Mercom announces India’s top utility-scale solar plant developers

10 Nov 2021 CW Team

Avaada Energy, Adani Solar and Azure Power have come up as the top utility-scale solar project developers in the first half (1H) of the calendar year (CY) 2021, as per Mercom’s India Solar Market Leaderboard 1H 2021 report.

Adani Solar was the best utility-scale developer in 1H 2021 with a market share of 13%, whereas Azure Power and Avaada Energy had market shares of 8% and 9%, respectively. The top three developers estimated for 30% of the overall market share in 1H 2021.

The top ten players estimated for 67% of the overall market share in 1H 2021.

Regarding both operational and under-development project capacity, Adani led with 22% market share as of June this year. Azure Power and NTPC held market shares of 8% and 6%, respectively.

Utility-scale projects estimated for 85% of the cumulative establishments as of June 2021, which reached 43.6 GW at the end of June 2021.

As of June 2021, utility-scale solar developers had 90.3 GW of projects in operation and under development. Of these, operational projects estimated 37.5 GW, and projects under-development accounted for 52.8 GW.

In some essential procurements, Adani Green obtained a 100% share in SB Energy India from SoftBank Group (80%) and Bharti Group (20%). The transaction brought 1,400 MW of operational solar plants and 3,554 MW under development into Adani’s portfolio. The firm also took over 75 MW of running solar assets in Telangana from Sterling and Wilson.

Azure Power marketed its non-core rooftop solar portfolio (152.5 MW) to Radiance Renewables during the 1H 2021.

Adani Solar was the top utility-scale developer in 2020 as well, with a market share of 13%. Hero Future Energies and SB Energy were in the best three with 12% and 10%, respectively. The best three developers estimated for 35% of the total utility-scale solar projects established in 2020.

Solar estimates for 11.2% of the total established power capacity in India as of June 2021. Among renewables, the share of solar was 30%. Coal continued to head with a market share of approximately 52.5%.

Image Source

Also read: Mercom India reveals India’s solar market leaders in first half of FY22

Avaada Energy, Adani Solar and Azure Power have come up as the top utility-scale solar project developers in the first half (1H) of the calendar year (CY) 2021, as per Mercom’s India Solar Market Leaderboard 1H 2021 report. Adani Solar was the best utility-scale developer in 1H 2021 with a market share of 13%, whereas Azure Power and Avaada Energy had market shares of 8% and 9%, respectively. The top three developers estimated for 30% of the overall market share in 1H 2021. The top ten players estimated for 67% of the overall market share in 1H 2021. Regarding both operational and under-development project capacity, Adani led with 22% market share as of June this year. Azure Power and NTPC held market shares of 8% and 6%, respectively. Utility-scale projects estimated for 85% of the cumulative establishments as of June 2021, which reached 43.6 GW at the end of June 2021. As of June 2021, utility-scale solar developers had 90.3 GW of projects in operation and under development. Of these, operational projects estimated 37.5 GW, and projects under-development accounted for 52.8 GW. In some essential procurements, Adani Green obtained a 100% share in SB Energy India from SoftBank Group (80%) and Bharti Group (20%). The transaction brought 1,400 MW of operational solar plants and 3,554 MW under development into Adani’s portfolio. The firm also took over 75 MW of running solar assets in Telangana from Sterling and Wilson. Azure Power marketed its non-core rooftop solar portfolio (152.5 MW) to Radiance Renewables during the 1H 2021. Adani Solar was the top utility-scale developer in 2020 as well, with a market share of 13%. Hero Future Energies and SB Energy were in the best three with 12% and 10%, respectively. The best three developers estimated for 35% of the total utility-scale solar projects established in 2020. Solar estimates for 11.2% of the total established power capacity in India as of June 2021. Among renewables, the share of solar was 30%. Coal continued to head with a market share of approximately 52.5%. Image Source Also read: Mercom India reveals India’s solar market leaders in first half of FY22

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..