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					</table><p>Jinko Solar, Waaree Energies, LONGi Green Energy Technology, Trina Solar, and Adani Solar were the top solar module <a href="https://www.mercomindia.com/jinko-waaree-longi-trina-adani-lead-solar-module-supply-in-2024" target="_blank" rel="noopener">suppliers</a> in 2024, according to Mercom’s recently released India Solar Market Leaderboard 2025. The demand for solar modules in India has been growing, driven by the unprecedented solar project installations – 25.2 GW in 2024 and India’s goal to install 280 GW of solar by 2030. India added 25.3 GW of solar module capacity, 11.6 GW of cell capacity, and 2 GW of integrated wafer and ingot capacity in 2024, according to Mercom’s “State of Solar PV Manufacturing in India 2025.”</p>
<p>The Ministry of Heavy Industries <a href="https://mercomindia.com/heavy-industries-ministry-issues-guidelines-for-electric-car-manufacturing#:~:text=Companies%20seeking%20to%20participate%20in,passenger%20cars%20within%20the%20country." target="_blank" rel="noopener">issued</a> guidelines for global manufacturers to promote the electric manufacturing of electric passenger cars in India. To encourage global manufacturers to invest under the program, approved applicants will be allowed to import completely built-in units of e-4Ws (eligible products) at a minimum cost, with insurance, and a freight value of $35,000.</p>
<p>The Appellate Tribunal for Electricity <a href="https://www.mercomindia.com/aptel-overturns-andhra-pradesh-commissions-wind-project-ppa-termination" target="_blank" rel="noopener">overturned</a> the Andhra Pradesh Electricity Regulatory Commission’s termination of a power purchase agreement (PPA) for 60 MW of Guttaseema Wind Energy Company’s 80 MW wind project. APTEL ruled that the synchronization of the first 20 MW unit on March 22, 2018, should be treated as the commercial operation date for the entire project under the PPA’s terms.</p>
<p>The Haryana Electricity Regulatory Commission <a href="https://www.mercomindia.com/haryana-releases-deviation-settlement-mechanism-regulations" target="_blank" rel="noopener">issued</a> regulations on the Deviation Settlement Mechanism and related matters. Stakeholders can submit their feedback by February 11, 2025. The Commission aims to maintain grid discipline and security through the commercial mechanism for deviation settlement. State entities must inform the state load dispatch center of all energy exchange contracts. They must also operate their generating projects and loads under the Indian Electricity Grid Code and the Haryana State Electricity Grid Code.</p>
<p>NTPC <a href="https://www.mercomindia.com/ntpc-issues-epc-tender-for-250-mw-solar-project-in-rajasthan" target="_blank" rel="noopener">invited</a> tenders for the engineering, procurement, and construction of a 250 MW ground-mounted solar power project in Bikaner, Rajasthan. Bids must be submitted on June 30, 2025. Bids will be opened on the same day. The scope of work entails the design, engineering, manufacturing, installation, testing, and commissioning of the solar project. The successful bidders must provide operation and maintenance services for three years.</p>
<p>Ferroalloy producer Indian Metals &amp; Ferro Alloys (IMFA) will <a href="https://www.mercomindia.com/ferroalloy-company-imfa-to-procure-40-mw-of-wind-solar-power-from-ampin" target="_blank" rel="noopener">procure</a> 40 MW of power from AMPIN Energy’s 116 MW wind-solar hybrid power project. IMFA has signed a long-term power purchase agreement with AMPIN’s special purpose vehicle, AMPIN Energy Utility One, for 25 years. AMPIN’s project comprises 58 MW each of solar and wind capacity. The renewable energy procurement will reduce IMFA’s carbon footprint and ensure long-term energy cost stability.</p>
<p>New Delhi-based waste and wastewater management solutions company Enviro Infra Engineers <a href="https://mercomindia.com/enviro-infra-engineers-to-acquire-solar-project-developer-sunaxis#:~:text=New%20Delhi%2Dbased%20waste%20and,for%20%E2%82%B9100%2C000%20(~%241%2C170.37)." target="_blank" rel="noopener">announced</a> it will acquire Sunaxis Renewables (Sunaxis Solar) from EIE Renewables for ₹100,000 (~$1,170.37). EIE Renewables will invest ₹100,000 (~$1,170.37) by acquiring 10,000 shares at a face value of ₹10 (~$0.117) per share.</p>
<p>Wind energy solution provider Inox Wind <a href="https://www.mercomindia.com/inox-wind-logs-highest-ever-quarterly-profit-in-q4-order-book-grows-21" target="_blank" rel="noopener">reported</a> its highest-ever quarterly profit in the fourth quarter of the financial year 2025. The company reported a profit after tax of ₹1.9 billion (~$22.2 million), a 391% year-over-year increase from ₹390 million (~$4.5 million). Its revenue increased 130% to ₹13.11 billion (~$153 million) from ₹5.69 billion (~$66.6 million) in the same period of the previous year.</p>
<p>European Commission-backed solar panel manufacturer, Heliup <a href="https://www.mercomindia.com/heliup-begins-manufacturing-lightweight-solar-modules-in-france" target="_blank" rel="noopener">commissioned</a> its pilot 100 MW solar module manufacturing facility, which will focus on producing lightweight modules utilizing ultra-thin glass. The manufacturing plant, located in France, will produce these lightweight modules for rooftop installations on roofs with low bearing capacity. The modules are considered ideal for buildings with flat rooftops.</p>
<p>The California Independent System Operator, the grid operator for most of the state, is <a href="https://www.mercomindia.com/caiso-solar-wind-power-electricity-curtailment-grid-operator" target="_blank" rel="noopener">increasingly</a> curtailing solar and wind-powered electricity generation to balance supply and demand amid rapid renewable energy capacity growth, according to a report by the U.S. Energy Information Agency. The grid operator maintains a balance between power demand and supply and a stable electrical system.</p>
<p>Researchers at the Massachusetts Institute of Technology <a href="https://mercomindia.com/mit-research-demonstrates-29-boost-in-silicon-solar-cell-efficiency" target="_blank" rel="noopener">demonstrated</a> a new interface architecture that pushes the traditional silicon solar cell’s efficiency beyond the long-standing single-junction theoretical limit of 29.4%. The study focused on integrating the singlet exciton fission with crystalline silicon cells through interfacial and device-level engineering. The findings present a promising route to achieving efficiencies of up to 42%, offering a path toward low-cost, high-efficiency solar technology.</p>


