The Top 10 Solar Panel Manufacturers in India (2018)

Solar energy in India is booming and local solar panel manufacturers in India are benefiting greatly. Over the last few years, the solar generation capacity around the country has increased. India’s capacity in 2011 sat at 461 MW, but as of September 2017, it’s currently at 14.7 GW. To put that into perspective, 1 GW = 1,000 MW. As of 2018, India has been booming in solar energy production as well, ranking 7th among the top 10 solar energy producing countries in the world. Out of the many Indian solar panel companies to choose from, this is our list of the top 10 solar panel manufacturers in India that greatly contributes to an industry that is expecting to grow at a CAGR of more than 35% by 2022.


Top 10 Solar Panel Manufacturers in India List for 2018


1. Vikram Solar Private Limited


  • 1 GW annual production capacity
  • Second largest of the top 10 solar panel manufacturers in India according to revenue
  • Tier 1 PV module manufacturer, according to Bloomberg New Energy Finance
  • 440+ MW of ground-mounted solar projects in India as of December 2017
  • Produces high-efficiency mono and polycrystalline PV modules


Some of Vikram’s major projects include: 160,000 ground mounted solar panel modules generating 50 MW in Mandsaur, Madhya Pradesh; 440,000 ground mounted solar panel modules generating 130MW in Bhadla, Rajasthan; Installation of 40 MW capacity solar PV power plant containing 194,400 modules in Kachaliya, Madhya Pradesh.



2. Tata Power Solar


  • First solar panel manufacturer in India to export over 1 GW of solar modules
  • Tier 1 PV module manufacturer, according to Bloomberg New Energy Finance
  • Module manufacturing capacity expands by 100% to 400 MW
  • Cell manufacturing capacity expands by 65% to 300 MW
  • Ranked #1 among the leading list of solar companies in India for the 3rd consecutive year by Bridge to India


Some of their major projects include 10 MW project commissioned by Jindal Aluminum Limited; 17 MW Mithapur solar power plant to power 15 million homes per year; 3 MW solar farm designed to provide energy for over 2 million homes in the local community.



3. Waaree Energies Limited


  • PV Module manufacturing capacity of 500 MW
  • Over 3,000 successful solar projects globally
  • Manufactures mono and polycrystalline PV modules ranging from 3Wp to 400Wp for both on-grid and off-grid applications
  • Of the top 10 solar panel manufacturers in India, Waaree is the country’s largest vertically integrated solar panel provider


Some of Waaree’s major projects include Monosteel India Ltd project totally 10 MW; Greentech India project totally 5 MW; Bhadresh Trading project totaling 5 MW.



4. EMMVEE Solar Technology


  • PV module manufacturing capacity of 500 MW as of 2016 at their state-of-the-art plant in Bangalore, India
  • Winner of “Consumer Choice Awards 2017”
  • Awarded “Leading RE Manufacturers-Solar” during Renewable Energy India Awards 2016
  • In January 2018, EMMVEE commissioned a 40 MW plant with 132,000 polycrystalline modules that will have a power generation capacity of 72 million U/a


Some of EMMVEE’s major projects include 2 MW EPC project for MLR Industries; 11.4 MW Solar PV power park in Bronkow, Germany.



5. Alpex Exports Pvt. Limited


  • Current total manufacturing capacity is 400 MW
  • Owns two world-class solar panel assembly lines
  • PV modules with a compact design power that ranges from 40 W to 330 W
  • 100,000 sq ft state-of-the-art plant located in Nalagarh that employs 175 people
  • 30,000 sq ft facility located in Greater Noida, employing 130 people


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


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6. RenewSys India Private Limited


  • Total current solar module production capacity is 280 MW
  • 200,000 sq. ft. manufacturing plant with a solar cell capacity of 130 MW and solar module capacity of 180 MW
  • Bengaluru plant manufactures EVA & POE encapsulants with a 1.2 GW capacity and manufactures PV backsheet film with a 1.8 GW capacity 
  • Of the top 10 solar panel manufacturers in India, RenewSys is the first to launch production of 5 BB solar cells



7. Moser Baer Solar Limited


  • Total current capacity is 250 MW
  • Company presence in over 82 countries
  • 25-year solar panel warranty
  • Transformed from an optical media company into a multi-technology organization (solar energy & home entertainment) and is the world’s second largest optical storage media manufacturer


Some of Moser Baer’s major projects include 200 kWp rooftop installation in New Delhi, India; 158 kWp rooftop installation in New Delhi, India; 100 kWp rooftop installation at RVS College in Coimbatore, India.



8. HHV Solar Technologies Private Limited


  • Solar capacity currently sits at 100 MW
  • Exports to the U.S, the UK and Australia
  • Tier-1 PV module manufacturer
  • Multiple configurations  of 36, 60 or 72 cells
  • Wide power range of 240 W to 325 W


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



9. XL Energy Limited


  • Delivers over 75 MW of solar modules to countries all over the world
  • Current solar module production capacity is 192 MW per year
  • Current crystalline cell production is 120 MW with plans to expand to 232 MW per year with Germany’s support
  • One of India’s leading end to end solar power solution provider since 1992
  • Plans, builds, operates and owns large photovoltaic plants where all services come from a single source


Some of XL Energy’s major clients include Indian Railways; India’s Departments of Defence; Isolux in Spain; LT Trade International in Italy; Mandik Corporation in the Czech Republic.



10. Lanco Solar Private Limited


  • Current revenue of $1.6 billion
  • Current capability is 75 MW
  • One-stop solution for development and construction of on-grid and off-grid solar PV installations
  • Has plants located all over the world including in France, Germany, Italy, Spain, the US and the UK


Some of Lanco’s major projects include 1 MW solar PV plant in a village in Bhatinda, Punjab; 100 KW rooftop solar PV plant at Pushpa Gujaral Science City; 35 MW PV solar farm in Gujarat; 5 MW solar PV in Rajasthan.



A Bright Future For Top 10 Solar Panel Manufacturers in India


The top 10 solar panel manufacturers in India will help to transform India’s solar industry, especially over the next 4-5 years. The country’s power sector is looking to invest about $225 billion by the end of 2022. Boundless opportunities surrounding power generation, distribution, transmission and manufacturing of solar equipment are held by these top 10 solar panel manufacturing companies in India. The government of India is also helping the cause by lowering solar power tariffs, from INR 15 /Kwh in 2009 to INR 2.44/ Kwh in 2017. This comes from the decline in solar panel manufacturing costs and improvements to capacity utilization rates.



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