India Solar Energy Market Highlights – May 2025

During May 2025, India’s renewable energy sector picked up momentum at large, with several key players in the public and private sectors pushing through large-scale solar and hybrid projects. Companies such as NTPC Green, Reliance Power, Adani Green, ArcelorMittal, and Jindal Group demonstrated excellent commitment to India’s 500 GW target of non-fossil capacities through the commissioning of new capacities, long-term PPAs (Power Purchase Agreements), and financial closures. Strategic developments in solar+battery hybrids, round-the-clock (RTC) power supply, and industrial operations backed by clean energy occurred in the month.

India’s Renewable Revival: May 2025 Brings Breakthrough Projects & Power Partnerships

1. NTPC Green Commissions 75 MW Solar Project

On May 1, 2025, NTPC Green Energy Limited successfully commissioned, part capacity of 75 MW (Lot-4) (cumulative 225 MW) out of the total 500 MW plant capacity of IRCON Renewable Power Limited (IRPL), a joint venture of Ayana Renewable Power Pvt. Ltd., a wholly owned subsidiary of our joint venture ONGC NTPC Green Private Limited, was declared commercially operational on May 2, 2025.

2. Reliance Power entered into a contract for 25 years on the biggest planned solar project in Asia with SECI

On May 02, 2025, the Solar Energy Corporation of India (SECI), as a major Navratna Central Public Sector Enterprise, and Reliance NU Suntech Private Limited signed a PPA that will last for 25 years. This strategic agreement is a big, long-term energy contract for India, making it a key moment in the move toward clean energy. To install Asia’s biggest solar and battery energy storage system (BESS) to generate clean electricity.

• With its INR 10,000 crore budget, this project, set to be done in 24 months, will be Asia’s first major solar + battery storage facility at a single site. The project marks a major achievement, featuring more than 1,700 MWp of solar capacity, in India’s shift to clean energy.

• Under the deal, Reliance NU Suntech will provide 930 MW of solar power and 465 MW/1,860 MWh of battery storage, all for a fixed electricity price of INR 3.53/kWh.

3. Adani Green signed a 400 MW Solar PPA with UPPCL at INR 2.57/kWh.

Adani Green Energy Sixty Nine Ltd (AGE69L), on 3rd May 2025, inked the Power Purchase Agreement (PPA) of 25 years for the supply of 400 MW solar power at a competitive tariff of INR 2.57/kWh with Uttar Pradesh Power Corporation Ltd (UPPCL). A solar plant, to be built in Rajasthan, will produce the power, to be commissioned by June 2027. It will also help UP attain its goal to add 22,000 MW of solar capacity by 2026–27.

4. Coal India, UPRVUNL Ink MoU for 500 MW Solar Project in UP

Coal India Ltd (CIL) and UP Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) signed a nonbinding MoU on May 5, 2025, to develop a 500 MW solar project in Uttar Pradesh. It's the next step in CIL’s green push into energy and is meant to help meet rising power demand in the state. The agreement also opens the door to future renewable collaborations between the two entities.

5. 1GW RE Project of ArcelorMittal Starts Powering Cleaner Steel in India

ArcelorMittal’s 1 GW hybrid solar-wind project in Andhra Pradesh, commissioned on 8 May 2025, is supplying clean electricity to ArcelorMittal / Nippon Steel (AM/NS India), its JV with Nippon Steel. The JV partnership, which aims to reduce emissions to 20% lower than global peers by 2030, has been developed by AM Green Energy in the USD 0.7 billion project to reduce greenhouse gas emissions by 1.5 million tonnes annually. Once operational by June 2025, the hydro-pumped storage unit will deliver up to 250 MW of round-the-clock power, enough to cater to about 20% of Hazira Steel Plant as well. This RE setup will span over 3,100 acres, which will generate 2.5 billion kWh annually, enough to light up around 10 million homes across India.

6. JIRE Wins 300 MW Solar Project from SJVN

On May 12, 2025, BC Jindal Group announced that its green energy arm, Jindal India Renewable Energy (JIRE), received a 300 MW solar project from SJVN Ltd under its 1,200 MW ISTS connected auction, comprising 600 MW/2400 MWh of BESS. The clean energy project will be developed on a build‐own‐operate basis, and the tariff received is INR 3.32/kWh, expanding the Group’s clean energy footprint.

