India Solar Energy Market Highlights – March 2025

The India Solar Energy Market in March 2025 has advanced along with huge investment, partnership, and announcement of various projects to move the country towards massive use of renewable energy resources. This article provides an ohttps://univdatos.com/reports/india-solar-energy-marketutline of trends in the sector, including giant solar energy projects as well as partnerships affiliated with the goal of fostering the spread of solar energy throughout the country.

Solar Projects and Plant Inaugurations
 

1. PM Surya Ghar: Muft Bijli Yojana Achieves Major Milestone

On March 13, 2025, the Ministry of New and Renewable Energy declared that the initiative PM Surya Ghar, also known as Muft Bijli Yojana, the largest rooftop solar programme in the world, provided electricity to over 1 million homes till March 10, 2025. Prime Minister, Mr. Narendra Modi, launched this scheme on February 13, 2024, and so far, as many as 4,730,073 applications have been filed, and Rs. 4,770 crore has been released for the subsidy amount offered to 61,300 beneficiaries. It is intended to achieve 30 GW of rooftop solar capacity by March 2027 and will go a long way towards achieving the solar mission of India.

• Scope: The project falls under India’s ever-growing initiatives for decentralized solar systems and focusing on commercial as well as industrial sectors for rooftop solar power generation.

• Impact: It will add the most to the overall capacity of India's solar energy and move the corporate world towards sustainable power.

Remarkable Progress Across Several States

The Government is actively monitoring the progress across all states to ensure the smooth and timely execution of the scheme, with the goal of reaching 1 crore households by 2026-27.

Top 5 states with the highest number of households benefiting under the PM Surya Ghar: Muft Bijli Yojana (PMSGMBY)

Source: Ministry of New and Renewable Energy, PIB.gov, March 2025. This data represents the distribution of households across different states as of January 27, 2025.

Subsidy Details

The subsidy provided under the scheme varies based on the household's average monthly electricity consumption and the corresponding suitable rooftop solar plant capacity:

Source: Ministry of New and Renewable Energy, PIB.gov, March 2025.

2. KPI Green Energy’s 50 MW Hybrid Power Project

Partial funding of the KPI Green Energy’s 50 MW hybrid power plant project located in Bharuch, Gujarat, was announced on March 19, 2025. KPI Green Energy has got the final nod from National Bank for Financing Infrastructure and Development (NaBFID) for credit facilities of Rs. 272 crore, for part financing of the 50MW hybrid power plant consisting of 75.2MWp solar and 16.95MW wind at Bharuch, Gujarat.

This project will be developed under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam. This financial assistance will play a crucial role in developing the project, with the goal of completing it within the stipulated timeframe.

Key Investments and Partnerships

3. Brookfield’s Major Asset Sale to Gentari

Brookfield Asset Management divested its 1.6 GW portfolio encompassing only solar and wind assets in India on the 5th of March, 2025, to Gentari Renewables India. Thus, the proposal is in two parts, the first is the core of the cooperation with all the major details, while the second is the annex where additional elements are presented. The first segment of the plan concerning 1 GW of operating assets is closed. This is the first time that Brookfield is fully monetizing its portfolio for its Renewable Power & Transition business in India.

This will help Gentari to achieve its sustainability objectives while diversifying its presence in Asia’s expanding cleaner energy market.

4. Jindal India’s 300 MW Solar + Storage Project

On March 24, 2025, Jindal India Renewable Energy secured a 300 MW solar plus storage project from NHPC on a Build-Own-Operate (BOO) basis. A major part of the project includes a 25-year power purchase agreement with NHPC to purchase solar power generated at Rs 3.09/kWh and supply it to the state utilities. The energy storage system will have a battery backup capacity of 600 MW for 2 hours.

This project will assist in resolving the grid stability problems and play a part in achieving the renewable energy goals of the country. The Indian electricity sector will also benefit from a steadier green electricity supply.

5. TPREL and Andhra Pradesh’s 7 GW Clean Energy Agreement

On March 7, 2025, Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited and a leading player in India’s renewable energy sector, signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh to collaborate and explore opportunities in the development of renewable energy projects in the state. 

• Under this strategic partnership, TPREL, along with the Government of Andhra Pradesh, will identify and develop Renewable Energy (RE) opportunities totaling up to 7 GW (7,000 MW) of solar/Wind/Hybrid with/without storage solutions.

• The estimated investment in these projects stands at approximately ₹ 49,000 crore, making it one of the largest renewable energy investments in the state.

• The proposed capacities would be set up under Andhra Pradesh’s Integrated Clean Energy (ICE) Policy, a landmark clean energy framework that aims for the State to develop over 160 GW of renewable energy with an investment potential of ₹10 lakh crore.

Policy Developments and Future Projections

6. NTPC’s 5 MW Solar Project in Great Nicobar

On March 11, 2025, NTPC Green Energy Ltd, a subsidiary of NTPC Limited, invited bids for a 5 MW solar project with a 4 MW/12 MWh battery storage system in Great Nicobar Island. The project must be completed in 6 months. The last date for the submission of bids is April 18, 2025. The techno-commercial bids will be opened on April 21, 2025.

India’s Solar Energy Future: Bright and Promising

India’s solar energy market is rapidly growing, with major players and projects planned to contribute to India’s energy goals and targets. Thus, with an attempt at reaching 500 GW of renewable energy by 2030, the solar sector plays an essential role in realizing the goal of a renewable future in India. India sees tremendous support from developer players such as Brookfield, Tata Power, Jindal India, and NTPC, as well as strong government support for clean energy, aside with several years of becoming the solar power generation hub of the world.