Re-NEW-ables Rising: Charging into a New Year

As 2024 draws to a close, India’s renewable energy journey marks a year of remarkable milestones, setting the stage for an even more enterprising 2025.
 
In 2024, India's renewable energy capacity surged to 201.45 GW by October, reflecting a 13.5 percent growth over the previous year. This milestone now accounts for an impressive 46.3 percent of the nation’s total installed power capacity, defining India's determination to reduce its reliance on fossil fuels and champion clean energy sources. Solar power, the crown jewel of India's green revolution, exceeded 90 GW of capacity by September, lighting up the path toward sustainable energy independence.
 
This year was also remarkable year in terms of government policies. PM Narendra Modi announced PM Suryodaya Yojana 2024. The scheme was later renamed to PM Surya Ghar: Muft Bijli Yojana and was launched on February 13, 2024, with a total allocation of INR 75,021 crore.
 
The Ministry of New and Renewable Energy (MNRE) this year announced amendments to the Approved Models and Manufacturers of Solar Photovoltaic Modules (ALMM) Order, including the addition of solar PV cells to the framework to boost domestic manufacturing. The introduction of ALMM List-II for solar PV cells is set for June 1, 2026, aligning with anticipated capacity growth. Additionally, the government has launched the PM E-DRIVE Scheme with an outlay of INR 10,900 crore to accelerate electric vehicle adoption, expand charging infrastructure, and develop the EV manufacturing ecosystem.
 
In another major policy move, the Union Cabinet has approved a Viability Gap Funding (VGF) scheme worth INR 7,453 crore for offshore wind energy projects, including INR 6,853 crore for commissioning 1 GW of offshore wind capacity.
 
Additionally, the customs duty exemption on 25 critical minerals essential for renewable energy signalled the government’s focus on reducing dependency on imports while promoting domestic capabilities. The emphasis on accessibility was further seen in the MNRE's new mandate, requiring vendors to register on the National Portal to participate in the rooftop solar program, ensuring streamlined processes for the PM Surya Ghar: Muft Bijli Yojana.
 
As we bid farewell to 2024, the anticipation for 2025 grows. Next year promises to build upon the strong foundation laid by the transformative investments, budgetary allocations, and policy decisions of 2024. With an unwavering focus on scaling renewable capacity, attracting international investments, and integrating cutting-edge technologies, 2025 is poised to bring India's green aspirations closer to reality. Major renewable energy players shared their plans and growth in an exclusive conversation with Energetica India. Here's to 2025—a year that promises to be brighter, greener, and bolder.


Sungrow emphasises continuous innovation, allocating significant resources to research and development (R&D). Over 40 percent of its workforce is dedicated to R&D, focusing on new products like the 1+X modular inverters and advanced energy storage systems like the PowerTitan. These technologies aim to enhance efficiency, reliability, and flexibility, supporting the energy transition globally. For Sungrow, India is a critical growth market. Over the past decade, the company has established itself as a leader in the Indian solar inverter sector, shipping over 32 GW of inverters. The company is also aggressively focusing on battery energy storage system solutions for the Indian market. It plans to significantly expand its manufacturing capacity within India to cater to rising demand, said Vega Kataria, Manager - Key Accounts, Sungrow.


Looking ahead to 2025, Serentica Renewables is focused on achieving growth through innovation, strategic expansion, and a stronger market presence in India. By 2030, we aim to commission 17–20 GW of renewable energy capacity, requiring a capex investment of 130-150 thousand crore. To support this ambitious goal, we’ve already secured equity funding of USD 650 million from KKR and additional contributions from captives. Our strategy is centred on addressing the evolving energy needs of commercial and industrial (C&I) customers by delivering reliable, round-the-clock green energy solutions. Leveraging advanced technologies like AI-driven operational and asset management systems, we are setting new benchmarks in energy efficiency and sustainability. Regionally, we’re expanding through multi-located assets, including a strong partnership in Andhra Pradesh and Rajasthan to develop 10 GW of renewable energy in each state. By staying committed to decarbonization, adopting cutting-edge technologies, and forging strategic partnerships, Serentica is set to play a pivotal role in reshaping the renewable energy landscape while contributing significantly to India’s ambitious energy goals, commented Akshay Hiranandani
CEO, Serentica Renewables.


