Top 5 Game Changers In Solar Power Industry
With energy resources being scarcer every day, it is essential to think about something sustainable. Over the years, solar energy has emerged as a powerful energy source that is sustainable, safe, and highly efficient. India, mainly dominated by coal power, would be interesting to see some fantastic and cutting-edge solar power industries grow in the electric utility domain.
Indeed, there are a bunch of solar power producers in India that are continuously leveraging solar power to establish solar dominance. No doubt, solar energy has turned into the most efficient renewable source of energy around the globe. India is among those countries that are embracing its power.
Adding to the achievements, cumulative renewable energy of 132.15 GW capacity was installed on February 29, 2021.Top 5 Game Changers In Solar Power Industry There is more to come in the solar energy industry. The central government is speeding up the dream project of 100 GW (60 GW utility and 40 GW rooftop solar) by 2022.
Top 5 Solar Energy Producers in India
Many game-changers in India have been strengthening the solar energy industry. Here are the top 5 solar power producers that you must know about:
ACME is the pioneer in solar power production in India that has a base of 2.9 GW. For years, the company has held its position as the leader both financially and technologically. Apart from the general capabilities, ACME has also stretched to Special Purpose Vehicles and subsidiaries and has a 2.6 GW solar pipeline under construction. ACME was in the buzz recently when it turned down a 600MW solar project in 2018. Similarly, this year, the company cited the pandemic as the reason to drop another project.
ReNew is the largest wind energy company in India that has managed to grab a list. As the company installed around 2351.2 MW solar projects in the country, it comes right behind ACME. The company has an operation of 2.9 GW solar portfolio. ReNew power bagged a 400 MV tender that has a quoted tariff of ₹2.90/kWh. The tender was stated as the most significant event of 2020 for renewable energy. Power Minister RK Singh stated in a SECI event that it is a golden chapter in the renewable industry.
Adani Group with Adani Green Energy (AGE) is the third-largest solar producer in India. The company has installed and functionally operating a 2.2 GW solar project throughout the country. Other projects in the pipeline for the company include 8.42 GW, a massive number for the other producers on the list. The total 2198 MW operations are operated with Total under 50:50 joint venture. The French multinational energy conglomerate invested ₹3,707 crores. Recently the company bagged SECI tender of India’s largest solar tender.
Greenko is a Hyderabad-based solar producer that currently holds a 2175 MW solar portfolio. It is the fourth largest solar producer in India that is focused on Souther-India operations. A majority of its solar projects are situated in Karnataka and Andhra Pradesh. However, the company is gradually expanding its operations to the Western regions of the county. Greenko emerged as the winning bidder for grabbing the SECI tender of the 1.2 GW wind-solar hybrid power project. With the highest tariff rate – ₹6.12/kWh, Greenko landed a 900 MW tender.
Azure Power puts an end to the top 5 solar power producers in India. The company has an operational solar portfolio of 1808 MW divided among rooftop solar and utility-scale installations. The company was in the talks for its greenshoe option during a 2GW ISTS (Interstate Transmission) solar project along with a SECI’s tender. With the greenshoe, the company will be supplying solar power for the next 25 years at a rate of ₹2.92/kWh. The capacity of the project is 4GW, expected to roll out by 2025
The Bottom Line
Solar Power is immense renewable energy that can be used for a lifetime. It is essential to understand its worth it and mainly utilize it. That’s what the Indian government has been doing with its solar projects. The above mentioned were the top 5 solar power producers in India that have primarily contributed to its solar growth.
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