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Top 10 Solar Panel Manufacturers in India in 2022

by M Sakhawat
Top 10 Solar Panel Manufacturers in India in 2022

The Top 10 solar panel manufacturers in India

  • The Jakson Group

With a rich heritage of manufacturing excellence, Jakson ranks among the top 10 solar panel manufacturers in India with its state-of-the-art PV solar panel manufacturing facility in Greater Noida – India with an annual manufacturing capacity of 600 MW which is being boosted to 1 GW soon. The Solar Products & Modules business consists of Jakson to manufacture and sell solar panels, modular mounting structures, solar packages and other innovative solar products and solutions. Jakson Solar’s portfolio of products includes a wide range of B2B and B2C products, which are distributed through a network of dedicated channel partners and dealers in India and abroad. These include hybrid, on-grid and off-grid solar packages ranging from 1 kW to 60 kW, which are pre-designed and used by residential and commercial customers and MSME for rooftop solar applications.

  • Vikram Solar Private Limited

  • Annual production capacity 1 gig watt
  • India’s second largest solar panel manufacturer by revenue
  • Manufacturer of Tier 1 PV modules, according to Bloomberg New Energy Finance
  • 440+MW of on-ground solar projects in India as of December 2017
  • Produces high-efficiency monocrystalline and polycrystalline PV modules

Some of Vikram’s major projects include: 160,000 ground-mounted solar panels generating 50 MW in Mandsor, Madhya Pradesh; 440,000 units of ground-mounted solar panels generating 130 MW at Bhadla, Rajasthan; Installation of a 40 MW PV solar power plant containing 194,400 units in Kachalya, Madhya Pradesh.

  • TATA Power Solar

  • India’s first solar panel manufacturer to export more than 1 GW of solar modules
  • Manufacturer of Tier 1 PV modules, according to Bloomberg New Energy Finance
  • Module manufacturing capacity expands 100% to 400MW
  • Cell manufacturing capacity expands 65% to 300MW
  • Ranked first among the leading list of solar companies in India for the third year in a row from Bridge to India

Some of their major projects include a 10MW project commissioned by Jindal Aluminum Limited; Mithapur 17 MW solar plant to power 15 million homes annually; A 3 megawatt solar farm designed to provide power to more than 2 million homes in the local community.

  • Warri Energy Co., Ltd.

  • PV module manufacturing capacity 500MW
  • More than 3000 successful solar energy projects worldwide
  • Manufactures mono and the polycrystalline PV modules ranging from the 3Wp to 400Wp for both on-grid and off-grid applications
  • Among the top 10 solar panel manufacturers in India, Waaree is the largest vertically integrated solar panel provider in the country

Some of Waaree’s major projects include the Monosteel India Ltd project with a total of 10MW; the entire Greentech India project is 5MW; Bhadrash commercial project with a total capacity of 5 megawatts.

  • EMMVEE Solar Technology

  • The PV module manufacturing capacity is 500 MW as of 2016 at its state-of-the-art plant in Bangalore, India.
  • Winner of the “2017 Consumer Choice Awards”
  • Recipient of the ‘Pioneer Solar Renewable Energy Manufacturers’ award at India Renewable Energy Awards 2016
  • In January 2018, EMMVEE commissioned a 40-megawatt plant with 132,000 polycrystalline units that will have a power generation capacity of 72 million units/a.

Some of EMMVEE’s major projects include the 2 MW EPC project for MLR Industries; 11.4 megawatts of solar PV capacity in Bronco, Germany.

  • Alpex Exports Pvt. Limited

  • The current total manufacturing capacity is 400MW
  • Owns two world-class solar panel assembly lines
  • PV modules with compact design power from 40W to 330W
  • A state-of-the-art 100,000 square feet factory located in Nalagarh employing 175 people
  • A 30,000 square feet facility located in Greater Noida, employing 130 people

Some of Alpex’s major projects include 1.5 MW solar pumps in Rajasthan, India; Mono PV modules in Frankfurt, Germany generate 1.3 MW; 1.25 megawatts of polycrystalline PV modules near Venice, Italy.

