launched during Seva Parv and Navratri, embody the spirit of collective service and nation-building, aligning with India’s vision of Viksit Bharat. Joshi reaffirmed that these efforts provide a scientific roadmap, skilled manpower, and manufacturing capacity essential for positioning India at the forefront of the global clean energy transition, ensuring energy security, economic growth, and environmental sustainability.

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The newly inaugurated transmission schemes are designed to efficiently evacuate renewable power generated in the Khavda region to Gujarat and other Western Region constituents, enhancing power supply stability and supporting India’s clean energy goals. These initiatives are expected to accelerate the development of renewable energy in the region, fostering sustainable growth and energy security.

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