Solar Panel Manufacturers in India Listed Companies

India is quickly becoming a major player in the global solar energy market, thanks to strong government goals for renewable energy and a growing local manufacturing industry. The solar panel sector in India has grown a lot in recent years, with many companies now making efficient solar modules for homes, businesses, and large projects both in India and abroad. This article takes a closer look at the top solar panel manufacturers in India, their production capacities, technology innovations, and their role in supporting the country’s clean energy growth.

1. Bluebird Solar

Established: 2014
Headquarters: Greater Noida, Uttar Pradesh
Annual Manufacturing Capacity: 2.5 GW (as of October 2025)
Product Range: N-Type TOPCon bifacial, Mono PERC bifacial, and monofacial solar modules ranging from 480 Wp to 645 Wp
Certifications: ALMM, BIS, IEC

Bluebird Solar is a leading Indian solar panel manufacturer, backed by over 40 years of trust from the Bluebird Group, renowned for its stabilizer manufacturing. The company operates a state-of-the-art, fully automated manufacturing facility in Greater Noida, Uttar Pradesh. As of October 2025, Bluebird Solar has expanded its production capacity to 2.5 GW, positioning itself among the top solar module manufacturers in India.

2. Tata Power Solar Systems Ltd.

Established: 1989
Headquarters: Bengaluru, Karnataka
Annual Manufacturing Capacity: 4.3 GW (as of March 2024)
Product Range: Solar modules, rooftop systems, solar power plants

A pioneer in the Indian solar industry, Tata Power Solar has been at the forefront of solar technology. The company manufactures durable and efficient solar panels widely used in residential, commercial, and utility-scale projects. Their products are designed to perform optimally in diverse Indian climatic conditions.

3. Adani Solar

Established: 2015
Headquarters: Ahmedabad, Gujarat
Annual Manufacturing Capacity: 4 GW (as of March 2024)
Product Range: High-efficiency solar PV modules

Part of the Adani Group, Adani Solar has rapidly ascended to prominence in the solar manufacturing sector. The company offers high-efficiency solar PV modules and has been instrumental in supplying panels for utility-scale projects and rooftop installations across India. Their focus on cutting-edge technology and large-scale production has positioned them as a key player in the industry.

4. Vikram Solar

Established: 2006
Headquarters: Kolkata, West Bengal
Annual Manufacturing Capacity: 3.5 GW (as of March 2024)
Product Range: High-efficiency solar modules, rooftop systems, solar power plants

Vikram Solar is renowned for its innovative solar solutions and commitment to sustainability. The company offers a comprehensive range of products, including high-efficiency solar modules and EPC services. Their extensive product portfolio and global presence underscore their leadership in the solar manufacturing sector.

5. Waaree Energies Ltd.

Established: 1989
Headquarters: Mumbai, Maharashtra
Annual Manufacturing Capacity: 13.3 GW (as of March 2024)
Product Range: Monocrystalline and polycrystalline PV modules, solar EPC solutions

Waaree Energies stands as India's largest solar PV module manufacturer. With a manufacturing capacity of 13.3 GW, the company offers a wide array of solar products, including high-efficiency modules and comprehensive EPC services. Their products are recognized for quality and performance, making them a preferred choice for large-scale solar projects.

6. RenewSys India

Established: 2011
Headquarters: Bengaluru, Karnataka
Annual Manufacturing Capacity: 1.7 GW (as of March 2024)
Product Range: Solar modules, PV cells, EVA, back sheets, junction boxes

RenewSys India is a leading manufacturer of solar modules and components, offering a comprehensive range of products. The company is known for its high-quality modules and components, which are widely used in various solar applications. Their commitment to quality and innovation has made them a preferred choice among solar developers.

7. Goldi Solar

Established: 2011
Headquarters: Ahmedabad, Gujarat
Annual Manufacturing Capacity: 3.3 GW (as of March 2024)
Product Range: Monocrystalline and polycrystalline solar modules

Goldi Solar has established itself as a prominent player in the Indian solar manufacturing sector. The company offers a range of high-efficiency solar modules and has been actively involved in various large-scale solar projects across the country. Their commitment to quality and customer satisfaction has contributed to their rapid growth in the industry.

8. Saatvik Green Energy Pvt. Ltd.

Established: 2017
Headquarters: Gandhidham, Gujarat
Annual Manufacturing Capacity: 3.8 GW (as of March 2024)
Product Range: N-TOPCon solar modules

Saatvik Green Energy is one of India’s leading solar module manufacturers, operating a 1.5 GW/annum facility in Haryana. The company is expanding its capacity with a new Greenfield project in Gandhidham, Gujarat, aiming to add an additional 1.5 GW N-TOPCon module manufacturing capacity. Saatvik's focus on advanced technology and scalability positions it as a significant contributor to India's solar manufacturing landscape.

9. Rayzon Solar

Established: 2017
Headquarters: Ahmedabad, Gujarat
Annual Manufacturing Capacity: Not specified
Product Range: High-performance solar panels, comprehensive solar energy systems

Rayzon Solar has quickly gained recognition for its high-performance solar panels and comprehensive solar energy systems. The company is dedicated to advancing research and development to deliver cutting-edge photovoltaic technology that meets the growing demand for renewable energy in India.

10. INA Solar

Established: Not specified
Headquarters: Jaipur, Rajasthan
Annual Manufacturing Capacity: 8 GW (projected by FY 2025-27)
Product Range: TOPCon, Monofacial, and Bifacial solar modules

INA Solar, based in Jaipur, reported a remarkable financial performance for the fiscal year 2024-25, achieving a consolidated revenue of Rs 1,333.76 crore. The company specializes in advanced solar modules produced using AI and robotics for superior precision and productivity. INA Solar's ambitious expansion plans include increasing module capacity to 8 GW, solar cell manufacturing to 3 GW, and aluminum frame production to 54,000 tonnes by FY 2025-27.

Government Initiatives and Future Outlook

The Indian government has mandated the use of locally-made solar cells in clean energy projects from June 2026, aiming to reduce reliance on imports and bolster domestic manufacturing capabilities. This policy shift is expected to accelerate investments in solar cell production and further enhance the competitiveness of Indian manufacturers.

Additionally, the government has proposed implementing an Approved List of Models and Manufacturers (ALMM) specifically for wafers used in the production of solar modules, set to take effect in June 2028. This initiative aims to support the creation of a self-reliant domestic supply chain for solar equipment in India.

Conclusion

India's solar panel manufacturing sector is characterized by rapid growth, technological advancements, and a strong commitment to sustainability. Companies like Waaree Energies, Tata Power Solar, Adani Solar, and others are at the forefront of this transformation, contributing significantly to the country's renewable energy goals. As the industry continues to evolve, these manufacturers are poised to play a pivotal role in shaping the future of solar energy in India and beyond.