  • RenewSys India Private Limited

  • The total current production capacity of solar modules is 280 MW
  • 200,000 square feet plant with a capacity of 130 MW solar cells and 180 MW solar module
  • The Bengaluru factory manufactures 1.2GW EVA and POE laminates and also manufactures 1.8GW PV back sheet
  • Among India’s top 10 solar panel manufacturers, RenewSys is the first to launch production of 5 BB solar cells
  • Moser Bayer Solar Limited

 

  • The total current capacity is 250 MW
  • Company presence in more than 82 countries
  • 25-year warranty on solar panels
  • Transformed from an optical media company into a multi-technology organization (solar energy and home entertainment) and is the second largest optical storage media manufacturer in the world

 Some of Moser Baer’s major projects include the installation of 200 kW rooftops in New Delhi, India; Installation of a 158 kW rooftop deck in New Delhi, India; Installation of a 100 kWp ceiling at RVS College in Coimbatore, India.

  • HHV Solar Technologies Private Limited

  • The solar capacity is currently 100 MW
  • Exports to the US, UK and Australia
  • Tier 1 PV Module Manufacturer
  • Multiple configurations of the 36, 60 or 72 cells
  • Wide power range from 240W to 325W

 

Some of HHV’s major projects include the 10MW DCR project in Tamil Nadu. Rooftop project at Parliament House in New Delhi; 152 kWp network at IIT in Kanpur; 100 kW grid in Tamil Nadu.

  • XL Energy Limited

  • Delivers more than 75 megawatts of solar modules to countries around the world
  • The current production capacity of the solar module is 192 MW per year
  • The current production of crystal cells is 120 MW with plans to expand to 232 MW per year with support from Germany
  • One of India’s leading provider of solar energy solutions since 1992
  • Plans, builds, operates and owns large PV plants where all services come from a single source

Among XL Energy’s major customers are Indian Railways; Indian Defense Ministries; Isolux in Spain; LT Trade International in Italy; Mandik Company in the Czech Republic.

Solar energy has become the main resource for the expansion of renewable energy worldwide, and the situation is similar in India. It now ranks ahead of wind power, as a major contributor to India’s renewable power generation capacity. Now let’s take a look at the top solar module manufacturers in India in 2022.

Solar module manufacturers in India in 2022

  • Risen Energy

The company finished with an 11.6 percent share of the market, surpassing the domestic manufacturer Al-Warri to the top spot. The company, according to research agency Bridge to India, took the top spot for the second year in a row.

  • Waaree

Waaree, the Mumbai-based manufacturer of solar PV modules, captured a 10.6 percent market share in 2019, ranking second in the overall market after Risen Energy. However, it has beaten the likes of Vikram Solar and Adani to claim the position of the leading domestic supplier of modules in the market.

  • Znshine

Another Chinese factory, which closed the top three supplier list, is Znshine. The company captured 9.6 percent of the market, ranking third. Overall, the company’s exports to India in 2019 which fell from more than GW in 2018 to nearly 800 MW in 2019, however, have maintained a comfortable market share.

  • Vikram Solar

Fourth place on the list, losing marginally to Znshine in the top three lists of suppliers is Kolkata’s Vikram Solar. The company lost in the top three by a margin of nearly 8-10 MW, capturing a 9.5 percent market share versus Znshines’ 9.6 percent. The company received a 300MW solar project from NTPC and is expected to remain on top for 2020.

  • Adani

Adani is directly behind Vikram Solar which has captured 9.5 percent of the market share in the company. Adani is perhaps one of the largest IPPs and project developers in the country, and its indulgence in manufacturing backed by a recent win in the country’s first manufacturing-related tender (annual mandatory manufacturing capacity of 2,000 MW) may make it difficult to achieve first place very soon.

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