Daily News Wrap-Up: Leading Solar Module Suppliers in 2024


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					</table><p>Ferroalloy producer Indian Metals &amp; Ferro Alloys (<a href="https://www.imfa.in/company/manufacturing-cycle.htm" target="_blank" rel="noopener">IMFA</a>) has announced a joint venture with <a href="https://www.jsw.in/energy" target="_blank" rel="noopener">JSW Green Energy</a> to source 70 MW of renewable energy for its smelting operations.</p>
<p>IMFA has signed a binding term sheet with JSW Green Energy One and JSW Green Energy Seven, investing ₹832.6 million (~$9.8 million) in a wind-solar hybrid project that combines 50 MW solar and 100 MW wind.</p>
<p>The company will also sign a power purchase agreement as a captive consumer valid for 25 years.</p>
<p>IMFA consumed 18,881 joules of renewable energy in the financial year 2023-24, as per its annual report. The company has also taken various measures to reduce its carbon emissions and switch to green energy.</p>
<p>The company has two 4.5 MW solar projects at Therubali with capacities of 3 MW and 1.5 MW, and a 50 kW rooftop solar system</p>
<p>It also said that a 50 MW green energy expansion for the Kalinganagar facility is in the . Additionally, it also installed 43 kW and 8 kW rooftop systems at SMC substation.</p>
<p>The company said in the annual report that future power requirements will largely be met through hybrid renewable energy, which will enable the company to meet its energy transition targets.</p>
<p>Recently, JSW Energy’s special purpose vehicle JSW Green Energy Eight also <a href="https://www.mercomindia.com/indus-towers-to-procure-solar-power-from-jsw-energys-130-mw-solar-project" target="_blank" rel="noopener">signed</a> a power purchase agreement to supply power to Indus Towers in captive mode. Indus has also proposed to invest approximately ₹380.3 million (~$4.4 million) to acquire 26% equity shares in the SPV.</p>
<p>In 2023, corporations <a href="https://www.mercomindia.com/corporate-buying-clean-energy-2023" target="_blank" rel="noopener">announced</a> a record 46 GW of solar and wind contracts, with a 12% year-over-year increase from 41 GW in 2022, per Bloomberg New Energy Finance’s Corporate Energy Market outlook report.</p>


IMFA Announces Joint Venture with JSW to Source 70 MW Renewable Energy

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