Looking ahead to 2025, Rayzon Solar is poised for tremendous growth as we continue to lead the solar industry with cutting-edge technology and a steadfast commitment to sustainability. Our focus will remain on innovating high-efficiency solar modules, such as our N-Type TOPCon panels, which promise unparalleled performance and durability. By expanding our product offerings and refining our technological advancements, we aim to push the boundaries of solar energy efficiency and reduce costs, making solar more accessible for both residential and commercial applications.
As part of our growth strategy, Rayzon Solar is set to increase its market presence in India, capitalising on the government's ambitious renewable energy goals and commitment to a greener future. With the country targeting 500 GW of renewable energy capacity by 2030, Rayzon is strategically positioning itself to play a leading role in this transformation. We will continue to expand our manufacturing capacity, including the launch of a 1 GW TOPCon cell manufacturing plant by 2025, further strengthening our footprint in both domestic and international markets. Beyond India, Rayzon Solar’s global ambitions will be fuelled by our commitment to offering reliable and innovative solutions in emerging markets. By forging strong partnerships, enhancing customer service, and maintaining a focus on quality, we plan to expand our reach in key international markets, ensuring that more regions benefit from our high-performance solar products. Our vision is to make solar energy a key enabler for a sustainable, low-carbon future, both at home and worldwide, said Chirag Nakrani, Founder & Managing Director, Rayzon Solar.

Building on the successes of 2024, Novasys Greenergy aims to accelerate its growth and further solidify its leadership in the solar sector in 2025. Our business goals are centred around three key pillars: innovation, expansion, and enhancing market presence in India and beyond. In terms of driving innovation, we plan to launch advanced energy storage solutions to address intermittency challenges and support grid stability. Our R&D efforts will focus on developing next-generation solar panels, including high-efficiency perovskite solar cells and bifacial modules. Additionally, we intend to scale our AI-powered SolSmart Analytics platform across all projects to deliver real-time insights and predictive maintenance capabilities, enhancing operational efficiency. For expansion, we are committed to growing both domestically and internationally. In India, we will focus on penetrating Tier-2 and Tier-3 cities by promoting rooftop solar and residential energy solutions to make renewable energy more accessible. Internationally, we plan to establish a presence in emerging economies, particularly in Southeast Asia and Africa, through strategic alliances and turnkey solar projects, thereby broadening our global footprint. To strengthen our market presence, we will prioritise customer-centric solutions, such as innovative financing models like solar-as-a-service (SaaS) and flexible payment schemes. We also aim to amplify our sustainability narrative through targeted marketing campaigns and active participation in global renewable energy forums, positioning Novasys Greenergy as a thought leader in the industry. Our strategic roadmap for 2025 envisions a 30 percent growth in capacity addition and expanded collaborations with corporate and governmental entities. These efforts will help us advance our mission of providing affordable and sustainable energy for all, reinforcing our commitment to driving the clean energy transition, said Ashok Singh, President – Solar Business, Novasys Greenergy Pvt. Ltd.

Looking ahead to 2025, Navitas Solar has set ambitious business goals centered around innovation, expansion, and market presence. We plan to invest heavily in R&D to develop cutting-edge solar technologies, focusing on increasing the efficiency and reliability of our products, including modules with up to 20 busbars and power outputs of up to 720 watts per panel. Our expansion strategy includes increasing manufacturing capacity to 6 GW per annum and establishing a new 1.2 GW solar manufacturing facility in North America in partnership with Colby Solar and Sustainable Equity, with the potential to scale up to 10 GW in the coming years. Strengthening our market presence, particularly in North America and Europe, remains a priority, and we will leverage our new facilities and strategic partnerships to capture a larger share of these markets. Additionally, our JYOTI initiative will drive our CSR efforts, focusing on education, skill development, and environmental sustainability, integrating these values into every aspect of our operations, commented Vineet Mittal, Director of Finance & Strategy, Navitas Solar.


