Renewable energy project developments in India

The Indian renewable energy sector has seen significant contract activity involving large-scale wind, solar, and storage projects.

In early August, Evren, a renewable energy platform backed by Brookfield, entered into a 750 MW power purchase agreement with the state-owned utility NTPC. This agreement covers solar, wind, and battery storage projects located in the states of Andhra Pradesh and Rajasthan, with the goal of generating approximately 2.5 billion units of clean electricity annually.

By late August, further developments were reported as CleanMax Enviro Energy Solutions Limited signed a term sheet with Envision Energy India Limited to procure 1,550 MW of wind turbine generators. Additionally, GK Energy Limited secured an empanelment worth approximately ₹454.50 crore to implement 100 MW of grid-connected rooftop solar projects across 100,000 households.

In late August, new policy and infrastructure developments emerged. The government in Delhi approved an amended Solar Energy Policy to provide rooftop solar systems of up to 3 kW at zero upfront cost for eligible households, aiming to add 500 MW of capacity by March 2027. Concurrently, Uttar Pradesh began issuing tenders for 2.5 MW of hybrid rooftop solar systems with battery storage for government buildings.

On the manufacturing front, Waaree Transpower is investing approximately ₹1.92 billion to establish a 500 MVA, 400 kV transformer manufacturing facility, slated for operation by April 2027. Waaree Energies is also expanding its international presence, investing $37 million to increase its module plant capacity in Arizona from 1 GW to 1.6 GW.