This report provides an update on key trends and developments in the corporate renewable market including capacity addition, key players, policy & regulatory issuance, financing, PPA tariffs and other market trends.
Figure: Total corporate renewable capacity by September 2023, MW

Source: BRIDGE TO INDIA research
India added 922 MW corporate renewable capacity in Q3 2023, down 58% QOQ, accounting for 51% of total renewable capacity addition in the quarter. Total corporate renewable capacity is estimated to have reached 33,225 MW. The subdued capacity addition was mainly a result of the project developers delaying execution to take advantage of falling module prices.
Other key trends from the quarter:
- Price declines to record lows across the solar value chain
- Marginal reduction in PPA tariffs across OA and rooftop solar segments
- Notification of ISTS charge waiver by CERC and adoption of Green Open Access Rules by Maharashtra, Odisha, Chhattisgarh, Telangana and Uttarakhand
- Huge increase in REC and I-REC issuance and redemption volumes