Archive · 31 Jan 2026
India's Solar Energy Transition Gains Momentum
India is becoming a big player in solar energy.
Two companies, Waaree Energies and Premier Energies, are leading this change.
The Indian government wants to use more clean energy, like solar power, and these companies are helping make that happen.
Waaree Energies is growing very fast and is expanding into new areas like batteries and green hydrogen.
Premier Energies is also growing but is more focused on being efficient.
Both companies have big orders and are investing in new factories.
The government's support and the growing need for clean energy are helping these companies succeed.
However, there is a challenge in finding buyers for the renewable energy being produced.
The government and companies are working to expand the pool of buyers to sustain the clean energy momentum.
India's renewable energy sector is expected to grow significantly, with solar module demand doubling by 2035.
Waaree Energies is expanding its operations and diversifying into battery storage, inverters, and green hydrogen.
Premier Energies is focusing on efficiency and has a strong order book primarily from the domestic market.
Both companies are investing heavily in new manufacturing capacities to meet future demand.
The Indian government's initiatives and targets for non-fossil energy are driving growth in the solar sector.
Nearly 42 GW of renewable capacity awarded through auctions yet to find buyer utilities.
Solar power prices have fallen to Rs 3 per unit for solar power paired with storage.
- Who
- Waaree Energies, Premier Energies, and the Indian government
- What
- Leading the solar energy transition in India
- When
- Current and future projections up to 2035
- Where
- Primarily in India, with some international operations
- Why
- Government initiatives and increasing demand for renewable energy
- Sector Growth
- Expected to grow at 8.1% CAGR to US$52.1 billion by 2033
- Solar Module Demand
- Expected to double to 126 GW by 2035
- Government Target
- 500 GW of non-fossil capacity by 2030
- Waaree Energies Order Book
- ₹60,000 crore
- Premier Energies Order Book
- ₹13,724 crore
- Waaree's Q3 Revenue
- ₹7,565 crore (119% YoY growth)
- Premier's Q3 Revenue
- ₹1,937 crore (13% YoY growth)
- Waaree's Expansion Plans
- 6 GW module, 10 GW cell, 10 GW ingot/wafer capacity by FY27
- Solar Power Price
- Rs 3 per unit for solar power paired with storage
- Renewable Capacity Awarded
- 42 GW of renewable capacity awarded through auctions yet to find buyer utilities