India Solar Energy Market Highlights – November 2025

November 2025 was a pivotal month for the solar sector in India, with significant project commitments, new partnerships, and investor confidence currently defining the industry. SECI policy momentum and robust involvement of both the private and public sector players were strong indicators of a market moving towards larger, more complex, and storage-combined solutions. The capacity pipeline continued to grow through state developers, and long-term capital was invested in utility-scale, round-the-clock renewable energy projects. These factors reflect a rapidly scaling market that is supported by policy, state collaborations, and increased industrial demand for reliable, clean power.

India’s Solar Sector Accelerates with Major Projects, Investments, and Strategic Partnerships

1. SECI and Andhra Pradesh Sealed 1200 MWh BESS and 50 MW Hybrid Project

On November 15, 2025, Solar Energy Corporation of India Limited (SECI), a Navratna CPSU under the Ministry of New & Renewable Energy (MNRE), Government of India, exchanged Government Orders (GOs) with the Government of Andhra Pradesh for the development of a 1200 MWh Battery Energy Storage System (BESS) at Nandyal and a 50 MW Hybrid Solar Project.

The projects of both BESS and Hybrid Solar will be built on the basis of CAPEX Mode, with SECI having full investment responsibility.

2. KPI Green Energy Signed INR 696.50 Crore (~USD 77.19 million) Contracts with SJVN for 200 MW Solar Project in Khavdat

On November 17, 2025, KPI Green Energy signed a contract with state-owned SJVN Ltd for an order worth INR 696.50 crore (~USD 77.19 million) to develop a 200 MW (AC) solar power project at the GIPCL Renewable Energy Park in Khavda, Gujarat. This development represents a major advancement in KPI Green's expanding portfolio of utility-scale renewable energy projects.

As per the agreement, KPI Green Energy will be responsible for supplying all plant and equipment for the 200 MW (AC) solar project as per approved specifications, along with executing the erection, installation, and construction works, including all civil, architectural, and structural activities at the site.

3. KPI Green Energy Limited and Inox Solar Limited Inked MoU to Jointly Develop 2.5 GW of Solar Projects across multiple states in India

On November 19, 2025, KPI Green Energy Limited signed a Memorandum of Understanding (MoU) with Inox Solar Limited (a branch of the INOXGFL Group). The MoU is a strategic alliance aimed at developing 2.5 GW of Solar and Hybrid renewable energy across various states in India.

As part of the MoU, KPI will be engaged in the development of the projects, including the approval of connectivity, land acquisition, the management of right-of-way (ROW), statutory approvals, and implementing EPC and Balance of Plant (BOP) works. KPI will also provide steel structures (solar MMS) and offer O&M services. ISL will provide solar modules to the location of the project and do pre-commissioning, commissioning, and O&M of the solar modules. This combined strategy helps both organizations to utilize their own strength to have an efficient and high-quality project execution.

4. Serentica Planned USD 8 billion Clean Energy Expansion in India

On November 27, 2025, Serentica Renewables planned to raise between USD 6 billion and USD 8 billion over the next five years, to help fund acquisitions and build projects as it looks to more than double its clean energy capacity. With KKR as its private equity partner, Serentica plans to invest USD 10 billion to USD 11 billion in order to grow its clean energy portfolio to 17 gigawatts (GW) by 2029/30.

The company is looking to acquire projects that are already operating or are under construction. It currently has 2 GW of installed solar and wind capacity and 2 GW of capacity due to be commissioned within the next 10 months.

The first phase of the planned investment, about USD 3 billion, is fully funded, and the next phase, USD 2 billion, is partly funded, with the rest under discussion.

5. BC Jindal Signed a 150 MW Round-the-Clock Renewable Power Contract from SECI

On November 27, 2025, BC Jindal Group announced the signing of a power purchase agreement (PPA) with Solar Energy Corporation of India Ltd (SECI) for 150 megawatts of round-the-clock (RTC) renewable power. 

The capacity allocation represents a significant strategic win under SECI's 1,200 MW RTC tender, which was issued in November of the previous year.

The BC Jindal Group secured the 150 MW capacity at a competitive tariff of INR 5.07 (USD 457.29) per kilowatt-hour. To meet this contractual requirement, the group will develop inter-state transmission system (ISTS)-linked renewable energy projects that incorporate several technology components, including solar generation, wind power, and battery energy storage systems (BESS).

CIndia’s Solar Push Gains Momentum as Big Projects, Capital Commitments, and Strategic Alliances Accelerate Growth

The solar industry in India is going to close 2025 on a high note, with the large-scale projects awarded, further partnerships, and assured investment commitments by the key developers. The move by SECI to storage-based solar and hybrid models is an indication of the transition to company and dispatchable renewable power. The multi-gigawatt partnership by KPI Green and Inox Solar can be seen as an indication of how developers are combining resources to accelerate the process and stabilize the supply chains. The multibillion-dollar stream of investments by Serentica indicates that the global capital remains optimistic about the economics of clean energy in India. And round-the-clock PPAs like BC Jindal’s are demonstrating growing demand for renewable energy. Therefore, these factors are moving towards a sector that is rapidly growing in size, operationally maturing, and ready to enter the next stage of high-certainty and high-impact solar expansion.