Looking ahead to 2025, INA Solar’s goals are centred around driving innovation, expansion, and enhanced market presence both in India and internationally. We are committed to advancing solar technology by introducing next-generation solar modules. In 2025, INA Solar plans to incorporate bifacial solar panels and N-type solar cells, which promise to offer higher efficiency and lower costs. Additionally, we are moving towards backward integration by entering solar PV cell manufacturing, which will help us enhance product quality and production efficiency. Our introduction of N-type solar cells manufactured in India will ensure superior performance in the solar modules. INA Solar is ramping up its manufacturing capacity from 1,000 MW to 4,000 MW in the coming months to meet the increasing demand for high-quality solar modules. This expansion will allow us to serve the growing residential, commercial, industrial, and utility-scale solar projects across PAN India. On the international front, we are exploring new markets in the USA, Middle East, and Africa, where the demand for solar energy is surging. These regions present significant growth opportunities, and INA Solar is positioning itself to become a key player in these markets.
Our goal for 2025 is to further establish INA Solar as a market leader in all solar segments, including rooftop solar, C&I installations, and utility-scale projects. We will continue to expand our footprint across PAN India while introducing advanced solar products tailored to meet the specific needs of international markets. By offering high-performance solar modules, we aim to strengthen our presence across residential, commercial, and industrial sectors, as well as large-scale utility projects, said Deepak Jain, CTO, Insolation Energy Ltd.


Looking ahead to 2025, we, at Icon Solar, have set ambitious goals for ourselves. We are focused on scaling our production capacity to reach a total of 2.6 GW. We have also laid out plans to start cell manufacturing with a capacity of 1.4 GW by the end of 2025. This expansion demonstrates our commitment to meeting the increasing demand for high-quality solar panels, both domestically and internationally. To achieve this, we are investing in state-of-the-art manufacturing facilities and advanced production techniques that will help us deliver innovative and efficient solar solutions. Our focus remains on TOPCon modules and other advanced technologies, ensuring that our products continue to offer superior performance and efficiency. Additionally, we plan to strengthen our presence not only in India but also in global markets, reinforcing our role as a leader in renewable energy. These efforts align with our commitment to sustainability and India’s carbon reduction goals, driving us toward a cleaner and greener future, stated Shakti Kumar Dubey, Director, Icon Solar-En Power Technologies Pvt. Ltd.

 

Looking ahead to 2025, Hero Future Energies is committed to advancing its role as a leader in renewable energy, driving both national and global sustainability goals. A key focus will be significantly increasing renewable energy capacity, contributing to India’s ambitious target of 500 GW by 2030. Domestically, HFE plans to continue delivering firm and dispatchable renewable energy solutions, integrating energy storage for round-the-clock reliability. These solutions are designed to meet the growing demand for clean energy in industrial and commercial applications. A major milestone for the year will be launching our maiden green hydrogen project, aimed at decarbonising hard-to-abate sectors. This initiative underscores HFE’s commitment to leveraging advanced technologies for sustainable development. Through innovation and strategic initiatives, HFE aims to bolster the country’s clean energy landscape while expanding its international presence. We plan to explore suitable business opportunities in the advanced UK market and leverage the learnings to grow our portfolio in emerging markets such as Vietnam. As the company scales its solar, wind, and green hydrogen portfolio, it envisions transformative growth while maintaining its commitment to making renewable energy more accessible and affordable. With innovation, strategic expansion, and sustainability at its core, HFE is well-positioned to drive India’s energy transition and establish itself as a global leader in the renewable energy sector, said Srivatsan Iyer, Global CEO, Hero Future Energies.


