Indian Solar Market Update – 26.6 GW Installed in Q3 2025.

In the first nine months (09 Months) of the Calendar Year (CY) 2025, solar projects totaling 26.6 GW were added in India, an increase of 53.7% compared to 17.3 GW in 9M 2024, according to Q3 2025 India Solar Market Update Report.

India’s cumulative installed solar capacity stood at 125.5 GW as of September 2025. Large-scale solar accounted for 81.5% of capacity commissioned in 9M 2025, while rooftop solar contributed 18.5%. The compounding effect of project commissioning in Q3 2025, building on strong activity in the previous two quarters, was driven by accelerated execution ahead of the ISTS waiver deadline and the upcoming ALMM II compliance window. Together, these factors boosted commissioning activity in the first nine months of 2025.

In Q3 2025, 6.6 GW of large-scale solar capacity was commissioned. Installations dropped 32.3% quarter-over-quarter (QoQ) compared to 9.7 GW in Q2 2025. However, capacity additions rose by more than 141% YoY compared to 2.7 GW in Q3 2024.

Rajasthan, Maharashtra, and Gujarat led large-scale solar capacity additions in the quarter. Rajasthan contributed 38.2% to installations in Q3, while Maharashtra and Gujarat comprised 20.2% and 17.7% respectively, of the capacity commissioned during the quarter. The top ten states accounted for 99.3% of the large-scale solar capacity additions in Q3 2025.

As of September 2025, India’s cumulative installed solar capacity stood at 125.5 GW. Large-scale projects accounted for 85.2%, and rooftop solar accounted for 14.8% of cumulative installations. Solar PV projects accounted for 25.1% of India’s total installed power capacity and 51% of the total installed renewable energy capacity.

Rajasthan, Gujarat, and Karnataka were the top three states for total installed large-scale solar capacity. Over 29.5% of the country’s largescale solar capacity was installed in Rajasthan, 17.7% in Gujarat, and 13.1% in Karnataka. India’s large-scale solar project pipeline stood at 191.9 GW, with another 162.5 GW of projects tendered and pending auction as of September 2025.

In Q3 2025, 16.5 GW of tenders were announced, down 17.8% YoY. Tender activity rose nearly 137.6% QoQ compared to 6.9 GW. Auctions in Q3 2025 totaled 2.2 GW, down 66.8% YoY compared to 6.5 GW in Q3 2024, but up 21.4% QoQ compared to 1.8 GW in Q2 2025.

In the 09 Months of 2025, 37.5 GW of tenders were announced, a 48% decrease compared to 72 GW in 9M 2024.

Key Highlights from Q3 2025 India Solar Market Update:

• India added 6.6 GW of solar capacity in Q3 2025, down 32.3% QoQ but up 141% YoY.
• Rajasthan, Maharashtra, and Gujarat led quarterly large-scale solar capacity additions.
• Large-scale solar accounted for 81.5% of capacity commissioned in 9M 2025, while rooftop solar contributed 18.5%.
• India’s cumulative installed solar capacity stood at 125.5 GW as of September 2025.
• In Q3 2025, tender announcements rose 137.6% QoQ, but decreased 17.8% YoY.
• During the quarter, auction activity fell 66.8% YoY and was up 21.4% QoQ.

Team Maverick