India imported solar cells and modules worth over $839.4 million (₹71.9 billion) in the second quarter (Q2) of 2025, an 8.3% year-over-year (YoY) increase, according to data from the Department of Commerce. Solar cells made up 72.4% of the total import value, while modules contributed the remaining 27.6%. In a quarter-over-quarter (QoQ) comparison, module and cell imports dropped by 35.6% from over $1billion (~₹112.9 billion). While imports of solar cells rose 24.1%, imports of solar modules fell 71.5% from Q1 2025.

Commercial and industrial (C&I) businesses can not only cut carbon emissions and power costs but also meet the green procurement criteria increasingly mandated by international companies for their suppliers. The C&I sector has options like solar open access and rooftop solar to make their operations more environment- friendly. With renewable energy becoming increasingly mainstream, banks and other financial institutions have been tailoring their loan products to the specific needs of businesses switching to clean energy sources.

A soft drink bottler and a cement maker may have little in common, just as a lifestyle brand and a railway wagon manufacturer do. Yet all four share a strong commitment to energy sustainability. These four companies operating in diverse sectors – Amrit Bottlers, Birla Corporation, Jupiter Wagons, and Raghav Lifestyle – have all turned to solar energy to lower their power bills and make their operations environmentally friendly. Kolkata-based VSL RE Power assisted them in their quest to switch to clean energy by installing solar systems of varying capacities tailored to their unique needs.

HLL Lifecare, a government-owned healthcare products manufacturer, installed a 1 MW rooftop solar system at its premises in Thiruvananthapuram, Kerala, reinforcing its commitment to sustainability while reducing power costs. The project, executed by Wattsun Energy, uses Rayzon 540 Wp mono PERC solar modules and Sungrow 125 kW string inverters. For HLL, the primary motivation to go solar was a combination of reducing energy costs and reinforcing their commitment to sustainability. The project not only promises significant long-term energy savings but also aligns with the organization’s vision of adopting greener practices and lowering its carbon footprint.

SJVN issued a request for selection to set up 600 MW interstate transmission system-connected wind projects anywhere in India. The power generated from these projects will be sold to the Punjab State Power Corporation or other purchasing entities. Bids must be submitted by October 31, 2025. Bids will be opened on November 3. Bidders can quote for a minimum capacity of 50 MW and a maximum capacity of 300 MW. The scope of work entails setting up the wind projects, including the transmission network up to the interconnection/delivery point. It also involves the installation and maintenance of a GPS-enabled automatic weather station.

Solar module and cell manufacturer Emmvee Photovoltaic Power received approval from the Securities and Exchange Board of India (SEBI) to raise ₹30 billion (~$340.50 million) through an initial public offering. The company filed the draft IPO papers with SEBI in July this year. The IPO will include a fresh issue of equity shares worth ₹21.44 billion (~$243.36 million) and an offer-for-sale component of ₹8.56 billion (~$97.16 million) by promoters Manjunatha Donthi Venkatarathnaiah and Shubha Manjunatha Donthi. Proceeds from the fresh issue will be utilized for repayment or prepayment of loans and interest, and for general corporate purposes.

A court in the U.S. approved the sale of Meyer Burger’s machinery and equipment for the production of solar modules to Waaree Solar Americas and solar cells to Babacomari Solar North for a total of approximately $29 million. The company said this decision was driven by a failure to find an investor for the entire group of companies. It added that it will continue its efforts to sell parts of the group and/or its assets in Switzerland, Germany, and the U.S. Meyer Burger Technology’s board of directors assessed that there is no possibility of rescuing the entire group of companies or the parent company. The board is seeking to conclude a composition agreement to rule out the possibility of paying a liquidation dividend to shareholders.

The Solar Energy Corporation of India called for proposals to select an executing agency for preparing detailed project reports for green hydrogen hubs under Component B1 of the National Green Hydrogen Mission. Bids will be chosen based on a quality-based selection system, with 60% weight for technical criteria and land availability, and 40% for presentations. Bids must be submitted by October 16, 2025. Bids will be opened on October 17. Under the scope of work, each DPR will assess potential hydrogen hub locations in different states or union territories. The hubs must have a planned or announced production capacity of at least 100,000 metric tons per annum of green hydrogen.

The Indian Renewable Energy Development Agency approved a loan of ₹11.34 billion (~$129 million) to Insolation Green Energy, a wholly owned subsidiary of INA Solar, to finance its 4.5 GW solar cell manufacturing facility in Madhya Pradesh. The estimated cost of setting up the solar cell plant is ₹15.12 billion (~$172 million). The remaining ₹3.78 billion (~$43 million) will be funded from internal accruals. In August, the company broke ground on the manufacturing plant for solar cells and an 18,000 MT aluminum frame manufacturing facility in the Power and Renewable Energy Equipment Zone at Narmadapuram, Madhya Pradesh.

Enfinity Global secured ₹5.2 billion (~$59 million) in debt financing from India Infradebt for its 200 MW solar projects across India. Enfinity has a global portfolio of 36 GW of renewable energy and storage projects, including operational projects, under construction, and development assets. It also has an additional 37 GW under negotiation across the U.S. The company has offices in the U.S., Europe, Japan, and India. Enfinity has mobilized over $41 billion in the renewable energy sector, with more than 26 GW of developed and acquired solar and wind assets.

Module manufacturer Vikram Solar’s revenue increased by 79.7% YoY to ₹1.13 billion (~$12.86 million) in Q1 of financial year (FY) 2026 from ₹630.9 million (~$7.18 million). Vikram Solar’s profit after tax stood at ₹133.4 million (~$1.5 million), a 485% growth from ₹22.8 million (~$259,589) in the same quarter of the previous year. The company said that reduced manufacturing costs, optimized finance costs, and efficient tax planning fueled its overall profitability. Its earnings before taxes, depreciation, and amortization increased by 117% YoY to ₹242.2 million (~$2.75 million) from ₹111.5 million (~$1.26 million). The earnings per share (EPS) came in at ₹4.21 (~$0.05) compared to an EPS of ₹0.75 (~$0.01) in Q1 FY 2025.

Spain-headquartered renewable energy company ACCIONA Energía commissioned a 412 MW solar project in Juna, Rajasthan. The project consists of 750,000 solar modules and is the company’s largest project in India. It is expected to generate 800 GWh of power annually. The company had announced the construction of the solar project in February last year. Bengaluru-based power trading company, Manikaran Power, will receive 70% of the power generated from the Juna project through a 15-year power purchase agreement. ACCIONA will sell the remaining 30% to the market.

The European Solar Manufacturing Council and SolarPower Europe requested the European Commission to include ‘make-in-Europe’ provisions in public procurements to stimulate demand for the solar manufacturing sector. Highlighting the stalled solar deployment and the existential threat to the European solar manufacturing sector, the associations demanded political commitments and a roadmap to rebuild and grow European solar manufacturing capacities along the entire value chain. They stated that including the ‘Made-in Europe’ provisions within public procurements will also provide fair and open access to such procurements for all eligible suppliers.