Q1 2025 MERCOM INDIA SOLAR OPEN ACCESS MARKET REPORT - 1.1 GW INSTALLED IN Q1 2025
In the first quarter (Q1) of calendar year (CY) 2025, India added 1.1 gigawatts (GW) of solar open access capacity, down nearly 48% from around 2.1 GW in Q4 2024, according to the Q1 2025 Mercom India Solar Open Access Market report. Installations were down 47% year-over-year (YoY) compared to over 2 GW in Q1 2024.
Solar open access projects accounted for 19.8% of the total large-scale solar installations during the quarter.
Due to the year-end commissioning rush driven by the close of the financial year, there was a shortage of domestic modules. The lack of transmission infrastructure, combined with delays in the connectivity approval process and uncertainty surrounding the Inter-State Transmission System (ISTS) waiver, slowed the commissioning of solar open access projects during Q1 2025.
Of the open access projects installed in Q1 2025, 67.4% were standalone solar, 32% were wind-solar hybrid energy, and 0.6% were floating solar projects.
Maharashtra led solar open access capacity additions during the quarter, accounting for nearly 29% of installations. The top five states accounted for over 89% of installations in Q1 2025.
As of March 2025, India’s cumulative installed solar open access capacity was 21.5 GW.
Karnataka remained the leading state in cumulative open access installations, accounting for approximately 24% of capacity additions at the end of Q1 2025. Maharashtra and Tamil Nadu ranked second and third, contributing almost 17% and over 12% of cumulative installations.
The pipeline of solar open-access projects under development and in the pre-construction phase was over 31 GW at the end of March 2025. The top 5 states together accounted for nearly 87% of pipeline projects.
In Q4 2024, Adani Green was the leading seller in the Green Day-Ahead Market (G-DAM), accounting for over 41% of the electricity sold.
Maharashtra was the leading procurer from G-DAM, accounting for 17% of the electricity purchased through Q4 2024.
The cleared volume of renewable energy certificates (RECs) traded on the Indian Energy Exchange (IEX) was up 155% quarter-over-quarter (QoQ).
The volume traded in the Green Term Ahead Market (G-TAM) on IEX rose around 72% QoQ.
The Q1 2025 Solar Open Access report provides a detailed analysis of the solar open access market, retail electricity tariffs, PPA prices, and open access charges and costs for fifteen states.
Key Highlights from Mercom’s Q1 2025 India Solar Open Access Market Report
- In Q1 2025, 1.1 GW of solar open access was added, a 48% QoQ and 47% YoY decrease
- Of the open access projects installed in Q1 2025, 67.4% were standalone solar and 32% wind-solar hybrid energy projects
- Maharashtra was the leading state, accounting for nearly 29% of solar capacity additions in Q1 2025
- The top five states accounted for more than 89% of open access installations in Q1 2025
- As of March 2025, the cumulative installed solar open access capacity was 21.5 GW
- The pipeline of solar open access projects was over 31 GW as of March 2025
Contact Mercom for pricing: reports@mercomindia.com or call us at +91-80-41211148.
