Goodluck India, Strolar Mounting Systems, Raydean Industries, Metalkraft, and MTE Structures were the top five module mounting structure suppliers to the Indian solar market in 2024, according to Mercom’s India Solar Market Leaderboard 2025 report. Goodluck India led the solar module mounting structure shipments with a market share of 25.3%. Stolar Mounting Systems and Raydean Industries followed, accounting for 17% and 13.8% of the shipments in 2024, respectively. Metalkraft and MTE Structures rounded off the top five, comprising 13.7% and 12.1%, respectively.

The Multi Commodity Exchange of India (MCX) secured approval from the Securities and Exchange Board of India to introduce electricity derivatives. These financial instruments derive their value from electricity prices and are primarily used for hedging, speculation, or arbitrage. They enable power producers, distributors, and large consumers to manage risks associated with electricity price volatility. Instead of physical delivery, any gains or losses from price fluctuations are settled in cash, making the contracts purely financial. According to Praveena Rai, MD and CEO at MCX, the launch of electricity derivatives is a significant milestone for India’s commodities landscape.

Rajasthan Electronics and Instruments invited bids for rate contracts to set up 1 MW rooftop solar power projects on multiple government buildings in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Telangana, Lakshadweep, and Puducherry. Bids must be submitted by June 28, 2025. Bids will be opened on June 29. The scope of work entails the design, engineering, manufacturing, transportation, erection, testing, and commissioning of the solar projects. It also includes providing transportation, unloading, and storage of the project components, as well as obtaining insurance.

At the recent RE Buyer Seller Meet in Pune, organized by Mercom India, experts discussed various opportunities in the distributed and large-scale project segments. Yogesh Kudale, Chief Executive Officer of Taypro, and Chetan Amrutkar, AVP Sales and Marketing at Genx PV, discussed the various upcoming opportunities in the robotic cleaning and manufacturing of photovoltaic junction boxes, connectors, and cables. During the session, Kudale highlighted the potential for consumers to save six times more by opting for robotic cleaning compared to traditional cleaning for modules.

The Ministry of New and Renewable Energy (MNRE) updated the Approved List of Models and Manufacturers (ALMM) by adding 2,988 MW of solar module manufacturing capacity. The cumulative module manufacturing capacity has now reached 90,959 MW, after the latest additions. Reliance Industries is the new entry in the list with a capacity of 1,716 MW. Avaada Electro increased its capacity by adding 1,272 MW. SASA Energy’s manufacturing capacity was revised from 100 MW to 98 MW, indicating a reduction of 2 MW in the list. The total number of module manufacturers has now increased to 105.

New Delhi-headquartered steel tubes and pipes manufacturing company Rama Steel Tubes forayed into the renewable energy sector by participating as a joint venture partner in a 225 MW solar project under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyaan (PM-KUSUM) program. The project will be implemented by Onix Renewable’s special purpose vehicle (SPV), Onix IPP. The SPV signed power purchase agreements with the Maharashtra State Electricity Distribution Company at a tariff of ₹3.04 (0.035)/kWh for a 25-year term. Onix IPP’s annual gross revenue from this project is expected to be ₹1.08 billion (~$12.6 million). The total revenue for the full term is projected to be approximately ₹27.03 billion (~$315.12 million).

Power transmission and renewable energy company IndiGrid announced that it will acquire ReNew Surya Aayan and Koppal–Narendra Transmission for a total enterprise value of ₹21.08 billion (~$246 million). IndiGrid will acquire 100% shareholding and management control of both ReNew companies. This acquisition will be funded through a combination of equity, internal accruals, and debt. The cost of acquiring ReNew Surya Aayan from ReNew Solar Power will not exceed ₹13.82 billion (~$161 million). Koppal–Narendra Transmission will be acquired from ReNew Transmission Ventures at ₹7.26 billion (~$87.7 million).

Under pressure from increasing debt and falling demand, U.S.-based residential solar company Sunnova Energy filed for Chapter 11 bankruptcy protection on Sunday. Earlier this month, Sunnova TEP Developer, Sunnova Energy’s subsidiary, filed a voluntary petition for relief under Chapter 11 before the United States Bankruptcy Court for the Southern District of Texas. In May, the company’s board approved a reduction in workforce, effective May 30, 2025. It let go of approximately 718 employees (approximately 55% of the company’s workforce) to reduce the company’s operating expenses and to preserve value for stakeholders. Sunnova had spoken about the impacted employees being paid earned wages and salary, as well as earned but unused paid time off, and a severance payment calculated in accordance with the applicable employee’s severance plan.

Global investments in the energy sector are set to reach a record $3.3 trillion in 2025, a 2% increase from 2024, according to the International Energy Agency’s World Energy Investment 2025 report. Approximately $2.2 trillion is being invested collectively in renewables, nuclear energy, grids, storage, low-emission fuels, efficiency, and electrification. This investment is twice the $1.1 trillion allocated to oil, natural gas, and coal. Over one-quarter of the worldwide energy investments occur in China. In recent years, fossil fuel-importing nations aiming to enhance their energy security have accounted for much of the spending growth. Power sector investments reached a new high in 2024 with $1.5 trillion in investments. This growth was driven primarily by record investments in low-emission generation sources, the grid, and battery storage.