Jakson Green, Tata Power Solar, Hartek Group, L&T Construction, and Sterling and Wilson Renewable Energy emerged as the top utility-scale solar engineering, procurement, and construction (EPC) service providers in 2024, according to Mercom’s recently released India Solar Market Leaderboard 2025 Report.

Jakson Green was the leading EPC player with a market share of 20%, followed by Tata Power Solar with 13%. Hartek Group, L&T Construction, and Sterling and Wilson Renewable Energy rounded off the top five.

The top five utility-scale solar EPC service providers accounted for 48% of the market share.

Jakson Green’s cumulative large-scale installed solar capacity in EPC mode was 3.6 GW as of December 2024. Its major commissioned installations include Aditya Birla’s 500 MW and Brookfield Renewable’s 394 MW projects.

In May 2024, HSBC India extended a sustainable trade facility of ₹600 million (~$7.1 million) to Jakson Green, the renewable energy arm of the Jakson Group, which will bolster the company’s operational needs in the renewable energy sector in India and overseas.

In 2024, Tata Power commissioned the country’s largest solar and Battery Energy Storage Systems (BESS) project. The project comprises a 100 MW solar capacity and a 40 MW/120 MWh utility-scale BESS system at Chhattisgarh.

Hartek Group was third and a fresh entry into the top ten list. It bagged an EPC contract to develop a 300 MW ground-mount solar project in Rajasthan, valued at ₹4.7 billion (~$55.3 million) in 2024. The company also won an order for providing EPC services to a 75 MW solar project by SJVN. The project is located in Jamui, Bihar.

L&T Construction was fourth on the list. In June 2024, the company won an order to build a grid-connected 185 MW solar project with BESS at Kajra in the Lakhisarai district of Bihar.

Sterling and Wilson Renewable Energy rounded off the top five. The company received an EPC contract order for a 305 MW solar project in Rajasthan during the year. It also received a balance of systems EPC order for a 500 MW solar project in Gujarat.

India added 25.2 GW of solar capacity in 2024, a record installation number, surpassing the annual capacity additions of all previous years. This has opened up a massive market for EPC service providers. Sterling and Wilson Renewable Energy, in its earnings call in January 2025, mentioned that the CAGR for its solar EPC business was about 15%-20%, with the gross margin closer to 10%.

With the government assigning a defined bidding trajectory to renewable energy implementing agencies, tender activity has gained significant momentum. At the same time, the development of intrastate and interstate green energy corridors is helping unlock grid infrastructure and support the integration of additional solar capacity.

As of the end of Q1 2025, India’s pipeline of large-scale solar projects stood at 180.4 GW, with another 127.8 GW of projects awaiting auction. This growing project pipeline provides long-term visibility and a steady stream of opportunities for solar EPC contractors.

Mercom’s India Solar Market Leaderboard report covers the market landscape across the entire supply chain. For the detailed and comprehensive report, click here.

The Market Share Tracker, offering quarterly data insights on your competitors’ growth rates, is also available.