Innovation has always been central to Grew Energy’s success. The emerging market trends emphasise the urgent need for innovative, efficient, and scalable solar solutions. Our N-type TOPCon modules have garnered significant attention for their superior efficiency and enhanced performance in high-temperature regions, addressing a critical need in many markets. We are also focused on enhancing our manufacturing capabilities and driving down the cost of solar energy to ease and boost the adaptability of solar systems for energy needs. Our current operations include a 1.2 GW solar panel manufacturing facility in Jaipur, with 1.6 GW expansion totalling to 2.8 GW panel production capacity. In Jammu & Kashmir, our upcoming 3.6 GW manufacturing plant will incorporate the latest technologies in high-efficiency ingot, wafer, and cell production. In 2025, we will be continually working towards commercialising our operations of Phase III of the Kathua unit by April 2026, which is when maximum annual production of 6.4 GW capacity will be attained. In terms of product technology advancement, we are exploring avenues to move from conventional TOPCon modules to TOPCon-210R modules which will significantly cut costs and benefit the users with lower levelized cost of electricity. Our upcoming cell manufacturing facility in Kathua will manufacture these high-efficiency TOPCon-210R cells as a part of our backward integration plan. Grew’s three-stage fully backward integration manufacturing project forms an important part of our mission. We aim to become self-sufficient solar manufacturers of high-end Domestic Content Requirement (DCR) modules by March 2025. This would be one of the pivotal shifts as this will position Grew Energy to capitalise on both domestic and global growth opportunities. We are determined to strengthen our presence internationally, particularly in regions with growing demand for DCR panels.
In a nutshell, Grew is all set for another year of transformative growth, commented Vinay Thadani, CEO & Director, Grew Energy.


In 2025, Gautam Solar as a leading player in the solar market will be increasing their manufacturing capacity to 5 GW. N-Type TOPCon glass-to-glass modules will be manufactured in our Bhiwani, Haryana plant with a fully automated setup and advanced technology. Our expansion plans include deepening our footprint in the Indian market while exploring international opportunities to cater to a growing global demand for sustainable energy solutions. We are committed to staying ahead in product development, driving efficiency, and enabling our customers to maximise their energy yields, said Gautam Mohanka, CEO, Gautam Solar.

Emmvee has always been a pioneer, whether in bifacial modules, TOPCon technology, or innovations in module and cell manufacturing. We continuously seek out new technologies and solutions that can be scaled significantly to benefit customers and end-users. As technology advances, we have stayed ahead of the curve by implementing TOPCon technology, which will see broader adoption in India in 2025. In 2025, we plan to further expand our module and cell capacity. We are focusing on strengthening our presence in the Indian market, which continues to show remarkable growth in solar installations. While our primary focus remains India, we also have a presence in the US market, which we plan to grow further. However, ramping up our capacity to meet India’s increasing demand will remain our priority, stated Suhas Donthi, President & CEO, Emmvee Group.
 

As we look ahead to 2025, Avaada Group is poised to build on its strong foundation and accelerate progress toward our ambitious goals. Currently, we have an impressive pipeline of operational and under-development capacities across various states in India. We are firmly aligned with our target of achieving 30 GW of operational renewable energy capacity by 2030, reinforcing our commitment to India’s clean energy transition. Innovation will continue to drive our growth strategy. With a thrust on renewable power projects across the country, we are enabling the national grid, as well as businesses and institutions to source clean energy for powering their operations. To ensure round-the-clock accessibility to renewable energy, we are developing a portfolio of storage solutions, including PSP projects. With the development of gigawatt-scale integrated solar PV manufacturing facilities, we aim to set new benchmarks in efficiency, automation and sustainability. These facilities will also support the production of next-generation batteries and electrolyzers ensuring Avaada remains at the forefront of renewable energy technology and solutions. In terms of market expansion, we are actively exploring opportunities in global markets for green hydrogen and its derivatives, leveraging partnerships and collaborations to make India a hub for clean energy exports. Domestically, we will focus on our IPP business, and C&I projects along with energy storage solutions including pumped storage projects to meet the diverse needs of industries and communities. 2025 will also see us expanding our footprint in green hydrogen and ammonia projects, further strengthening our integrated value chain approach. By continuously innovating, scaling, and diversifying, we aim to not only enhance our market presence in India but also establish Avaada as a key player on the global renewable energy stage, said Prashant Choubey, President of Business Development, Avaada Group.


