Leading Solar EPC Companies in 1H 2023: Prozeal Green, Tata Power, Vikram Solar
Prozeal Green Energy jumped to the first position from tenth
Prozeal Green Energy, Tata Power Solar, Vikram Solar, Waaree Renewable Technologies, and Opera Energy emerged as the top utility-scale solar engineering, procurement, and construction (EPC) service providers in the first half (1H) of 2023, according to Mercom’s recently released India Solar Market Leaderboard 1H 2023.
Prozeal Green Energy topped with a market share of 12.4%, followed by Tata Power Solar and Vikram Solar with 9.1% and 5.3%, respectively. Waaree Renewable Technologies and Opera Energy had a 5.3% and 3.6% market share, respectively.
The first six months of the year witnessed some notable shifts in market shares from the previous year.
Prozeal Green Energy soared to the top spot in 1H 2023 from tenth position in 1H 2022. Vikram Solar, primarily a module manufacturer, also made it to the top five list in 1H 2023.
Waaree Renewable Technology, a subsidiary company of Waaree Energies, a manufacturer, climbed to the fourth position in 1H 2023.
Operational Highlights of Top Companies in 1H 2023
Prozeal Green Energy was awarded an EPC contract by the Gujarat State Electricity Corporation for 131 MW of solar projects.
Tata Power Solar’s major EPC projects included a 300 MW project for Brookfield Renewables, a 300 MW project at the Dholera Solar Park, a 320 MW solar project for NTPC, and a 70 MW floating solar project.
Tata Power Solar was also awarded a 225 MW wind-solar project development contract.
Vikram Solar’s 150 MW Nokhra solar project achieved commissioning during the period.
The report covers market shares and rankings across the Indian solar supply chain and provides the most accurate and comprehensive coverage of India’s solar industry leaders.