7. Gujarat Solar Project with 100 MW secured INR 376 Cr for BluPine

Backed by Actis, BluPine Energy received INR 376 crore in debt financing for its 100 MW solar project in Tharad, Gujarat, under the 22nd tender issued by GUVNL, which was secured on May 13, 2025. Standard Chartered arranged the funding as Sole Lead Arranger and Green Loan Coordinator. The project, being managed through Solarcraft Power India 5 Pvt. Ltd., is expected to accomplish commissioning by mid-2026, in line with the renewable energy goal of Gujarat and India.

8. Adani Green commissioned a 50 MW Solar Project in Khavda

A 50 MW solar project at Khavda, Gujarat, was commissioned by Adani Renewable Energy Fifty Six Limited (ARE56L), a subsidiary of Adani Green Energy Ltd (AGEL), on May 14, 2025. From May 15, the plant got operationalized, increasing AGEL’s total renewable capacity to 14,340.9 MW. This is yet another milestone in AGEL’s fast-paced growth in the Indian green energy space.

9. Bikaner Solar Project Unlocks 78.23 MW Capacity with SJVN Green Begins Commercial Operations

A wholly owned arm of SJVN, SJVN Green Energy Ltd (SGEL), started commercial operations of 78.23 MW at its 1,000 MW Bikaner Solar Power Project in Rajasthan on May 15, 2025. It follows the commissioning of the earlier commissioned 241.77 MW (Phase-1) in April 2025. Under MNRE’s CPSU Scheme – Phase II, the project would supply power to Rajasthan, Jammu & Kashmir, and Uttarakhand. It is implemented in DCR mode, which supports the Make in India drive and the 50,000 MW capacity target set for SJVN by 2040, in aid of the 500 GW clean energy goal of India.

10. Coal India arm leads the Alpex Solar secures INR 1,068.84 crore orders

Greater Noida-based Alpex Solar was awarded orders worth INR 1,068.84 crore by multiple clients, including a main order to Coal India subsidiary Central Mine Planning and Design Institute Ltd (CMPDIL) on May 15, 2025. Alpex Solar got an INR 349.99 crore project in a joint venture with NVNR Power & Infra Ltd to design, build, and commission a grid-connected ground-mounted solar power plant at Nandan Washery, Kanhan area of Western Coalfields. It marks Alpex Solar’s deeper entry into India’s renewable power sector.

11. SJVN awards 350 MW Solar + BESS project to Reliance NU Energies

On May 28, 2025, Reliance NU Energies, a Reliance Power unit, received the Letter of Award for a 350 MW solar project integrated with a 175 MW/700 MWh of Battery Energy Storage System (BESS) from SJVN. On commissioning, this platform will add another 600 MW of solar DC and 700 MWh of storage to Reliance Power’s portfolio, further elevating Reliance Power’s clean energy pipeline to 2.4 GW of solar and 2.5 GWh of BESS, making Reliance Power India’s largest integrated solar + storage player.

12. BC Jindal Secures 150 MW Round-the-Clock Project from SECI

BC Jindal Group won a 150 MW round-the-clock renewable energy project in a Solar Energy Corporation of India Limited (SECI) reverse auction on May 28, 2025, at a tariff of INR 5.07/kWh. The project belongs to the larger 1200 MW RTC auction being organized by SECI. BC Jindal will be responsible for land acquisition, project setup, approvals, and grid connectivity through ISTS. Power generated will be supplied to DISCOMs via a Power Purchase Agreement (PPA) managed by SECI.

Surge in Solar Storage and Strategic Tie-ups Signal India’s Green Future

India’s race to clean, firm, and dispatchable renewable energy is accelerating. The momentum is reflected through the key milestones of Reliance Power’s landmark 25-year solar + BESS contract, ArcelorMittal’s clean steel project, and BC Jindal’s round-the-clock win. State–level engagements also show increasing regional collaboration (e.g. Adani’s PPA with UPPCL and Coal India’s MoU with Uttar Pradesh). Together, private capital, advanced tech, and policy backing have propelled India toward its climate goals, and the energy ecosystem that results is dynamic and resilient.