For next year, our focus is on second life apart from recycling. LICO has developed 10kWh packs and plans to develop 36kWh packs and high voltage packs in future. We also plan to announce our technology partner for going downstream to build the Hydrometallurgy plant in India. Our objective is to be a recycler for all kinds of chemistries and batteries, so we are investing in technology, said Gaurav Dolwani, CEO, LICO Materials.



Building on the structural changes made in 2024 to enhance agility and responsiveness, our key objectives for 2025 focus on improving efficiency and leveraging technology as a driving force. We aim to accelerate development through cloud-based workflows for products and solutions development, reduce timelines, and enhance software quality by enabling verification and validation in virtual and simulated environments. We aspire to become the preferred partner of choice in driving and realizing the potential of SDVs, commented Nandakumar Kollu, Head of Product Development, Elektrobit India Pvt. Ltd.


As we look to 2025, our focus remains on scaling up innovation and production capabilities. One of our key objectives is to finalize the B-Phase design of our LFP battery systems, building sample packs for our global customers. This includes compliance with functional safety and cybersecurity regulations, both of which are becoming increasingly critical in global markets. We are also working continuously for advancements in battery management systems (BMS) that integrate state-of-the-art algorithms for enhanced cell monitoring and predictive analysis. Our in-house development of a cutting-edge hardware and software platform - that will be used in generation updates of our NMC battery packs as well as in our new LFP battery pack family – allows us to holistically consider and influence all relevant aspects of a battery system development. The continuous improvement of battery system software technologies will not only boost energy efficiency but also extend the lifespan of battery systems, ensuring a competitive total cost of ownership (TCO) for electric commercial vehicles. We are also closely monitoring all future trends in battery design and function by continuously working on concepts for the next generation of battery systems which are reshaping the industry. While the innovations in battery cell energy density and other single areas hold promise, modularity and flexibility will continue to play a crucial role in providing adaptable solutions for complex commercial vehicle applications. As with our LFP battery pack family, which allows different battery pack shapes to be combined in one vehicle, this type of flexibility in platform design will remain a fundamental requirement for future battery generations to meet the growing demand for scalable, high-performance systems, said Johannes Rossmanith, Director - R&D, Battery Systems, BorgWarner.


We already have a list of priorities and agendas to work on in 2025, which will keep us busy for most of the new year. For instance, in 2025, we will focus more on our sectoral expansions to enhance our visibility and market expertise. We already have new partnerships to finalize in the electric fleets and ride-hailing segments, among other sectors. During this expansion phase, we will focus on facilitating electric mobility-led public transportation by making charging solutions more accessible. In terms of our product portfolio, we intend to launch a new range of chargers with much higher capacity options than our current 3.3 kW, 7.4 kW, and 30 kW chargers to support diverse charging needs. Simultaneously, we will explore partnerships with hospitality players, commercial entities, and residential owners to enhance the public’s access to advanced charging solutions. In addition, my team will work on completing our charging infrastructure projects with the Airports Authority of India. As part of our existing partnership, we will establish charging infrastructure at four more locations across India. Simultaneously, we will amplify our hiring process and focus on research and development to refine our charging products and installation services, stated Akihiro Ueda, CEO of Terra Charge.